litecoin

Litecoin ended its sell-off and now is trading at 84.27 far above yesterday's low of 81.77. Bitcoin's current growth helped the altcoin to rebound as well. It has increased by 3.23% from yesterday's low to 84.41 today's high. Despite the current rebound, LTC/USD is still down by 1.86% in the last 24 hours and by 3.19% in the last 7 days. The buyers are still in the game but a larger growth is still far from being confirmed.

LTC/USD Uptrend Intact!

 

As you can see on the H4 chart, the rate dropped within a down channel.

This could represent a bullish formation. The altcoin turned to the upside again after retesting the uptrend line.

The false breakdowns announced that the sell-off could be over. The weekly pivot point of 85.93 and the downtrend line represent upside obstacles and immediate targets.

 

LTC/USD Outlook!

A valid breakout above the downtrend line may announce a larger growth and is seen as a buying opportunity.

 

 

Litecoin (LTC) Explained - The Way It Works, Terms Associated With LTC

Litecoin (LTC) Explained - The Way It Works, Terms Associated With LTC

Binance Academy Binance Academy 02.02.2022 09:37
TL;DR Litecoin (LTC) is an altcoin founded in 2011 by former Google engineer Charlie Lee. It aimed to be the lite version of Bitcoin that enables nearly instant and low-cost payments. Litecoin adopted the code and certain features of Bitcoin in its blockchain, but it prioritizes transaction confirmation speed to facilitate a higher transaction per second (TPS) and a shorter block generation time. Due to its similarity with Bitcoin, the Litecoin blockchain has been used as a testing ground for developers to experiment with technologies they want to implement on Bitcoin. For example, Segregated Witness (SegWit) and Lightning Network were run on the Litecoin blockchain before Bitcoin. Litecoin has a total supply of 84 million. Similar to Bitcoin, it is deflationary in nature and halves every 840,000 blocks (approximately every 4 years). The next halving is expected to happen in August 2023. Litecoin can be purchased on various cryptocurrency exchanges, including Binance.  Learn more on Binance.com   Introduction Litecoin (LTC) is one of the oldest of all altcoins on the market. When it was first introduced in 2011, Litecoin was branded as “the silver to bitcoin’s gold” for its blockchain was largely based on Bitcoin’s code. While some crypto investors view Bitcoin as a good store of value, Litecoin is often seen as a better option for peer-to-peer payments due to its lower confirmation time and transaction fees.     What is Litecoin (LTC)? Litecoin (LTC) is one of the first altcoins. Created by former Google engineer Charlie Lee in 2011, its blockchain was developed based on Bitcoin’s open-source codes. But Litecoin introduced certain modifications, such as a faster block generation rate and a different Proof of Work (PoW) mining algorithm called Scrypt.  Litecoin has a limited total supply of 84 million. Similar to Bitcoin, Litecoin can be obtained from mining and has a halving mechanism that occurs every 840,000 blocks (roughly 4 years). The last LTC halving was in August 2019, where the block rewards were halved from 25 LTC to 12.5 LTC. The next halving is expected to take place in August 2023.   How does Litecoin work? As a modified version of Bitcoin, Litecoin was designed to facilitate cheaper and more efficient transactions than the Bitcoin network. Like Bitcoin, Litecoin adopts the Proof of Work mechanism to enable miners to earn new coins by adding new blocks to its blockchain. However, Litecoin doesn’t use Bitcoin’s SHA-256 algorithm. Instead, LTC uses Scrypt, a hashing algorithm that can generate new blocks roughly every 2.5 minutes, while the Bitcoin block confirmation time takes 10 minutes on average.  Scrypt was initially developed by the Litecoin development team to grow its own decentralized mining ecosystem away from Bitcoin’s system and make the 51% attack on LTC more difficult. In the early days, Scrypt allowed for more easily accessible mining to those that used the traditional GPU and CPU cards. The goal was to prevent ASIC miners from dominating LTC mining. However, ASIC miners were later developed to mine LTC efficiently, causing GPU and CPU mining to become obsolete. As Bitcoin and Litecoin are somewhat similar, Litecoin was often used as a “testing ground” for developers to experiment with the blockchain technologies to be adopted on Bitcoin. For example, Segregated Witness (SegWit) was adopted on Litecoin before Bitcoin in 2017. Proposed for Bitcoin in 2015, SegWit aims to scale the blockchain by segregating out the digital signature from each transaction to better utilize the limited space on a block. This allowed the blockchains to process more transactions per second (TPS). Another scaling solution, the Lightning Network, was also implemented on Litecoin before Bitcoin. Lightning Network is one of the key components that makes Litecoin transactions more efficient. It is a layer 2 protocol created on top of Litecoin’s blockchain. It consists of micropayment channels generated by users, allowing for lower transaction fees. In addition, Litecoin is aiming to tackle the transaction privacy problem by adopting a privacy-oriented protocol called MimbleWimble Extension Block (MWEB). It’s named after the tongue-tying spell from the Harry Potter books, which prevents the victim from revealing information. Similar to the spell, MimbleWimble allows transaction information, including the sender and receiver’s addresses and the amount of crypto sent, to remain completely anonymous. At the same time, MWEB eliminates unnecessary transaction information, and the block sizes are more compact and scalable. As of December 2021, the Litecoin MWEB protocol is still under development.   Litecoin Use Cases As one of the first altcoins, Litecoin improved upon Bitcoin’s code to increase its scalability for faster transactions and lower fees. Despite not being able to compete with Bitcoin in terms of market cap, it has a competitive advantage as a peer-to-peer payment system. In fact, the Litecoin Foundation announced in November 2021 that LTC could be used as a payment method via the Litecoin VISA debit card by converting LTC into USD in real-time. In addition, certain businesses have added Litecoin as a payment method, spanning across travel companies, convenience stores, property agencies, and online stores.  Another thing to note is the highly-anticipated MimbleWimble release on the Litecoin network. MimbleWimble not only can obfuscate the wallet addresses in a transaction, but it could also potentially double Litecoin’s TPS. If successfully implemented, the upgrade can further enhance the privacy and fungibility of LTC transactions. However, there is no set release date on the mainnet as of December 2021.   How to buy Litecoin on Binance? You can buy Litecoin from crypto exchanges like Binance.  1. Log in to your Binance account and go to [Trade]. Choose either the [Classic] or [Advanced] trading mode to start. In this tutorial, we will select [Classic]. 2. Next, type “LTC” on the search bar to see a list of the available trading pairs on Binance. We will use LTC/BUSD as an example.     3. Under [Spot], choose the order type and enter the amount to buy. Click [Buy LTC] to place the order, and you will see the purchased LTC in your Spot Wallet.         Closing thoughts Litecoin has shown an ongoing development effort to be “the silver to bitcoin’s gold” since its debut in 2011. While it isn’t as popular as Bitcoin or Ethereum (ETH) in terms of market capitalization, the Litecoin community is expecting further development that can bring enhanced features and use cases.
Litecoin Finally Saw A Deeper Corrective Decline

