Analytics / Forex and Crypto News
The cryptocurrency began to add aggressively during the spring and early summer. Investors are buying Litecoin, as they fear that the supply of cryptocurrency will decline in August due to a reduction in the miners' reward. This can provoke a sharp increase in demand, so it’s best to buy LTC at lower prices than to buy coins after halving, when the price may turn out overbought.
However, Litecoin couldn’t break through the $200 mark, which was expected by many analysts. Today, Litecoin is trading around $120, it's market capitalization is just over $7.513 billion.
For the last six months, the maximum mark was recorded on June 22, when Litecoin was trading just above $143, but then a correction began, which led to descending of the price of the coin.
At the same time, over the last week, LTC showed the largest increase in value (+ 4,5%). Even Bitcoin could add only 1% in seven days, while all the other major digital currencies lost in value. Cardano lost up to 10% in a week. XRP lost 5,8%.
In anticipation of the halving, the LTC hash rate reached a record high of 468.1019 TH/s. Compared to December, the computing power used for Litecoin mining jumped by 220%.
Some experts still fear that a few days before the halving, the coin may suddenly become cheaper. In their opinion, it is possible to reduce the rate of LTC to $83.
During November, ICO-projects sold 416K ETH. This is the largest figure since the summer, reports Trustnodes.
According to Santiment, in August, ICO startups sold only 100,000 ETH. In September, sales of digital currency increased significantly, reaching 300 thousand ETH. In Nov