• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
Breaking News: Bitcoin Price Retests $27K Following Fed Rate Decision
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Bitcoin Price Retests $27K Following Fed Rate Decision
Litecoin

Litecoin Continues To Surge As Hash Rate Records New ATH – How About LTC Price?

Christian Encila by Christian Encila
4 months ago
in Cryptocurrency news
Reading Time: 3 mins read
Advertisement

Litecoin (LTC) was among the few bright spots for the crypto market which had to endure the negative effects of the collapse of the FTX exchange platform.

In the midst of one of the worst implosions that the space has ever witnessed, LTC momentarily became vulnerable, plummeting all the way down to $49.58.

But the cryptocurrency stood its ground, though, while the likes of Bitcoin and Ethereum were sent crashing to various monthly lows and eventually commenced its own rally to close November on a high note.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

As a result, Litecoin exited last month with an index price of $76.52 and registered an impressive jump of 24% within a 30-day period.

The altcoin is also performing well during the first days of December. At the time of this writing, according to tracking from Coingecko, the digital coin is changing hands at $83.11, with an uptick of 10.8% in the last seven days.

Related Reading: TRON Unfazed By Decreasing Volumes, Tallies $1 Billion In USDT Inflow

Litecoin Has A Healthy Blockchain But Holders Failed To Make Profit

Aside from the sustained surge in trading price, LTC is also witnessing positive developments in other areas.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

For instance, according to data shared by CoinWarz, the asset’s mining hash rate has once again hit another all-time high, peaking at 613.81 TH/s.

Within four months, the Litecoin blockchain has recovered from the decline it experienced back in July, rallying by 64%.

Litecoin

Image: Cryptotelegram

Moreover, as of December 3, the DeFi network has established its highest difficulty level since going online, recording a block height of 2,379,925. The average difficulty of Litecoin blockchain translates to a value of 19.52 million according to Messari. 

Meanwhile, profitability was one gray area for the altcoin, as most of its holders were unable to make profit from their investment during the previous month.

As of November 30, LTC had a 30-day moving average of -149,000 for its Network Realized Profit/Loss (NPL). In addition, during the same time, Litecoin had a -28% Market Value to Realized Value (MVRV) ratio.

This indicated that despite the crypto experiencing price growth, in November, some of its investors still held at a loss.

Price Decline Could Happen For LTC Within Next Few Days

Although LTC managed to block the effects of the crypto market meltdown that was triggered by the FTX implosion, there is a possibility that the asset may experience price correction soon.

According to the forecast of online cryptocurrency information provider Coincodex, this could happen within the next five days with LTC losing almost 8% of its value to change hands at $76.33.

Moreover, 30 days from now, the crypto is expected to recover a bit and trade at $80.75, although this value is also lower than the current one it has. 

Related Reading: What’s In Store For Cardano This December – Will ADA Be Merry Before Christmas?

LTC total market cap at $5.9 billion on the daily chart | Featured image: InsuranceHub, Chart: TradingView.com
Tags: altcoinblockchaincryptocurrencyhash rateLitecoinltcmining
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Christian Encila

Christian Encila

Related Posts

Pooky, The NFT Football Prediction Game That Pays, Launches Today

Pooky, The NFT Football Prediction Game That Pays, Launches Today

12 hours ago
Bitcoin

Bitcoin Price Action Mirrors Q1 2021, Volatility Ahead?

23 hours ago
Ethereum (ETH) number of addresses surges

Number Of Ethereum Addresses In Profit Hits 10-Month High As ETH Continues Rally

1 day ago
Bitcoin

Bitcoin Coinbase Premium Continues To Decline, Buying Pressure Ending?

1 day ago
Ethereum bull

On-Chain Data Indicates Ethereum’s Bullish Trend Could Continue

1 day ago
Bitcoin

Quant Explains How Bitcoin ‘ESR’ Can Act As Leading Indicator For Price

1 day ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

ShibaLauncher: First Community Driven Launchpad on Shibarium Opens Token Pre Sale To SHIB Holders

March 25, 2023

As the competition in the derivatives market heats up, BitMake is poised to stand out

March 25, 2023

BNB (BNB) Stagnates, Collateral Network (COLT) Presale Takes Off, And Avalanche (AVAX) Loses Ground

March 25, 2023

Don’t Be Slow! TMS Network’s (TMSN) Presale Is Selling Out Fast As Aptos (APT) And Avalanche (AVAX) Fall To A New Low

March 25, 2023

IBC Group Incubates Chirpley, Pioneering a New Era of Digital Marketing with Nano-Micro Influencer Marketplace

March 25, 2023

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.

Links

Crypto Prices from Nomics

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

© 2022 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins
  • Play Finance

© 2022 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.