<

Litecoin (LTC) started year on bullish note and is trading at $74.25 with 7.05% growth

Litecoin (LTC), currently at $74.25 after posting a 7.05% gain over the last 24 hours, indicates that the cryptocurrency is off to a very optimistic start in 2023. As retail holders decide to start the year positively, Litecoin is reducing the losses accumulated over the last week.

litecoin-ltc-started-year-on-bullish-note-and-is-trading-at-74-25-with-7-05-growth

LTC/USD 4-hour chart | Source: TradingView

Litecoin (LTC) on Rise as It Sets for Bullish 2023

According to the on-chain statistics for Litecoin, the rapid accumulation over the previous 24 hours is driving the currency’s growth. Retail traders are uniformly pushing for this continued accumulation, as evidenced by the trading volume, which increased by 16.29% to $458.3 million.

The objective for Litecoin is to finish the year better than it did the previous one, which was marked by a painful crypto winter. LTC finished the year with a loss of 50.9%, and 2022 is remembered as the year that saw the failure of numerous notable cryptocurrency companies, including Celsius Network, Three Arrows Capital (3AC), and FTX Derivatives Exchange.

Litecoin outperformed most of the coins in the top 10 by market capitalization, as assessed by CoinMarketCap, even though this may be considered poor performance. Expectations for LTC are high, given its outstanding start, and more than 800,000 traders have added it to their watch lists to keep tabs on how it performs over the rest of the year.

The goal of Litecoin in this regard has continued to encourage huge expansion. It was created to function as a distinct payment token. There are now many more options for users to spend their coins, in addition to PayPal, including MoneyGram, NOWPayments, and BitPay.

Despite the criticism directed at its owners, Litecoin’s ability to surpass its main rival Bitcoin (BTC), in terms of usage diversification across the board, gives it relevance.

Read more:

Join us on Telegram

Follow us on Twitter

Follow us on Facebook

You might also like

LATEST NEWS

LASTEST NEWS