Back to Altcoins - What Are They? (ADA) Cardano Price, (LTC) Litecoin And Bitgert (BRISE) Analysis

Rebecca Duthie Rebecca Duthie 12.04.2022 11:36
Altcoins refer to any other form of cryptocurrency other than Bitcoin, that means almost every other coin out there is an Altcoin. There are different types of altcoins; such as Stablecoins, Mining-based coins, Stacking-based coins and Governance tokens. Stablecoins are cryptocurrencies that are designed to replicate the price of another asset. Mining-based coins are cryptocurrencies that use a mining process to verify transactions and produce more coins. Stacking-based coins are the same as mining-based coins except they use a process called Stacking to verify transactions and produce more coins. Governance tokens are cryptocurrencies that give holders voting rights to help shape the future of the project. Altcoins can add diversity to your investment portfolio, they’re worth investing in if you're willing to do your homework! Cardano revolutionizing smart contacts A smart contract is one that happens between 2 parties on its own,the terms of the agreement between the parties is directly written into a line of code. The code and the agreements resulting exist across a distributed, decentralized blockchain network. Over the past month, we have seen the price of Cardano peak and fall, today the price is sitting at $0.954, a -5.6% change between yesterday and today, however the cryptocurrency seems to be on the rise this morning. Other than current market conditions and cryptocurrency volatility, the reason for the fall in the price of Cardano can be attributed to the high competition from Bitgert BRC20 Chain. Cardano Price Chart Related article: ECB To Shock Markets In The Following Week!? US Dollar Rate Under Pressure As Well! Bitgert Wins in Growth and Development According to some sources, Bitgert (BRISE) currently has one of the most powerful blockchains today. Whilst other cryptos have been underperforming, BRISE has managed to pull through with incredible returns. BRISE is the first BRC20 blockchain or the gasless blockchain, with their innovation and constant growth, they are performing exceptionally well in the cryptocurrency market. Today BRISE's overall price started low but it seems to be recovering, this is definitely a cryptocurrency to watch for in the future. BRISE Price Chart Litecoin(LTC) was released around the same time as Bitcoin which makes it amongst one of the oldest cryptocurrencies in the market Litecoin was released around the same time as Bitcoin which makes it amongst one of the oldest cryptocurrencies in the market, it is still in the top 10 top regarding market cap. The only difference between Bitcoin and Litecoin is the time in which it takes to generate a block, Litecoin takes 75% less of the time it takes Bitcoin to generate a block. We have seen the value of Litecoin rise and fall within the past month. Once the volatility of the crypto market calms down, hopefully the price of this coin will stabilize. Litecoin Price Chart Related article: What Is MoonPay? MoonPay's Role in Trading Cryptocurrencies Charts: finance.yahoo.com & coinmarketcap.com
Crypto News: Is LiteCoin starting new bounce off key support?

Crypto News: Is LiteCoin starting new bounce off key support?

8 eightcap 8 eightcap 04.05.2022 06:55
Today’s focus is on Litecoin as price has started a new push higher after holding once again at 97.15 key support. Most coins are firm at this point in the day as buyer interest continues to pick up. We saw this yesterday, but things changed in the US session, and gains turned to losses. Could today be different? It’s a hard call as the FOMC is due in today’s US session, and a lot may come down to the FOMC statement and what it spells for rates moving forward. Recently crypto hasn’t reacted well to Fed policy adjustment news to help rein in inflation. Rates are expected to rise today, but could that be factored in? The real worry could be if the Fed commits to a very aggressive stance that exceeds market expectations. That could put pressure on risk markets to the USD and give the USD a boost. As noted, crypto has not reacted well in these situations, so it could be an interesting FOMC today. Back onto today’s focus, Litecoin looks to be setting up from a solid base with 97.15 key support holding for buyers since January this year. Since that point, we are yet to see a close below that support level. We have seen a few false starts off it, but while it continues to hold, there continues to be a floor for buyers. If things support crypto markets today after the FOMC, could we see today’s rally extend and break the current fast downtrend? Buyers do face some resistance at 100.35 and 103.90. If we see these levels cleared, that could be a good sign that buyers are trying to get a new up leg going. If we see a rally follow on, the next test will be the downtrend that caps the current descending triangle pattern. The CCI has also moved above the 0 point showing bullish conditions. We stress again today’s FOMC could have an impact on the current picture. The FOMC statement and federal funds rate is due at 4:00 am AEST, and the press conference follows at 4:30 am AEST. LiteCoin D1 Chart The post Crypto News: Is LiteCoin starting new bounce off key support? appeared first on Eightcap.
Epic Games and Lego Group are collaborating to build a metaverse. Ubisoft is partnering with Reality Labs to create a NFT collection

Magic Eden Is The Latest NFT Marketplace | The World Of Football And Skateboarding At The NFT (PSG x Clown Skateboards)

