Litecoin

Record $584M Litecoin futures open interest signals institutional inflow
Litecoin

Record $584M Litecoin futures open interest signals institutional inflow

Litecoin (LTC) might be 60% below its December 2017 all-time high at $420, but that hasn't stopped its futures contracts open interest from reaching a record $584 million. This makes LTC the seventh-largest cryptocurrency by market capitalization and it ranks third in derivatives, behind Bitcoin (BTC) and Ether (ETH).Litecoin futures aggregate open interest. Source: Bybt.comAs shown above, LTC futures aggregate open interest increased by 285% over the past three months. One should keep in mind that such an event is not necessarily positive since futures contracts require both a buyer (long) and a seller (short). Nevertheless, this increasing interest allows even more substantial players to participate. Another interesting development is the recent Chicago Mercantile Exchange (CME) Ether fu...
Four cryptocurrency block reward halvings to look out for in 2021
Litecoin

Four cryptocurrency block reward halvings to look out for in 2021

Block reward halvings cut the rate at which new coins are generated on a given blockchain by 50%. Such events, known jokingly as “halvenings,” have long been anticipated by cryptocurrency traders as catalysts for pushing up the price of their cryptocurrency holdings. Past attempts to predict when Bitcoin’s (BTC) price would increase in relation to halvings have proved inconsistent at best. However, few would be willing to quickly discount the mechanisms described in the law of supply and demand. All things being equal, as the number of coins available on the market decreases, the demand for those coins — and thus, the price of each — increases.With that in mind, here are four cryptocurrency projects that are due to undergo block reward halvings in the coming year, when their issuance rate ...
Litecoin briefly flips XRP as 4th largest crypto amid Ripple–SEC spat
Litecoin

Litecoin briefly flips XRP as 4th largest crypto amid Ripple–SEC spat

Litecoin (LTC) and XRP briefly traded places in market capitalization rankings over the weekend, highlighting the impact of the recent lawsuit against Ripple filed by the United States Securities and Exchange Commission.The so-called “flippening” happened early Sunday when Litecoin’s market cap hit $9.95 billion following a more than 12% surge in price. XRP, meanwhile, had declined in excess of 25% over a 24-hour trading period. LITECOIN JUST FLIPPED XRP pic.twitter.com/yjBq15JtpV— HODLGeorge (@BitfuryGeorge) January 3, 2021At press time, XRP was back in the fourth position with a market cap of $10.5 billion. Litecoin, meanwhile, was worth just over $9.9 billion. In the last seven days, Litecoin’s price has gained roughly 14% while XRP has tumbled nearly 20%. Litecoin’s price has more...
2021 price outlook: BTC, ETH, XRP, LTC, BCH, LINK, ADA, BNB, DOT, XLM
Bitcoin, Litecoin

2021 price outlook: BTC, ETH, XRP, LTC, BCH, LINK, ADA, BNB, DOT, XLM

The year 2020 was a forgettable one for many reasons including lockdowns and economic restrictions. The shutdowns resulted in the worst economic crisis seen in decades. At the same time, most governments and central banks have responded with unprecedented fiscal stimulus and monetary expansion measures to revive their economies.Therefore, institutional investors who are wary of potential inflation — and possibly even hyperinflation — as a result, are scrambling to hedge their portfolios with assets that can protect them from gradual currency depreciation. Until now, gold was considered the best store of wealth, and it has not disappointed investors as it is up about 24% year-to-date.BTC vs. Gold vs. S&P500 2020 performance. Source: EcoinometricsHowever, this year has seen an influx of ...
Litecoin, Dogecoin and large-cap altcoins rally as Bitcoin price hits $23.8K
Litecoin

