Altcoin News by Thebittimes.Com

The Litecoin Network shared news it had just processed its 180 millionth transaction. In contrast only 39 million transactions were recorded last year. Mixed signals Litecoin, one of the first altcoins, created to help complete cryptocurrency transactions quicker and at a cheaper rate, shared an update that so far in 2023, the network has processed 51 million transactions, setting a new record. The price of Litecoin has been consistently following a downward trend since the most recent halving on Aug. 2 with many “crypto whales” selling off their holdings in the pre-halving price spike that occurred in July.  CoinMarketCap reports Litecoin currently sits in the 15th spot on the list of cryptocurrencies by market cap at a price of $61.47. You might also like: Litecoin and Monero stumble, DigiToads retains bullish momentum A secondary cause for concern comes down to the project’s GitHub repository, which has shown no code commits have occurred in 5 months...

The third Litecoin (LTC) halving is only hours away, and market data indicates a surge in LTC trading activity in the last 24 hours. This halving happens every 840,000 blocks, according to Litecoin’s whitepaper. At the time of writing, the countdown clock on the OKLink platform indicated that there were less than 11 hours left to the event. Litecoin $LTC halving is just HOURS away. pic.twitter.com/2CoOpVzdzs — Altcoin Daily (@AltcoinDailyio) August 2, 2023 The previous halving in 2019 led to a significant uptick in Litecoin’s value. Per historical data from CoinMarketCap, between Aug. 2 and Aug. 9, 2019, in the run-up to the last halving , LTC prices see-sawed between $91 and $95, finally skyrocketing to $105.59 on the day of the halving itself.  Litecoin during the 2019 halving | Source: CoinMarketCap Unsurprisingly, the anticipation for the 2023 event is palpable, with Litecoin experiencing a demand surge primarily attributed to the approaching halving . Acc...

This latest model has undergone extensive testing periods to prove its superiority over previous versions, hence the launch of the hardware. Altogether, BIT Mining has rolled out three models of LD-specific ASIC mining machines since last year when it acquired Bee Computing, a mining hardware producer. With each model, there is a significant advancement that is introduced. advertisement Xianfeng Yang, the Chief Executive Officer (CEO) of the mining company explained that “With each new model of mining machine that BTCM develops, we further calibrate our expertise, gaining additional experience with manufacturing products that help contribute to essential blockchain networks. The sophistication of our new model LD4 mining machine is currently unmatched in our industry.” “As one of the world’s top cryptocurrency mining machine brands, we remain committed to continuing to develop new mining machines with the latest technology and promoting...

With the advent of new crypto assets, Litecoin [LTC] took a backseat. While developments pertaining to the network did not take a backseat, the asset’s popularity surely did. However, times were certainly changing as digital silver was making a comeback. According to recent data curated by on-chain analytics firm Santiment, Litecoin whales were active once again. Whales that were harboring more than 1 million LTC had reportedly expanded their holdings over the last month. Throughout the previous five weeks, these whales have purchased nearly $3 million worth of Litecoin. Source Elaborating on the same, Santiment tweeted, “Litecoin’s mega #whale addresses are holding their highest level of available supply since June, 2017, according to @santimentfeed data. In the past 5 weeks, 2.95M $LTC were accumulated by addresses with 1M or more coins held, valued at $219.6M.” It should be noted that recently, Litecoin made headlines after a significa...

Volatility has been the theme of the crypto market this month. Thanks to the downfall of the FTX empire, all hopes for “Moonvember” was shattered. While several assets including Bitcoin [BTC] witnessed a huge slump, a few others managed to thrive even during these difficult periods. Throughout this week, the coveted top 10 barely amassed any gains. While the FTX contagion persists, here are the top three assets that were pocketing double-digit profits this week. 1. Huobi Token [HT] Exchange tokens weren’t doing so well following the downfall of FTX. However, Huobi ’s native asset HT was seen changing this narrative. Earlier today, rumors about Huobi merging with Justin Sun’s Poloniex crypto exchange began surfacing. Following this, the price of HT has been on the rise. At press time, the asset was trading for $5.78 with a 10 percent daily surge. Over the last seven days, HT managed to pocket 23.96 percent gains. The crypto currency hit a high o...

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...

Whale interest in Litecoin ( LTC ) seems to have rejuvenated. According to Analysis firm Santiment, LTC ’s wallet activity and whale transactions have exploded this week. The firm took note that over $1 million worth of transactions took place on the network. Furthermore, the firm highlighted that the wallet activity and whale transaction spike took place when LTC began rising against Bitcoin (BTC). ⚡️ #Litecoin has been quietly under the radar in 2022, but address activity & whale transactions have exploded this week. Particularly with $1m+ valued transactions on the network, the timing of these spikes happened just as $LTC began rising vs. $BTC. https://t.co/jtQYW7mHuP pic.twitter.com/brIzjj6lFF — Santiment (@santimentfeed) October 20, 2022 On the other hand, Litecoin’s volatility is the lowest it has been in two years, as per the data on Messari. Source: Messari Moreover, the issuance of new LTC tokens has gradually gone down over t...