Can Litecoin (LTC) Reach $100: Key Indicators to Watch.
Litecoin price has increased significantly over the past month
The number of active addresses and transaction volume remain unchanged
Whales continue to actively accumulate LTC in anticipation of a rally
Litecoin daily trading volume exceeds $1 billion
Daily trading volume is a key indicator for gauging investor interest and market liquidity. Between February 20 and March 5, Litecoin trading volume soared 232.48%, from $391 million to $1.3 billion.
The main question is whether this rise will be a harbinger of sustained growth or a temporary blip before a correction.
The number of transactions remains stable
The 7-day average number of Litecoin transactions is 225,700 per day. Interestingly, after peaking at 956,000 on January 22 and 353,240 on January 25, the figure has not exceeded 300,000 - even despite the recent rise to $94.
In June 2023, we saw a similar picture. Then the price of LTC soared by 41.56% in 2 weeks, and the number of transactions remained stable. After this, the asset rate fell by 41.82%.
Последние два всплеска числа активных и новых адресов, взаимодействующих с Litecoin, привели к падению цены 2 и 22 января. После этого оба показателя оставались стабильными. Сейчас количество новых и активных адресов составляет около 200 000 и 400 000 в день соответственно.
Сможет ли Litecoin (LTC) достичь $100: ключевые показатели, за которыми стоит следить.
Litecoin price has increased significantly over the past month
The number of active addresses and transaction volume remain unchanged
Whales continue to actively accumulate LTC in anticipation of a rally
Litecoin daily trading volume exceeds $1 billion
Daily trading volume is a key indicator for gauging investor interest and market liquidity. Between February 20 and March 5, Litecoin trading volume soared 232.48%, from $391 million to $1.3 billion.
The main question is whether this rise will be a harbinger of sustained growth or a temporary blip before a correction.
The number of transactions remains stable
The 7-day average number of Litecoin transactions is 225,700 per day. Interestingly, after peaking at 956,000 on January 22 and 353,240 on January 25, the figure has not exceeded 300,000 - even despite the recent rise to $94.
In June 2023, we saw a similar picture. Then the price of LTC soared by 41.56% in 2 weeks, and the number of transactions remained stable. After this, the asset rate fell by 41.82%.
The last two spikes in the number of active and new addresses interacting with Litecoin caused the price to drop on January 2nd and January 22nd. After this, both indicators remained stable. Currently, the number of new and active addresses is about 200,000 and 400,000 per day, respectively.
Historically, this indicator has a strong correlation with the LTC price. The recent divergence indicates that the rise was more related to the rise of the overall crypto market than fundamentals.
Whales continue to accumulate LTC
Over the past 30 days, the number of addresses with a balance of $1 to $10 million in LTC has increased by 15% - from 364 to 419 wallets. The number of Litecoin holders worth more than $10 million, meanwhile, increased by 15% - from 94 to 107
Хотя количество транзакций и адресов остается стабильным, киты накапливают все больше монет. Это говорит о том, что эти искушенные инвесторы положительно оценивают потенциал актива.
Litecoin price forecast: when to expect $100
LTC price is still 79% below its all-time high, which could indicate high upside potential in the coming weeks. An increase in the number of whales accumulating the token is also considered a bullish signal.
However, metrics such as the number of transactions and the number of addresses have remained stable over the past 10 days. This could mean Litecoin's recent rise is due to an overall trend rather than investors betting on its fundamentals, and could hint at a correction to come.