Crypto.com Accelerate the... Crypto.com Accelerate the... 21.10.2022 11:03
Key Takeaways Solana-based Magic Eden has become the latest NFT marketplace to shift to an optional royalties model, following in the footsteps of X2Y2 in August. Under this model, buyers can make the decision on how much royalties to pay. Playing card brand Bicycle bought a Bored Ape Yacht Club NFT for US$187,000. The brand plans to create and sell physical playing cards based on the Ape. Bicycle specifically chose an Ape with a joker playing card in a helmet — only 2% of the 10,000 Apes have this attribute. NFT fantasy sports gaming platform Sorare is launching a free-to-play digital collectible-based fantasy basketball game in partnership with the NBA. Players can collect NFT trading cards featuring NBA basketball players, as well as assemble and manage teams. X2Y2 recorded a -30% decrease in sales and a -10% decrease in transactions. Meanwhile, OpenSea‘s sales were positive at +39% and its transaction count also increased +66%. The total market cap for GameFi tokens now stands at $7.2 billion, down -7% from last week. Crypto.com NFT in the Spotlight The “Halloween Bash – Create Your Own Halloween Monster” NFT collection allows users to explore endless combinations in pursuit of creating their completely unique creature. A collaborative effort between seven prominent NFT creators, this drop is cementing itself as a major show of artistic excellence. “PSG x Clown Skateboards” features the worlds of football and skateboarding, as well as the two beloved cities of Paris and London, with accompanying easter eggs. This NFT collection is created by Clown Skateboards‘s Jeff Boardman and Vikas Malik, in collaboration with the Paris Saint-Germain football club. NFT Highlights Azuki reveals physical backed tokens for on-chain ownership of physical items Shopify users get their hands on Tezos NFTs with new partnership Digital real estate platform sells house as an NFT Coinshares launches experimental new NFT pricing tool Latin American exchange Lemon integrates with NFT marketplace TravelX to allow airline ticket purchases GameFi Highlights GameFi platform Arcade raises $3.2M led by Crypto.com and other prominent investors DappRadar says Decentraland has 650 daily active users Major League Baseball is hiring to expand its NFT, digital games and metaverse presence Web3 infrastructure firm ChainSafe raises $18.75M as attention shifts to GameFi Japan’s Konami seeks to hire talents to advance Web 3, metaverse, and NFT efforts NFT Transaction Benchmark The following chart shows select top NFTs and their historical floor prices: Top Collections The following table shows select top creators (by sales volume on each platform) and a sample of their art: PlatformCollectionSales Volume (USD)Sample Crypto.com NFT Loaded Lions $99,000 Minted VVS Miner Mole $59,000 Magic Eden DeGods $2,235,000 OpenSea CryptoPunks $3,623,000 Platform Crypto.com NFT Collection Loaded Lions Sales Volume (USD) $99,000 Sample Platform Minted Collection VVS Miner Mole Sales Volume (USD) $59,000 Sample Platform Magic Eden Collection DeGods Sales Volume (USD) $2,235,000 Sample Platform OpenSea Collection CryptoPunks Sales Volume (USD) $3,623,000 Sample GameFi Top Gainers & Losers Top Games Metrics Daily Gamers by Blockchain Disclaimer The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Nothing in this report is intended to suggest that NFTs are investment products, nor securities, nor anything similar or “financial” of any description. NFTs are to be reserved for fun only and NOT with any expectation of “value”, “profit”, “yield” or “investment”. You are also aware that NFTs are not a store of value, are not a generally accepted medium of exchange, and are considered very illiquid and volatile.
The Crypto Market Is Also Highly Volatile, So Drastic Price Swings Require Traders To Think Fast

Cryptocurrencies After Bitcoin - Altcoins And Meme Coins

Kamila Szypuła Kamila Szypuła 19.11.2022 16:33
Cryptocurrencies are certainly an area that has become increasingly popular in recent years. However, it requires some familiarity with new terms and understanding how the modern investment market in this industry works. Altcoin Definition At the very beginning, only Bitcoin was known as the first cryptocurrency in the world that was based on blockchain technology. But the question arises, what is an altcoin? It is primarily a term for an alternative coin, built from the combination of the English words alternative and coin. An altcoin is any new currency that was created after Bitcoin, even if it uses the same software. Altcoin vs Bitcoin Altcoins are referred to as cryptocurrencies or tokens - regardless of the name, they share similar keys used to transfer currency between owners' virtual wallets. Many types of altcoins are built on a similar system as Bitcoin, but each has distinctive features - some focus on improving features that Bitcoin was less than perfect. Altcoin is a lower value currency, which makes it perfect for smaller transactions. There is also a difference between Bitcoin and altcoin in terms of the number of cryptocurrency units in circulation or determining the maximum number of coins. More and more cryptocurrencies are becoming serious competition for Bitcoin, and Altcoins worth attention are primarily those that use ready-made platforms or create their own with a specific specificity. Thanks to this, several of the largest Altcoins stand out on the market, such as: Ether, Ripple and Litecoin. Memecoins What is it? Meme coins are cryptocurrencies inspired by memes or jokes on the Internet and social media. Meme coins are usually very volatile. They are mostly community driven and can go viral overnight with online community endorsements and FOMO. Still, their price may also drop unexpectedly as investors turn their attention to the next meme coin. Another feature of meme coins is that they often have a huge or unlimited supply. Since meme tokens generally do not have a coin-burning mechanism, the huge supply explains their relatively low prices. For just $1, you can buy millions of meme tokens. The first The first meme coin created was Dogecoin (DOGE). Released in 2013 as a parody, DOGE was inspired by the popular Doge meme, which is a Japanese Shiba Inu dog with a rather funny expression. Other meme coins Shiba Inus (SHIB) is DOGE's rival and is often referred to as the "Dogecoin Killer". The main difference between DOGE and SHIB is that the latter has a limited supply of 1 quadrillion tokens. Dogelon Mars (ELON) closely follows the dog duo in terms of popularity. As the name suggests, ELON is named after Tesla CEO Elon Musk and his passion for SpaceX. ELON is a fork of Dogecoin and has a supply of 557 trillion tokens in circulation. The risk As with all cryptocurrencies, trading and investing in meme coins involves high financial risk. Compared to BTC, most meme coins tend to be inflationary with no maximum supply. Their ecosystem, uses, and foundations are often defined by collective community jokes. Only a few meme coins have been built on big cryptocurrency technology. Another potential risk is that meme coins are heavily community-driven and more speculative than larger market cap cryptocurrencies. This instability constantly leads to unexpected ups and downs. The life cycle of meme coins is generally short-lived. FOMO Discussing meme coins, FOMO appeared as a factor affecting the situation of cryptocurrencies, but what is it? FOMO is short for "Fear of Missing Out", so it's also a psychological term. In practice, the FOMO phenomenon can be illustrated with a simple example in which you learn about a new coin with huge potential. Everyone is talking about it, and the media is starting to present it as the new Bitcoin. Everything indicates that its price will increase rapidly and rapidly, so in fear of missing out, you decide to buy it without much thought. This is FOMO, i.e. taking action not based on analysis and reason, but emotions related to the fear of missing the "opportunity". FOMO also can be a marketing strategy to use by creating investor fear of losing out as a way to encourage investors to act. Source: investing.com,
Analysis Of The Litecoin Cryptocurrency Movement

