Who would have thought crypto investors would finally see the potential of Litecoin (LTC)?
Based on graph observations, Grayscale Litecoin Trust (LTCN) recorded an increase of 32.39% today after a month of horizontal movement.
There are two main factors to this increase:
Car racer Landon Cassil became the first individual to be paid in the crypto Litecoin (LTC) in a race in Darlington yesterday local time.
Litecoin to XFINITY !! Today @Landoncassill will earn his pay in $ LTC at the 'Sport Clips Haircuts VFW Help A Hero 200' at #Darlington Raceway !! LIVE on NBCSN 3:30 pm EST Sept 4th NASCAR #PaywithLitecoin #Litecoin10 #Litecoin #LitecoinFAM pic.twitter.com/Sx2XZgWZE5
- Litecoin (@litecoin) September 4, 2021
The LTC jump of 34.72% to the $ 200 level caused interest among retail and institutional investors to increase sharply.
At the same time, the mentioned factors are also strongly supported by low volatility (uncertainty) of around 58%, protecting these assets from sudden price fluctuations.
LTC/BTC also showed a high correlation of 0.97, maintaining a strong asset value.
It turns out that Litecoin’s performance is far from what 76% of panelists expected last August. In their opinion, Litecoin will fail and it is unlikely it will continue to disappear due to its disappearing relevance.
At the time of writing, Litecoin posted a trading value of $ 226.4, up nearly 6% in 24 hours. The asset however saw a decline of more than 45% from the all -time high (ATH) recorded on May 10, $ 412.96.
