Litecoin before halving: falling key figures and market indicators, despite positive acceptance development

Litecoin before halving: falling key figures and market indicators, despite positive acceptance development

the Litecoin threw is only 23 days away, but the key figures and market indicators of LTC have so far been negative. Nevertheless, Litecoin Bitcoin has exceeded BitPay payments, which indicates increasing acceptance. The whale activities around the coin have also increased.

Although the hype about halving and increasing acceptance looks promising, the price of LTC has not yet reacted accordingly. The weekly and day charts show red changes. The question is whether these updates will be sufficient to increase the value of the coin in the coming days.

According to a tweet of the Litecoin Foundation, the value of LTC was even a little above that of BTC in Bitpay payments. With BTC, the proportion was 34.6 %, while LTC had a share of 34.9 %. This is particularly impressive because the halving of Litecoin is only 23 days away.

Although the halving normally changes the market mood and can lead to an increase in the coin price, this has not yet happened at the current time. The price of LTC has dropped by more than 3 % in the last 24 hours and 16 % in the past week. LTC is currently being traded for $ 93.38 and has a market capitalization of over $ 6.8 billion, which makes it the eleventh largest cryptocurrency.

The Hashrate of Litecoin has also dropped, which indicates a drainage of miners. Litecoin's miner income has also declined. Despite the downward trend, there are still whale activities and LTC remains quite stable. Nevertheless, most key figures were pessimistic, with declining daily active addresses and a falling MVRV ratio.

A look at the day charts shows further declining signs. The relative stringth index from Litecoin has dropped and the MacD has shown a declining crossover. Nevertheless, the exponential moving average ribbon could continue to favor the bears in the coming days.

Overall, the condition of Litecoin is mixed before halving. Although acceptance increases and Bitpay payments BTC exceeds, the price of LTC has not yet reacted positively. The negative key figures and market indicators indicate that a trend reversal is unlikely. It remains to be seen how the halving will affect the LTC Prize in the next few weeks.

sources:
- Nicehash (image source): https://cnews24.ru/uploads/076397d605f05e86bdefe5fdbe2dc917405.jpg
- Coinmarketcap: https://coinmarketcap.com/
- Glassnode (image source): https://cnews24.ru/uploads/82ef8F75375CFD246D4D4D0A26FD8fa1d78d.png
- Glassnode (image source): https://cnews24.ru/uploads/f519ac2e683c64c4d1e38df69bf383e6a1.png
- TradingView (Image Source): https://cnews24.ru/uploads/b08d4adac11e494f78924148484c7aede865a.png

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