Litecoin re-claims May 2022 highs due to its 37% rally Litecoin re-claims May 2022 highs due to its 37% rally
The past few weeks were characterized by consolidations and horizontal price movements. As a result, trends on assets’ charts had been quite monotonous. The state of affairs have, however, completely flipped over the past day. Litecoin, for instance, went on to register two successive long green candles on the daily. From yesterday’s low of $61.07, the asset’s price went on to claim $83.66, noting a 36.99% increase in value. Post noting brief retracement from the said highs , the 13th-ranked cryptocurrency was trading at $79 at press time. As illustrated below, the current levels were last registered by Litecoin back in May 2022 before this. LTC/USDT | Source: TradingView What fuelled Litecoin’s surge? Data from Santiment brought to light that addresses HODLing 1k-1000k of LTC have increased their supply as of late. The same currently stands at a seven-month high. In fact, they have collectively added $43.4 million worth of the asset in just the past...