Litecoin Is First In Percentage Change In Price Over 7 Days

ByBit Analysis ByBit Analysis 24.11.2022 15:07
Despite the recent market downturn largely attributed to FTX’s downfall, Litecoin (LTC) has been moving in the opposite direction, with its price pumping by 35% over the past week, reaching a high of $81.52. This ranks Litecoin first in percentage change in price over seven days, and sixth in terms of 24-hour volume. Source: CoinMarketCap Source: CoinMarketCap This price pump has significantly increased Litecoin’s market capitalization, surpassing both meme coin Shiba Inu (SHIB) and Solana (SOL). Source: CoinMarketCap Source: Santiment According to analytics by Santiment, this drastic rise in price and valuation of Litecoin can be attributed to increased Litecoin accumulation by whales. As evident from the chart above, addresses holding from 1,000 to 100,000 Litecoin accumulated $43.4 million of value.  Given the surge in LTC's price, is it a good investment now? In this article, we’ll explain what Litecoin is, why it has remained a top crypto, the risks of investing in it and whether you should either trade or invest in Litecoin. What Is Litecoin (LTC)?  Also widely known as Digital Silver, Litecoin is an open-source, global peer-to-peer (P2P) cryptocurrency network that allows people to send payments worldwide quickly and inexpensively. Founded on October 13, 2011, Litecoin was created as a fork of Bitcoin (BTC) to improve on three main issues faced by the Bitcoin network: Speed: Long Transaction Times Scalability: Frequent Network Congestion Centralization: Concentration of Mining Pools Litecoin was founded by former Google employee and Coinbase engineering director Charlie Lee, who decided to create a “lighter” version of Bitcoin that would allow for faster transactions and more scalability, along with lower transaction fees. Litecoin was built to use the Scrypt algorithm with a proof of work (PoW) consensus. Scrypt is more cost- and power-efficient, and accessible, than the SHA-256 algorithm used by Bitcoin. This makes it possible for regular consumers to use Scrypt to mine Litecoin, lowering the barrier to entry for miners and enhancing the decentralization of mining power. Litecoin Halving With Litecoin’s PoW mechanism, miners are rewarded with LTC when they complete a block. Similar to Bitcoin, the rewards for mining Litecoin decrease over time in a process known as halving. The following are the key dates for Litecoin rewards halving: August 25, 2015: From 50 LTC per block down to 25 LTC August 5, 2019: From 25 LTC per block down to 12.5 LTC August 23, 2023: From 12.5 LTC per block down to 6.25 LTC History of Litecoin Here are the key milestones achieved by the Litecoin team: 2011: Creation of Litecoin Charlie Lee forks Bitcoin, modifying Bitcoin’s code with several enhancements. 2013: Charlie Lee Joins Coinbase as Engineering Director Litecoin experiences positive price action, soaring by 10x from $3 to $30 when the news is released. 2017: Technological Advancement The adoption of SegWit and the Lightning Network layer further enhance Litecoin’s 2017: Controversy Charlie Lee sells all of his Litecoin holdings in December, coinciding with the time Litecoin peaks in price, undermining the faith of investors and creating speculation about Lee’s potential manipulation of Litecoin prices. However, Lee clarifies that he acted over concerns of his growing influence on Litecoin, which could lead to a conflict of interest. More details can be found Price History of Litecoin Here’s a timeline of Litecoin’s price action since its launch. 2011 Launched just two years after Bitcoin, Litecoin quickly gains followers and reaches a high of $0.30. 2013 In Q4, Litecoin experiences a price increase of 1,000%, reaching an all-time high of $44.53. 2014 – Mid 2017 After the euphoria of a 1,000% price increase, the price of Litecoin drops significantly over the next three years, trading below $5 and reaching a low of $1.38. Mid 2017 – End 2017 In April, Litecoin’s price finally manages to surpass the $5 mark and skyrockets to a high of $319.26 in December, an increase of over 6,000%. End 2017 – End 2020 The price surge is once again unsustained, and as the cryptocurrency market crashes in 2018, LTC’s price plunges to between $20 and $130 over the next two years with many cryptocurrencies experiencing the same fate. 2021 LTC manages to reach an all-time high of $345.30 in May 2021, breaking the previous high of the 2017 bull market. 2021 – Current Given the approaching bear market and poor macro conditions, the cryptocurrency market as a whole takes a beating, with LTC’s price also in a downturn since its all-time high. How Litecoin Remains a Top Crypto Even After a Decade Having existed for a decade, Litecoin’s valuation still remains within the top twenty cryptocurrencies in the market. As a matter of fact, with its recent surge in price, it’s managed to make its way to the top fifteen. There are still growth opportunities, given its technical potential and the leadership of Charlie Lee, who possesses great technical expertise. Following are some of the unique advantages effected by Litecoin that could potentially make LTC a good investment. Higher Scalability Litecoin generates blocks every two and a half minutes, which is four times faster than Bitcoin’s block mining time of ten minutes. As such, Litecoin’s network is able to achieve greater throughput. Faster Transaction Speed Litecoin has a transaction processing speed of 54 TPS, which is markedly higher than Bitcoin’s transaction processing speed of 5 TPS. Decentralization Scrypt is used to power Litecoin’s PoW consensus mechanism, giving the network a lower barrier to entry and allowing more individuals to participate in Litecoin mining. This contributes to the network’s decentralization, given that mining power is no longer concentrated among bigger players who can afford mining. Lower Transaction Fees Litecoin has a fee structure 1/50th the size of Bitcoin’s, which significantly reduces transaction costs. Privacy Function The Litecoin Improvement Proposal of November 2019 included the MWEB (Mimblewimble Extension Block) update, which would improve anonymity for both senders and receivers of transactions on Litecoin’s network.  