• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Sensei Inu Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Breaking News: BREAKING: Valkyrie Secures Green Light For Ethereum Futures ETF, Trading Launching Tomorrow
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: BREAKING: Valkyrie Secures Green Light For Ethereum Futures ETF, Trading Launching Tomorrow
Litecoin
Sensei Inu Logo

Litecoin Becomes 10th-Largest Cryptocurrency, But Is There Still Room To Run?

Best Owie by Best Owie
3 months ago
in LTC
Reading Time: 3 mins read

Litecoin has seen one of the most impressive runs of any cryptocurrency over the last couple of weeks and this run has propelled the altcoin’s standing in the industry. After rallying more than 30% over a period of three weeks, the digital asset is now the 10th-largest cryptocurrency in the space.

LTC’s Market Cap Crosses $7.1 Billion

In the space of a month, the price of Litecoin’s native LTC token shot up from its June lows of $71 and moved as high as $115 before the rally burned out. Following this, the market cap of the digital asset moved up rapidly, beating out some heavy hitters in the space.

Related Reading: Bitcoin Sharks And Whales Go On $2.15 Billion Buying Spree, Is It Time To Sell?

Currently, the market cap of the altcoin is sitting above $7.1 billion, despite the price falling back below the $100 level. Its market cap now makes it the 10th-largest cryptocurrency in the market, coming out ahead of the likes of Polygon (MATIC), Tron (TRX), and Bitcoin Cash (BCH).

Litecoin’s standing now makes it the seventh most valuable cryptocurrency in the market when stablecoins are removed from the top 10. This move has also solidified Litecoin’s position as an important player, despite its price correction.

Litecoin (LTC) price chart from TradingView.com

LTC price hits local high of $115 before correction | Source: LTCUSD on TradingView.com

Could Litecoin Run Further From Here?

The biggest bull case for the price of LTC is the Litecoin halving event that is coming up. Only 20 days away from now, investors are already gearing up for what is expected to be a very significant event. These expectations also naturally extend to the price and this could be the reason that the digital asset’s price continues to rise.

Just the anticipation from the last month alone has seen the price cross $115 at its local high. But as the event draws closer and this bullish sentiment continues, the LTC price could quickly reclaim this price and run another 50%.

Litecoin

LTC halving event happening in 20 days | Source: Litecoin Halving

In one instance, crypto analyst Michael van de Poppe has predicted that LTC could rally as high as $200 off the halving event alone. If this happens, then investors could be looking at gains of over 100% just from the current bounce-off point.

However, one concern is that the Litecoin halving could end up being a ‘buy the rumor, sell the news’ event. Examples of this have been the Cardano Alonzo upgrade in 2021 and Ethereum’s Shapella upgrade in 2023.

Related Reading: Analysts Puts Bitcoin At $125,000 By 2024, How Is This Possible?

In both of these cases, the token prices rallied in the weeks leading up to the event but eventually fell flat and retraced once the event was completed. So if Litecoin ends up in the same trend, then it would be best to sell in the weeks leading up to the event.

For now, LTC’s price is still holding steady at $97, despite nursing 8.09% losses on the 7-day chart.

Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet… Featured image from iStock, chart from TradingView.com
Tags: LitecoinLitecoin Halvingltcltc priceltc/usdLTCUSDT
Tweet123Share196ShareSend
Best Owie

Best Owie

Best Owie is a seasoned managing editor with a wealth of experience currently serving as the Managing Editor at NewsBTC. Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors. Best is a true professional in every sense of the word with an exceptional dedication to producing high-quality work.

Related Posts

Litecoin

Litecoin Stuck In A Rut: Will Bullish Momentum Or Bearish Pressure Prevail?

5 days ago
Litecoin

Litecoin Eliminates Pre-Halving Gains As Volume Drops, Is A Fall To $50 Coming?

2 weeks ago
Litecoin

Litecoin Price Momentum: Will It Sustain Above The $63 Mark?

4 weeks ago
Litecoin price LTC

Litecoin Price Prediction: LTC Faces Uphill Task Near $70

1 month ago
Litecoin

Litecoin Sharks Buy More Than 200,000 LTC Ahead Of Wednesday’s Halving

2 months ago
Litecoin

Litecoin Whales Purchase $59 Million Worth of LTC As Halving Event Approaches

2 months ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Press Releases

  • Investing in Trading 212: Is the Risk Worth the Reward?

    1 day ago
  • Bitcoin Spark: Cross-Chain with Polygon, BSC, and Cosmos

    2 days ago
  • Explosive Surge: Curve DAO and Everlodge on a Wild Pumping...

    2 days ago
  • The DeFi Big Three: Solana (SOL), Chainlink (LINK), and...

    2 days ago
  • Plus 500 Reviews Get Moderate Risk Rating From Trading...

    2 days ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Win 8.88 BTC
  • Play Casino Games
  • Play Finance

© 2023 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.