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Litecoin (LTC) Jumps 29%, Here’s What Propelled This Surge

Wed, 11/23/2022 - 10:05
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Yuri Molchan
Data revealed by Santiment shows what likely drove LTC up 29%
Litecoin (LTC) Jumps 29%, Here’s What Propelled This Surge
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Santiment data aggregator has spread the word about what was the likely driver of the 29% surge of Litecoin in the past 24 hours

LTC regains high last seen in May, here’s what may be behind it

According to the analytics team of the company, over the past 14 days, large wallets have been grabbing a massive amount of Litecoin — $42.4 million worth of LTC. The accumulating wallets contain between 1,000 and 100,000 Litecoin.

This was “the key to watch” for the price surge of LTC above the level of $80 per coin for the first time since May. By now, the price has gone down a little, sitting at $78.77.

At the start of the year, “digital silver” — as LTC is widely known in the crypto community — was changing hands at the $150 level, since then having dropped by more than 50%.

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LTC growth driven by MoneyGram

In early November, Santiment also tweeted that Litecoin was on a “nice run” as it jumped nearly 8%, decoupling from the rest of the crypto market. According to the company’s experts, it was down to the growth of wallets holding more than 1,000 LTC.

Besides, Ripple’s former partner, MoneyGram, gave Litecoin a boost as it launched a service that enables customers to hold, trade and transfer Litecoin, Bitcoin and Ethereum. The service so far operates in the U.S. after a collaboration of MoneyGram with Coinme crypto exchange began.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at