Now, with the majority of nodes having given their permission, MWEB is finally available. Activated on May 19, 2022, this upgrade has brought substantial privacy feature enhancements to the Litecoin network. Transactions can be kept private while they’re getting verified. With MWEB, users can opt in as necessary to conduct private transactions, and transaction anonymity is guaranteed — so that the transaction amounts are only known to the sender and receiver. Moreover, MWEB is more comprehensive than its recently implemented privacy measures for Litecoin users alone. MWEB also makes significant advancements to blockchain operations. For instance, its cut-through capability assists in removing all unnecessary transaction data from blocks so that long transactions are condensed into a single one. In other words, the block only records one input-output pair, eliminating the need to record each input and output separately. This contributes to network efficiency. Widespread Usage 3,070 businesses accepted LTC as payment in January 2022, a relatively large number. Due to its quick adoption, Litecoin has become one of the most popular cryptocurrencies for investments with practical uses. The Litecoin Foundation asserted in January 2022 that Visa would permit owners to use the Litecoin Card to spend Litecoin. Coinbase, BitPay, NOWPayments, CoinGate, Alliant and CoinPayments are examples of cryptocurrency-native payment processors that accept Litecoin payments. Online retailers can accept Litecoin payments through e-commerce systems such as Shopify and WooCommerce. Good Traction In 2021 and 2022 the Litecoin team has hit multiple milestones. In 2021, Litecoin saw the introduction of the OmniLite token creation platform, which enables developers to build NFTs and construct their own bespoke cryptocurrencies on the network. Liteverse, the first NFT marketplace on the Litecoin network, was introduced in 2022. A Litecoin-based Lightning Network mobile wallet, as well as user-friendly MWEB-integrated mobile wallets, have also been announced by the developers. Given the abovementioned properties of Litecoin as a blockchain and the developments they’ve accomplished within the past two years, one can argue that Litecoin is indeed a cryptocurrency to invest in. Is Litecoin a Good Investment? Despite the pros of Litecoin as mentioned in the previous section, there still remains risks to investing in it. The privacy function mentioned above serves as a double-edged sword for Litecoin, having also attracted negative attention. Despite the excitement surrounding transaction confidentiality that Litecoin has introduced with Mimblewimble, problems have appeared on the regulatory front, particularly with regard to Know Your Customer (KYC) and anti-money laundering (AML) rules. On June 8, 2022, just a short while after Litecoin’s official launch of the MWEB protocol, five leading South Korean exchanges — Upbit, Bithumb, Coinone, Korbit, and GOPAX (now closed) — delisted Litecoin. Following the implementation of strict regulation and an outright ban on Dark coins by regulators in 2020, South Korean exchanges have avoided privacy-related cryptocurrencies. Should You Trade or Invest in Litecoin? You can choose to purchase Litecoin and keep it as an investment item in your wallet. If price changes are significant, owning this virtual currency will give you a chance to gain from capital appreciation. Holding Litecoin for an extended period may also pay off nicely as its price reaches new heights whenever Bitcoin soars. Otherwise, you can choose to trade Litecoin with either spot or derivatives trading, each of which can accommodate long and short positions. To learn whether investing or trading is better suited to you, check out our article here. How Much Should You Invest? The number one rule for all crypto investment is not to invest more than you can afford to lose. This applies whether you’re a beginning or advanced trader. Also, diversification is a well-known practice — such as investing no more than 10% of your portfolio in any altcoin. When applied to trading, the main rule is straightforward: Never trade more than 1% of your capital in a single transaction. Stick to this rule, and your funds will be protected.  Where to Trade or Invest in Litecoin You can buy Litecoin on most cryptocurrency exchanges to hold for an extended period. However, you can also trade perpetual contracts to speculate on LTC, with a predetermined price at a specified time in the future. For instance, Bybit offers both the LTC/USDT Spot pair and LTCUSDT Perpetual contracts. You can buy LTC with the USDT stablecoin via a Perpetual contract with leverage. Simply fund your verified account with USDT, or convert another cryptocurrency to USDT.  Be sure to also take advantage of Bybit’s ongoing zero fees campaign for all Spot pairs, and trade LTC/USDT without any fees. Sign up for a Bybit account now and start trading!   Closing Thoughts Overall, there are multiple factors that contribute to the value of Litecoin. Other than the faster, more scalable and decentralized design of the blockchain itself, Litecoin has also achieved significant traction with regard to adoption and usage.
The G20 And IMF Are Already Preparing Their Crypto Regulation

Bitcoin And Ethereum Have Managed To Retain Their Positions As The Top Two Cryptocurrencies

