• Latest
  • Trending
  • All
Litecoin [LTC] shows signs of recovery, can this be the reason

Litecoin [LTC] shows signs of recovery, can this be the reason

March 15, 2023
Phoenix Group Acquires $380 Million Worth of Green Mining Equipment from WhatsMiner

Phoenix Group Acquires $380 Million Worth of Green Mining Equipment from WhatsMiner

December 8, 2023
This Solana-Based Meme Coin Reached All-Time Highs Again, Even As Shiba Inu, Dogecoin Slip

This Solana-Based Meme Coin Reached All-Time Highs Again, Even As Shiba Inu, Dogecoin Slip

December 8, 2023
eth2 quick update no. 22

eth2 quick update no. 5

December 8, 2023
Litecoin Whales Maintain Positions Amidst Declining Small Wallet Activity In The Last 10 Days

Litecoin Whales Maintain Positions Amidst Declining Small Wallet Activity In The Last 10 Days

December 8, 2023
Cathie Wood’s Ark Invest Trims Bitcoin Exposure, Sells $2.9M Worth Of GBTC Shares Amid Crypto Market Volatility

Cathie Wood’s Ark Invest Trims Bitcoin Exposure, Sells $2.9M Worth Of GBTC Shares Amid Crypto Market Volatility

December 8, 2023
Solana-Based DeFi Project Jito (JTO) To Kick Off Airdrop As Coinbase Announces Support for the Token

Solana-Based DeFi Project Jito (JTO) To Kick Off Airdrop As Coinbase Announces Support for the Token

December 8, 2023
Surge in Price amid Subdued Interest

Surge in Price amid Subdued Interest

December 8, 2023
Versatus Labs Raises $2.3M to Bring World’s First Stateless Rollup

Versatus Labs Raises $2.3M to Bring World’s First Stateless Rollup

December 8, 2023
Redwater and Lavrium Announce Strategic Partnership for Bitcoin Mining Optimization

Stronghold Announces November 2023 Bitcoin Mining Update -December 07, 2023 at 04:16 pm EST

December 7, 2023
Dogecoin Forecasted to Hit $1: Here’s When

Dogecoin Forecasted to Hit $1: Here’s When

December 7, 2023
Ethereum Whale With Over $60 Million In Unrealized Profits Moves Coins To Exchange

Ethereum Whale With Over $60 Million In Unrealized Profits Moves Coins To Exchange

December 7, 2023
Dolphin and Shark Wallets Now Hold Over 18M LTC as Litecoin Halving Nears

Litecoin (LTC) Record Shocking Wallet Exodus, A Twist May Lie Ahead

December 7, 2023
Friday, December 8, 2023
DLT EMPIRE
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Altcoin
  • Crypto Mining
  • Dogecoin
  • Litecoin
  • Market
No Result
View All Result
DLT EMPIRE
No Result
View All Result
Home Litecoin

Litecoin [LTC] shows signs of recovery, can this be the reason

by Cuevas Antonio
March 15, 2023
in Litecoin
0
Litecoin [LTC] shows signs of recovery, can this be the reason
491
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter


  • LTC’s difficulty and hashrate increased, suggesting an increased number of miners.
  • TVL went up while on-chain performance looked bullish.

On 13 March, the Litecoin Foundation revealed that Litecoin’s [LTC] mining difficulty had reached a new all-time high. As its difficulty increased, Coinwarz’s chart pointed out that the network’s hashrate also registered an uptick over the last week. 

Litecoin mining difficulty is touching a new high!🚀
Difficulty is a variable measure of how difficult it is to find a hash below a given target. An important metric for mining & how the truly decentralized #Litecoin network controls new coin issuance. $LTC pic.twitter.com/n4e6rIodjj

— Litecoin Foundation ⚡️ (@LTCFoundation) March 13, 2023


Read Litecoin’s [LTC] Price Prediction 2023-24


The surge in hashrate indicated an influx of new miners on the network. A possible reason for the new influx could be LTC’s recent price action, which favored the bulls. As per CoinMarketCap, LTC’s price increased by 4.46% in the last 24 hours, and at the time of writing, it was trading at $80.00 with a market capitalization of 5.7 billion.  

NFTs are luring more miners 

Apart from LTC’s rising value, another reason for the increasing hashrate could be the newly supported Litecoin Ordinals. Ordinals were initially launched on Bitcoin’s [BTC] blockchain. However, Litecoin started supporting these NFTs during the concluding weeks of February. Since its launch, Ordinals have come a long way, crossing the 200,000 milestone last week. 

