The cryptocurrency market is witnessing a bullish wave that Bitcoin started at the end of last year 2020, to continue this wave, and most alternative digital currencies are affected, including those who made a new peak and others on their way to that.
Where the Ethereum currency achieved a new record high, as did the “BNB” currency and the digital currency LINK …
As for the “LTC” Litecoin, whose performance is closely related to the performance of the Bitcoin currency, it may be on its way to its previous peak of $ 360, according to “coingecko”.
LTC is currently trading at $ 206, which is up by 13% in the last 24 hours, 33% in the last week, and 39% in the last 30 days.
Litecoin, which is called “digital silver”, is approaching as bitcoin is “digital gold” from its highest levels, with only 44% left to reach the record level previously recorded by the currency.
In January 2021, on the back of Bitcoin recovering its gains after surpassing the $ 40,000 level, the Litecoin price fell to $ 132.
However, the upside in the market ensured the ability of LTC to soon rise to its highest level not recorded in the past 35 months.
Despite the emergence of many new digital currencies and the rise in the ranking in terms of total market value, Litecoin still maintains its place among the top ten digital currencies.
LTC litecoin performance:
On the issue of numbers and data, Chainalysis revealed that Litecoin inflows (LTC) to trading platforms amounted to $ 172,847,528, as of February 13th.
These numbers were much lower than those recorded in mid-January when Litecoin last tried to breach the long-awaited $ 200 level.
Since the rise in inflows to trading platforms usually indicates and confirms increased selling pressure in the market, one can conclude that the current LTC market does not have much selling pressure.
Additionally, if the retained age of litecoin is taken into account, Chainalysis found that LTC held for 2 to 52 weeks increased LTC by an average of 703.11 thousand LTC in the past four weeks, the largest rise after 109 weeks. .
The longer the currency is held, the more likely the owners will use the asset as a store of value or are long-term investors.