ByBit Analysis ByBit Analysis 29.11.2022 13:39
Interest in cryptocurrencies has fluctuated over the past few years as wealth flows into the cryptocurrency market with every bull cycle, creating millionaires. What has remained constant despite the surge of new cryptocurrencies is the market dominance of Bitcoin, still the most valuable crypto since its launch. In recent years, Ethereum has become the strongest competitor for market share, grabbing the reins and overtaking Litecoin. As cryptocurrencies vie for market share, Litecoin has managed to remain within the top twenty in terms of market capitalization, even after a decade. To learn more about these three cryptocurrencies, please refer to these following articles: What Is Bitcoin? What Is Litecoin? What Is Ethereum? In this article, we’ll be looking at the differences between these three cryptocurrencies, particularly regarding consensus mechanism, hash algorithm, distribution, transaction speed and use cases. Growth of the Cryptocurrency Market Bitcoin was founded in 2009. Since then, the cryptocurrency market has arguably gone through three bull markets, specifically in 2013, 2017 and most recently in 2020, a particularly prominent year with various altcoins reaching all-time highs alongside Bitcoin’s ATH of $69,000 in November 2021. Other crypto market catalysts have included the DeFi Summer of 2020 and the market adoption of non-fungible tokens (NFTs). In addition, the periodic emergence of meme coins such as Dogecoin and Shiba Inu (in 2013 and 2020, respectively) has expanded the crypto market. The expectation of widespread crypto adoption is also a major factor in the growth of the cryptocurrency market. International firms have incorporated cryptocurrency into their operations in recent years, including payment giant PayPal. With such developments, the market adoption of cryptocurrency has grown, with consumers’ awareness increasing. Why Is Bitcoin So Popular? Cryptocurrencies have existed for well over a decade. Yet, through all of the rapid developments in the crypto market, Bitcoin still remains the dominant cryptocurrency. It runs on a blockchain, a decentralized publicly distributed ledger that contains encrypted records of every transaction that’s ever been made on the network, thus ensuring data security. Bitcoin’s underlying blockchain technology enables peer-to-peer transactions and eliminates the need for control by governments or other centralized financial institutions.  The surge in Bitcoin’s popularity is also attributed to the profits it’s brought about for its investors. With a stunning 69,000% increase in price from $100 in 2013 to $69,000 in 2021, Bitcoin successfully captured the market’s attention. At the same time, altcoins (cryptocurrencies other than Bitcoin) have also begun gaining bigger market share, the most prominent one being Ethereum, which has risen in the ranks to claim second place in overall market cap.  Litecoin, previously ranked second in market cap right behind Bitcoin, has been overtaken by multiple new cryptocurrencies, but has still managed to remain within the top twenty cryptos by market cap. In addition, its token, LTC, has recently gained the market’s attention once again as its price rose by 35% in just one week in the midst of an ongoing bear market. Litecoin vs. Bitcoin vs. Ethereum Bitcoin, Litecoin and Ethereum are all open-source software platforms, and their codes are publicly accessible. Despite all three cryptocurrencies being blockchain-based, there are certain underlying differences between them. Details Let’s start off with some specific details pertaining to each of these cryptocurrencies. Consensus Mechanism Since blockchains are publicly shared ledgers, they require an effective, fair, real-time, dependable and secure mechanism to ensure that all transactions taking place on the network are genuine. The consensus mechanism is essentially a set of guidelines to determine the validity of contributions made by the participants of the blockchain. In a blockchain’s dynamically changing environment, all participants have to agree on a consensus on the ledger’s status before transactions can be confirmed There are two main types of consensus mechanisms: Proof of work (PoW) and proof of stake (PoS). Using PoW, Bitcoin and Litecoin rely on miners, who solve complex mathematical equations using specialized hardware to add blocks to the networks. On the other hand, the Ethereum blockchain uses PoS, whereby validators stake their currency to validate new blocks on the blockchain. PoS requires significantly less computational power than PoW, which lowers both hardware requirements and energy consumption. Hashing Algorithm A hashing algorithm, which determines how incoming data is incorporated and verified on a blockchain, differs for the three cryptocurrencies. Bitcoin makes use of the SHA-256 algorithm and Litecoin uses Scrypt, while Ethereum previously relied on Ethash, no longer relevant since the network has switched to PoS as a part of its Ethereum 2.0 upgrade. The SHA-256 algorithm utilized by Bitcoin uses the computational power of GPUs (graphics processing units) and, to a lesser extent, CPUs (central processing units) to verify transactions and blocks. The most common method for Bitcoin mining consists of the use of application-specific integrated circuits (ASICs), a hardware system that can be tailor-made to mine Bitcoins. However, many people prefer not to use ASICs because they’re expensive, challenging to maintain and necessitate specialized knowledge. Bitcoin mining has become more centralized and exclusive, as fewer people have the skills, resources and time to buy, set up and maintain ASICs. This compromises the security and resilience of the network. Scrypt is a modified version of SHA-256, but is more memory-intensive, which is reputed to lessen its reliance on GPU arithmetic logic units (ALUs) and, consequently, ASIC mining equipment. Scrypt aims to make mining more accessible to individuals, as not all users can afford hardware equipment such as ASICs. This contributes to the decentralization of a network. Nonetheless, ever since Scrypt ASIC mining machines were built in 2021, Litecoin mining has once again fallen under the control of a few dominant players. Distribution Bitcoin (token: BTC) and Litecoin each have a supply cap on their number of tokens, with Bitcoin’s set at 21 million and Litecoin’s at 84 million. Since Litecoin has four times the supply of tokens, its network possesses greater liquidity as compared to Bitcoin. However, the scarcity of Bitcoin makes it more valuable. Ethereum, on the other hand, doesn’t have any ceiling for its supply of ETH. Nonetheless, its rate of growth is limited to 4.5% per annum. Mining Rewards Miners are rewarded for their efforts in the form of a blockchain’s native currency.  