Menu
Home
Advertise
Forums
Search forums
What's new
Unread posts
Latest activity
Earn Money
Review Website/Apps
Passive Income
Money apps
Paid Survey
Stock
Forex
Real estate
Paid to write
Social Media Monetization
Crytocurrency
Bitcoin (BTC)
Ethereum (ETH)
Crypto Exchange
Mining
Crypto Faucet / Airdrops
Binance
Business
Business strategy
Funding a business
Marketing
Digital Marketing
Social media marketing
Email marketing
Brand management
Personal Finance
Money Saving
Personal loan
Retirement
Debt help
Savings for Students
Tax relief
Insurance
Car Insurance
Life Insurance
Liability Insurance
Home Insurance
Health Insurance
Disability Insurance
FAQ
Log in
Register
What's new
Search
Search
Search titles only
By:
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Money Making Forums
Cryptocurrency Forums
Cryptocurrency News by Tradecoind2
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
[QUOTE="tradecoind2, post: 327801, member: 103239"] [HEADING=2]Evaluate the likelihood of LTC price reclaiming $100[/HEADING] LTC price has struggled to find steady demand in the current crypto market landscape. However, some on-chain data trends suggest that may soon change as 2024 draws closer. [HEADING=1][B]LTC funded addresses grow rapidly in the second half of 2023[/B][/HEADING] Large-cap coins like Bitcoin and SOL delivered annual gains of over 100%. Meanwhile, LTC price has only recently erased its losses and regained $70. On-chain data shows that Litecoin’s recent price recovery is largely driven by steady growth in network demand. First, blockchain data analytics platform IntoTheBlock reports the number of funded LTC wallets has increased by 44,000 since the beginning of the second half of 2023. The chart below illustrates that LTC now has 9.21 million non-zero addresses, up from 8.77 million on June 30. The Funded Addresses metric is also sometimes referred to as addresses with a non-zero balance. When it increases as above, it shows increasing adoption and expansion of the blockchain network. If the number of funded addresses continues to grow, increasing demand could push LTC prices towards the $100 mark as 2024 approaches. [HEADING=1][B]The network is attracting a high number of transactions from new users[/B][/HEADING] In further confirmation of the increased network demand, the number of LTC transactions by new users increased significantly this month. According to IntoTheBlock, the new adoption rate on the Litecoin network reached a 1-month high of 49.44% on November 4. Accordingly, this rate is much higher than the 30-day average of 44.26%. The new Adoption Rate metric measures the percentage of active addresses that made their first transaction on a given day. This provides clear insight into the rate at which new investors are joining the Litecoin network. In summary, the growing number of funded addresses and higher demand from new investors confirm that the Litecoin network is growing. If it develops into explosive market demand, it could push LTC price up to $100. [HEADING=1][B]LTC Price Prediction: New target is $80[/B][/HEADING] From an on-chain perspective, LTC’s recent price breakout above $70 was largely driven by network growth. And with these metrics still trending upward, LTC is well-positioned to extend its rally towards $80. Global In/Out of the Money (GIOM – grouping current Litecoin holders by their entry price) data also confirms this bullish prediction. However, it shows that LTC must first scale the initial resistance at $76 for the bulls to confidently reclaim $80. As depicted below, 364,400 holders purchased 4.53 million LTC at an average price of $75.99. If those holders close their positions prematurely, they could slow down the price increase. But if the bulls push that resistance aside, LTC price is likely to reclaim $80 as predicted. [B]Source:[/B] [URL unfurl="true"]https://tradecoind2.com/evaluate-the-likelihood-of-ltc-price-reclaiming-100/[/URL] [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Money Making Forums
Cryptocurrency Forums
Cryptocurrency News by Tradecoind2
Top