#LTC📈

Litecoin Adds $1 Billion to Its Market Cap, Long-Term Holders Start Liquidating

Litecoin (LTC) saw its market cap grow by 15% in the past week, adding $1 billion as its price reached a two-year high of $119.64.

This surge has led long-term holders (LTH) to sell their coins to secure profits. However, the LTC price rally is showing signs of continued momentum.

Long-Term Litecoin Holders Gain

BeInCrypto’s on-chain assessment of LTC’s vitality metric has revealed a spike in the number of coins recently moved or spent. According to Glassnode, it is currently at a year-to-date high of 0.71. For context, as of November 1, LTC’s vitality has dropped to a year-to-date low of 0.69.

The asset’s vitality provides insights into the spending behavior of its long-term holders. Measures the percentage of coins that have been recently moved or spent. When it rises, it indicates that many long-term holders are liquidating their positions.

LTC Price Prediction: Bulls Remain in Control

:Despite the selling activity by long-term holders, the bullish bias towards LTC remains significant. At press time, LTC is trading above the Ichimoku Cloud, confirming the positive momentum in the market.