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Litecoin (LTC) "On Nice Run," Unlike Other Crypto, Here Are Reasons

Thu, 11/03/2022 - 09:34
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Yuri Molchan
Litecoin is still holding at $62 high achieved yesterday, here's what has been fueling it
Litecoin (LTC) "On Nice Run," Unlike Other Crypto, Here Are Reasons
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The digital silver, as Litecoin is often referred to, remains on "a nice run," per a recent tweet of Santiment data aggregator. The company's analysts are suggesting their reasons for Litecoin hitting a local high of $64 yesterday and LTC still holding around that level now.

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Image via CoinMarketCap

"Litecoin is on a nice run"

Santiment claims that Litecoin is temporarily getting decoupled from the rest of the crypto market. Besides, since the middle of June (or rather the end of May, per the chart in the tweet), wallets that hold 1,000 or more LTC coins have demonstrated a massive rise.

According to the tweet, Litecoin's price has growth versus that of Bitcoin by 51% since mid-June. At the time of this writing, LTC is changing at $62, showing growth of 12.62% over the past 24 hours, according to CoinMarketCap.

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MoneyGram gives LTC adoption a boost

In addition to that, the LTC price has received some support from the recent launch of a service that allows buying, trading and storing crypto by former Ripple partner MoneyGram. The crypto adopted by the company, aside from Litecoin, are Bitcoin and Ethereum.

Users can trade and hold these three coins in nearly all U.S. states, including the District of Columbia. This has become possible thanks to MoneyGram's collaboration with crypto exchange Coinme.

LTC founder Charlie Lee proudly shared that news on his Twitter page yesterday.

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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 yuri.molchan@u.today.