Miners continue to get rid of Litecoin

The recent price rally triggered by the favorable court ruling in the Grayscale case has not helped Litecoin stay afloat.

One of the key reasons for the continued decline has been increased selling pressure from miners.

According to data from analytics platform IntoTheBlock, they got rid of 540,000 LTC worth about $34 million over the past month.

If the trend continues unabated, Litecoin's price could be in danger of a bearish reversal towards $50.

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