November 15, 2021

Suddenly Litecoin (LTC) Recorded a Jump of Over 50%. Why is that?

 As long as the news of the development of Litecoin (LTC) has been sinking, this asset has shown positive movement since last week.

Litecoin posted a price increase of more than 50%, before crossing the $ 290 level on November 10 from a daily low of $ 196.9, before falling back to $ 243.9 on November 12

There are two factors that can be observed closely:

Based on the movement of the majority of cryptocurrencies, the market is currently in a price surge phase.

Total investments increased in the 48 hours for the recorded date of November 7-8 indicating a higher than usual capital inflow rate.

Maybe it was due to FOMO following the announcement of AMC Entertainment listing LTC as a payment medium.

Speaking of Litecoin, this asset is not seen as a superior asset to be invested. For the record, its growth rate has only increased 1.5 million since last year.

However, on November 8, the number increased to 3 million, bringing the total number of wallet addresses that have LTC to 7 million.

Not only that, on the same day the number of Litecoin transactions also increased from the October average record.

At the time of writing, the LTC price is back flat with a current trading value of $ 275.21, up 7% in 24 hours.

The asset needs over 33% to return to an all -time high (ATH), $ 412.96 recorded on May 10th.