Litecoin’s price rally started on April 14th and has continued ever since. The LTC price has increased by 30% since April 13th. Increasing trade volume indicates that the price rally may be prolonged. With its ever-increasing trade volume, Litecoin’s price is only 13% away from ATH.
Among the top altcoins, Litecoin has gained over 60% in the last 30 days. At the current price level of $ 325, Litecoin continues to be underestimated. Recent developments in Litecoin point to an increase in altcoin’s price, like an increase in high-volume transactions. The price of Litecoin has increased by about 200% last year.
According to the price chart above, the price rally started in April, after staying on the border for most of March. Less than 50% of Litecoin investors are HODLers, and the concentration of large HODLers is declining. Although DOGE and DOT surpass LTC in terms of market capitalization based on CoinMarketCap data, blockchain sentiment based on IntoTheBlock’s analysis is on an upward trend.
As Litecoin is accepted wherever PayPal exists, there is an increase in demand from retail traders. Uniswap’s market value was a psychologically significant turning point for the LTC Hodlers and traders. Almost all Litecoin traders are profitable. Less than 20% holding Litecoin for less than a month indicates a high short-term return on investment in the case of Litecoin.
Based on data from Messari, the short-term return on investment for Litecoin keeps it bullish enough for investors to buy even at the current price level. Unlike most other altcoins, there is demand on spot exchanges without waiting for consolidation, while the altcoin remains below its value. The correlation of Litecoin with Bitcoin is less than 50% and the same is true for Ethereum, but despite the low correlation, Litecoin’s price rally is expected to continue.