Litecoin, Dogecoin and large-cap altcoins rally as Bitcoin price hits $23.8K

Litecoin (LTC) and Dogecoin (DOGE) are rallying strongly as Bitcoin (BTC) fights to stay above $23,800. Many analysts say the surge in large-cap altcoins is directly connected to Bitcoin's price action and historical data shows the two tend to move in tandem when BTC goes through bull and bear cycles. As altcoins begin to show signs of newfound momentum, traders are becoming even more confident in the strength of BTC’s trend.Throughout December, altcoins stagnated against Bitcoin, particularly as BTC struggled to break out of the $18,000 to $19,400 range but this was in an environment plagued by low volume.At the time, the cryptocurrency market’s volume was on the decline as Bitcoin continuously rejected a $19,400. As such, most of the volume went towards BTC and the altcoin market wa...
Price analysis 11/25: BTC, ETH, XRP, BCH, LINK, LTC, ADA, DOT, BNB, XLM
Litecoin

Price analysis 11/25: BTC, ETH, XRP, BCH, LINK, LTC, ADA, DOT, BNB, XLM

The crypto market has been in a strong bull run over the past few days, and that has pushed Bitcoin (BTC) to its second-best day ever. Almost every trader now seems to be fixated on the magical figure of $20,000 per BTC.After such a sharp up-move, some traders are calling for a top, while others are projecting lofty targets for the future.Cryptocurrency market daily performance. Source: Coin360CNBC Fast Money host Brian Kelly, for example, believes that the recent volitile moves in altcoins, overpriced Bitcoin address growth, and rising funding rates pointing to the arrival of retail traders may be a warning sign of a short to medium-term top.On the other end of the spectrum are analysts such as Off the Chain Capital chief investment officer Brian Estes who believes that Bitcoin ...
Ether hits $500 for the first time since June 2018, outperforming Bitcoin YTD
Litecoin

Ether hits $500 for the first time since June 2018, outperforming Bitcoin YTD

Ether (ETH) returned to $500 for the first time in more than two years on Nov. 20 as altcoins slowly staged a comeback from poor performance.Cryptocurrency market overview from Coin360.comEther price sees $500 after more than two yearsData from Cointelegraph Markets, Coin360 and TradingView showed ETH/USD briefly hitting the psychologically significant barrier in Friday trading before a rejection halted progress.Despite being capped at roughly 6% daily gains at press time, Ether’s achievement delighted traders, who noted that overall in 2020, the largest altcoin has outperformed even Bitcoin (BTC).Year-to-date returns stand at 284% for Ether and 155% for Bitcoin. Versus the pit of its price lows in mid March, just after the coronavirus-induced cross-asset crash, Bitcoin was still the stron...
The Bitcoin price has only been higher than now for 12 days in its history
Bitcoin, Litecoin

The Bitcoin price has only been higher than now for 12 days in its history

The Bitcoin (BTC) price, which is currently sitting at $16,320, has only been at this level or higher for 12 days in the coin’s entire 4,332-day history, representing just 0.28% of the cryptocurrency’s life.Crypto analytics platform Messari published data stating that the closing price had exceeded $16,320 only on 12 other days, 10 of which occurred from Dec. 7 to 20 in 2017, with the highest close occurring on Dec. 16 at $19,378. Any investor who bought at the all-time high of $20,089 would still be down 18.35%. In contrast, investors who bought at this cycle’s low of $3,126 on Dec. 15, 2018, would be up 424%.Of the other top 10 coins, only Chainlink (LINK) comes remotely close to Bitcoin, with the coin sitting above the current price of $12.70 for 2.7% of its life.By contrast, the majori...
Bitcoin Cash hits record lows vs. Bitcoin days before hard fork
Litecoin

Bitcoin Cash hits record lows vs. Bitcoin days before hard fork

Altcoin traders continue to feel the pain as Bitcoin (BTC) gains, while Bitcoin Cash (BCH) hits new all-time lows. Data from Cointelegraph Markets and other sources show that as of Nov. 10, BCH is worth less in BTC terms than ever before.Bitcoin Cash plunges to new BTC lowsAt press time, BCH/BTC traded at 0.017 BTC, comfortably beating its previous record low of 0.0245 BTC seen in December 2018.The hard fork of Bitcoin has seen little attention this year, as investors focused on Bitcoin and then the decentralized finance phenomenon. The announcement of another hard fork of the Bitcoin Cash network, set for Nov. 15, has done little to buoy the coin’s prospects, data shows. BCH/BTC historical weekly chart. Source: TradingViewIn USD terms, Bitcoin Cash has spent the past three months flu...