In 2009, Bitcoin started off with a 50 Bitcoin reward per block mined. After going through three halvings, the reward is now set at 6.5 BTC. Similarly, Litecoin began with a reward of 50 LTC per block mined. Following two halvings, the current reward stands at 12.5 LTC per block, with a third halving scheduled for 2023, which will reduce the reward to 6.25 LTC. These rewards are halved in order to limit the quantity of each cryptocurrency released into the circulating supply, thus creating scarcity. Bitcoin block rewards are halved every 210,000 blocks, while Litecoin block rewards are halved every 840,000 blocks. This difference is due to the different supply cap. Since Ethereum now utilizes a PoS consensus mechanism, there are no rewards for block mining. Instead, participants are rewarded by staking their Ether on the network to participate in block validation. Depending on the staking program in which users choose to participate, their rewards can fluctuate anywhere from 2% to 20%. Transaction Speed Another significant difference among the three cryptocurrencies lies in their transaction speeds, or TPS. Bitcoin processes approximately 5 TPS, and takes about 10 minutes to create a new block. In addition, Bitcoin software limits the size of a new block to 1MB. Not all Bitcoin transactions are processed within ten minutes. This is especially the case when the network is congested, due to a large number of transactions. Litecoin processes 54 TPS, taking approximately 2½ minutes to create a new block. Transactions on Litecoin are roughly four times faster than Bitcoin’s. As a result, Litecoin is often regarded as a currency for day-to-day transactions, while Bitcoin is considered to be more of a store of value. With its recent upgrade (The Merge), the Ethereum network is now able to handle up to 100,000 TPS.  Transaction Fee Bitcoin: ~$1 Litecoin: ~$0.012 Ethereum: Ethereum employs a different mechanism, called gas, in place of transaction fees. The amount of computational work necessary to complete a transaction is measured in gas. On the Ethereum network, users must pay gas fees in order to complete a transaction. They’re correspondingly assessed a gas fee for each individual transaction. Network Scalability One of the biggest issues for the Bitcoin network is scalability. The more users trying to send funds over the network at a given moment, the more congested it becomes. Since transaction fees are defined on the basis of an auction, those who make higher bids get their transactions confirmed first. This leads to high network fees and longer confirmation times. Though Litecoin has much lower fees, its network experiences the same problem. To speed up transaction time and lower transaction costs, Bitcoin and Litecoin have implemented some improvements. Among these are SegWit, which increases the block size limit by pulling signature data from transactions, and Lightning Network, which keeps transaction data off the blockchain. Since Ethereum has switched over to PoS, problems with scalability aren’t as prominent. However, scalability has been a major issue for the popular Ethereum network while it was using a PoW consensus. Layer 2 solutions were implemented as a partial remedy for Ethereum’s former transaction rate of 12–15 TPS. Use Case The use cases for each of these three cryptocurrencies differ quite drastically. Bitcoin: Bitcoin was created as a form of technology to allow for decentralized peer-to-peer (P2P) payments. However, its slow transaction speed makes it impractical for daily use, and it’s been referred to as digital gold, serving primarily as a store of value. Litecoin: Litecoin was forked from Bitcoin’s code to tackle issues of cost and scalability. These differences make Litecoin more favorable for merchants, since payments and transactions can be carried out quickly at a cheaper rate. Ethereum: Ethereum focuses on smart contracts, transfer of asset ownership and DApp (decentralized application) production. Smart contracts are software programs that take action when specific criteria are met. This procedure makes sure that every Ethereum transaction is secure for the user. Additionally, exchanges like the transfer of property or the exchange of money may be included in the contracts. Ethereum’s unique feature is that it allows programmers to directly interact with its underlying network, a capability that Bitcoin and Litecoin do not support. Should You Invest in Any of These Coins? The cryptocurrency market changes very rapidly, making it difficult for investors to choose the best investment options. With all the hype around the industry, many people are wondering if they should invest in either Bitcoin, Litecoin or Ethereum. New currencies are created in the market every month, and there’s no guarantee they’ll remain popular. Still, the three dominant currencies compared in this article have a strong user base, experienced developing teams and are available on most exchanges. All three of these currencies have already proven to be profitable for investors, and to have a good chance of growth in the next few years. Closing Thoughts The cryptocurrency landscape has changed drastically since its inception. Recently, more attention has been brought to the regulatory environment surrounding crypto. Despite all of this change and uncertainty, Bitcoin and Ethereum have managed to retain their positions as the top two cryptocurrencies by market cap. Litecoin, on the other hand, is no longer within the top three, but still holds its position among the 20 largest cryptocurrencies.  The crypto market is indeed an exciting one, with great potential despite its volatility and associated risks. If you’d like to take part in the market, sign up with Bybit today.
After consolidating between $73 support and $81 resistance for more than three weeks, Litecoin broke out of this pattern by breaking its lower limit

