Summary
TLDR: Litecoin price rose from $68 to over $100 due to Bitcoin influence, but quickly corrected back to $95. Nearly 351,000 frustrated investors are waiting for LTC to cross $100, with $400 million worth of LTC stuck in limbo. Long-term holders are holding onto their LTC, while short-term holders are transferring supply to mid-term holders. If LTC can breach $104, it could rally further, but failing to hold $96 could restart bearish momentum. Always conduct your own research before making financial decisions.
Key Points
1. The Litecoin (LTC) price rise was directly influenced by Bitcoin, with the altcoin rising from $68 to crossing $100 before correcting back down to $95.
2. Nearly 351,000 investors holding LTC have been waiting for the cryptocurrency to cross the $100 mark for nearly ten months, with about 3.96 million LTC worth nearly $400 million stuck in limbo due to the unstable price of Litecoin.
3. The supply transfer from short-term holders to mid-term holders is seen as a positive development, with nearly 2 million LTC worth $190 million moving into the wallets of mid-term holders in the last three days. This shows conviction among Litecoin investors as they await the cryptocurrency to climb above $100 again.