⚡ 200,000+ Litecoin Ordinals ⚡

— Litecoin Foundation ⚡️ (@LTCFoundation) March 8, 2023

Network value on the rise?

LTC’s network value witnessed a steep decline over the last week as its Total Value Locked (TVL) went down. However, in a spot of good news, according to DeFiLlama, LTC’s TVL was showing signs of recovery.

As per the chart below LTC’s TVL increased by more than 2% in the last 24 hours, which was optimistic. However, it was surprising to see that despite growth in multiple areas, the number of daily active users declined slightly over the last two days. 

Source: DeFiLlama

Will LTC sustain the price pump?

LTC’s growth in TVL can only continue if its price continues to be under the bulls’ influence. Therefore, a look at the blockchain’s metrics gave a better understanding of the possibility of LTC sustaining its recent price surge.


Is your portfolio green? Check the Litecoin Profit Calculator


Santiment’s data revealed that the price uptrend was accompanied by an increase in volume, which acted as a support for the hike. LTC’s MVRV Ratio also increased considerably over the last few days. More LTC was transferred to wallets lately, which was evident from its rising velocity.

In addition to that, after a sharp decline, LTC’s Binance funding rate also went up, suggesting high demand from the futures market.

Source: Santiment





Source link

Tags: LitecoinLTCreasonrecoveryshowssigns
Share196Tweet123Share49
Cuevas Antonio

Cuevas Antonio

  • Trending
  • Comments
  • Latest
ChatGPT is Being Used to Make ‘Quality Scams’

ChatGPT is Being Used to Make ‘Quality Scams’

March 20, 2023
Rise of AI-Powered Cheating: Challenges and Solutions for Educators

Rise of AI-Powered Cheating: Challenges and Solutions for Educators

March 20, 2023
Former FTX US President Reportedly Quit After ‘Protracted Disagreement’ With Bankman-Fried

Former FTX US President Reportedly Quit After ‘Protracted Disagreement’ With Bankman-Fried

April 10, 2023
Silicon Valley Bank: Bitcoin investors in panic as market goes sideways

Silicon Valley Bank: Bitcoin investors in panic as market goes sideways

0
24 Crypto Terms You Should Know

24 Crypto Terms You Should Know

0
Bitcoin, Ethereum, Dogecoin Rally As Team Biden Cushions SVB Blow

Bitcoin, Ethereum, Dogecoin Rally As Team Biden Cushions SVB Blow

0
Phoenix Group Acquires $380 Million Worth of Green Mining Equipment from WhatsMiner

Phoenix Group Acquires $380 Million Worth of Green Mining Equipment from WhatsMiner

December 8, 2023
This Solana-Based Meme Coin Reached All-Time Highs Again, Even As Shiba Inu, Dogecoin Slip

This Solana-Based Meme Coin Reached All-Time Highs Again, Even As Shiba Inu, Dogecoin Slip

December 8, 2023
eth2 quick update no. 22

eth2 quick update no. 5

December 8, 2023

Recent News

Phoenix Group Acquires $380 Million Worth of Green Mining Equipment from WhatsMiner

Phoenix Group Acquires $380 Million Worth of Green Mining Equipment from WhatsMiner

December 8, 2023
This Solana-Based Meme Coin Reached All-Time Highs Again, Even As Shiba Inu, Dogecoin Slip

This Solana-Based Meme Coin Reached All-Time Highs Again, Even As Shiba Inu, Dogecoin Slip

December 8, 2023
eth2 quick update no. 22

eth2 quick update no. 5

December 8, 2023

Categories

  • Altcoin
  • Altcoin News
  • Altcoins
  • Artificial Intelligence
  • Bitcoin
  • Blockchain
  • Blockchain Games
  • Business
  • Crypto
  • Crypto Mining
  • Cryptocurrencies
  • Cryptocurrency
  • Culture
  • Defi
  • Dogecoin
  • Economy
  • Education
  • Entertainment
  • Ethereum
  • Featured
  • Gambling
  • Governance
  • Health
  • Lifestyle
  • Litecoin
  • Market
  • News
  • Sports
  • Uncategorized
  • Web 3.0
  • World

Converter

Cryptocurrency Prices by Coinlib

© 2023 Dlt Empire | All Rights Reserved

No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Altcoin
  • Crypto Mining
  • Dogecoin
  • Litecoin
  • Market

© 2023 Dlt Empire | All Rights Reserved