Litecoin’s transaction milestone underscores a healthy path of adoption that might be aided by real-world utility. LTC price approaches ascending support after a mid-week pivot. Litecoin has struggled to escape the shadow of bears for a long while now. However, this has not stopped the project from proceeding with its purpose. In fact, the coin […]
It seems Litecoin has demonstrated its resolve to maintain a robust adoption rate. This is evident in its latest offering which intends to expand real-world usage.is now active and available across Europe.
Regulators in the U.S. recently urged banks to cease facilitating transactions with crypto platforms. Such regulatory measures may limit crypto’s ability to access liquidity. However, Litecoin’s card program may provide an alternative for not just spending but bridging that gap between crypto and traditional consumer markets.If the above scenario plays out, then we can expect to see more utility and adoption further down the road. Such a move would result in a surge of daily active addresses. The latter registered a large spike in the last three days as FUD increased in the market.Despite the spike in active addresses, the transaction volume remained relatively low.
A sneak peek at the supply distribution confirms that there was very little shift in addresses with the largest LTC holdings. In other words,Regardless of the above findings, Litecoin’s price action pivoted in favor of the bears since mid-week. A 10% downside allowed LTC bulls to enjoy a brief celebrationLTC has been trading within an ascending price channel and the latest bearish outcome puts it closer to the ascending support.
Litecoin may drop below $90 and as low as $87 if the bears remain dominant. Such a drop can facilitate a retest of the current support level.Subscribe to get it daily in your inbox.
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