After consolidating between $73 support and $81 resistance for more than three weeks, Litecoin broke out of this pattern by breaking its lower limit

Geco One Geco One 21.12.2022 12:38
Bitcoin (BTC) Increasingly optimistic macroeconomic data and rising expectations for the Fed's pivot have seen Bitcoin rise by nearly $2,900 or 18.7% recently, returning to the previously defeated support (now resistance) of $18,500 and measuring 50% Fibonacci retracement from the earlier downward impulse observed in response to information about the collapse of the FTX exchange in the first half of November. However, a more hawkish than expected tone of the announcement and statements by CEO Jerome Powell after the December meeting of the Federal Open Market Operations Committee (FOMC) meant that there was a slight supply reaction during Wednesday's trading, which, combined with concerns about liquidity problems that may affect the Binance exchange contributed to BTC falling below USD 17,000. In the near future, Bitcoin may return even to the November lows of USD 15,600. However, this does not necessarily mean its permanent return to the downward path. Financial markets are still pricing in that the Federal Reserve will make just two more rate hikes of 25 basis points each at its meetings in February and March next year before moving from tightening to normalizing before the end of next year (September and December 2023). year) to make the first interest rate cuts. However, there are many indications that the near future of Bitcoin (and not only) will depend not on economic data and monetary decisions of the Federal Reserve but on reports on the financial condition and state of reserves of the Binance exchange. Because it is the world's largest virtual asset exchange platform, its possible collapse could cause an actual collapse, the scale of which would be at least several times greater than the sale caused by the collapse of the FTX exchange in the first half of November. For the entire cryptocurrency market, it would be a blow that would contribute to the loss of investor confidence, resulting in extending the cryptocurrency winter that has been going on for over a year, not by weeks or months, but by years. Therefore, until Binance proves that the state of reserves reflects the actual balances of exchange users' accounts and does not effectively repel concerns about possible liquidity problems, the cryptocurrency market will be dominated by horizontal and downward trends. Ethereum (ETH) Ethereum's quotations have recently increased by almost 26%, overcoming the horizontal resistance in the region of USD 1220 and returning to the previously defeated uptrend line, where a supply reaction appeared last Wednesday. The persistent rejection of this level led to a clear downward move, with ETH falling below the technical support of $1,220. If the sale continues, the cryptocurrency could move towards USD 1,100 in the near future or even further to USD 1,000. Bitcoin Cash (BCH) Bitcoin Cash recently fell below the technical support of $106. Since breaking one support usually signals the potential for further declines to the next, in this case, we could expect further depreciation towards USD 97 or even below USD 90 in the near future, which would be the lowest level since November 2022 one the lowest since December 2018. Litecoin (LTC) After consolidating between $73 support and $81 resistance for more than three weeks, Litecoin broke out of this pattern by breaking its lower limit. A dynamic downward rally made the LTC exchange rate quickly find itself in the area of the next support between USD 61.30 and USD 64.50. However, if this barrier is also broken, one should prepare for further depreciation towards USD 56.70 or even USD 50. Polygon (MATIC) The price of the Polygon cryptocurrency has fallen by almost 17% over the past few days. This sell-off brought the MATIC exchange rate back to the uptrend line, from which it has bounced several times in recent months. It is worth noting, however, that the demand reaction around this support this time is definitely weaker than those we have observed. This also increases the chances of breaking this level, which in turn would threaten further declines. If the currently tested uptrend line is broken, the MATIC could continue to rally south towards the $0.74-0.76 zone or even further to $0.70 or $0.61. XRP The supply pressure observed in the broad cryptocurrency market is also visible on XRP quotations. After a slight upward correction, the exchange rate of this cryptocurrency rebounded from the previously defeated support (now resistance) of USD 0.42, and for some time, we have been observing its decline again. There are many indications that XRP will soon return to the August, September and November lows of USD 0.32. However, if that support is broken this time, the sell-off could continue to the $0.30 mark, which would be the lowest level since July 2022 and one of the lowest since January 2021.
Eurodollar: InstaForex's analyst suggests making sales with objectives close to the predicted 0.9994 level, or 323.6% Fibonacci

ECB's Fabio Panetta's words could be shocking, Justin Sen (Tron) comments on Huobi

Alex Kuptsikevich Alex Kuptsikevich 09.01.2023 09:54
Bitcoin rose 2.2% over the past week, finishing near $17K. On Monday morning, a new upward momentum lifted the price to $17.2K, a new high in almost four weeks. Over the week, Ethereum has added 8% to $1310. Other top-ten altcoins gained between 3.4% (XRP) and 17.9% (Cardano). Total crypto market capitalisation, according to CoinMarketCap, rose 5.3% to $850bn for the week. The crypto market reacted positively to favourable news for the US stock market and negative news for the dollar, climbing to a new level. Such smooth growth is reminiscent of building a solid foundation for future recovery. On Monday, Bitcoin draws its sixth daily growth candle, increasingly confidently trading above its 50-day average. The largest and oldest altcoins are also attracting market attention. In addition to Ethereum, which is approaching December highs, Litecoin deserves attention. On Monday morning, its price jumped 7.5% to $82, which is in the region of November and December highs and near the highest levels since last May. The interest in long-only altcoins is an essential indication of the work of long-term buyers. In Meanwhile, investors are busy assessing the most ambitious and advanced projects' vulnerability. Justin Sun, a founder of Tron and advisor to Huobi, denied rumours of problems with the exchange The cryptocurrency community has heard rumours about the potential insolvency of the Huobi exchange amidst the outflow of funds, rumours of layoffs in the team and reductions in employee payments. Huobi has confirmed layoffs of around 20% of its staff. The NT exchange token has collapsed by 28% in the past month. Justin Sun, a founder of Tron and advisor to Huobi, denied rumours of problems with the exchange, stressing that users' assets are safe. Meanwhile, CryptoQuant said that Huobi was "in a vulnerable position", while analytics service Arkham explicitly urged subscribers to withdraw funds from the site. Digital Currency Group (DCG), troubled cryptocurrency broker Genesis's parent firm, announced the closure of its digital asset management subsidiary HQ Digital. Bloomberg reported that the SEC and other US regulators had investigated DCG. Cryptocurrencies have no intrinsic value and should be regulated like gambling, ECB executive committee member Fabio Panetta said.
Bitcoin amid recent banking sector situation: simply put, it is no longer a question of yield but safety

Litecoin blockchain has introduced a counterpart to the Ordinals protocol

Alex Kuptsikevich Alex Kuptsikevich 22.02.2023 11:20
Bitcoin once again failed to break through the $25K level. Initial technical resistance was later supported by strong negative momentum in US equity indices, where the Nasdaq100 lost 2.5%. On the weekly timeframe, the local situation looks like the market's inability to move into a bullish phase, as bitcoin sells off on touching the 50- and 200-week moving averages. Without a bullish reversal in the coming days, be prepared for another pullback to the $17.5K or even $16.5K area. Glassnode notes that bitcoin is holding up well in the face of current market dynamics and regulatory pressure and attributes this to a change in participant behaviour. The buy-the-dip pattern has re-emerged among short-term investors. However, the number of "whale" addresses with balances of 1,000 BTC or more has fallen to mid-2019 levels, indicating that the retail sector is acting as a buying driver and the whales are selling. News Background According to Bloomberg, Chinese authorities have tacitly supported Hong Kong's initiative to establish a blockchain industry development centre in the metropolis. Companies previously operating in mainland China can now register in Hong Kong. Despite rising prices, the Bank for International Settlements (BIS) estimated that the average retail investor would lose around half of their bitcoin investment between 2015 and 2022. The BIS reiterated its call for global coordination in cryptocurrency regulation, warning of the risks of increased spillover effects on the global financial system. Read next: Despite the rise in interest rates, we’ve seen over the past few months, the US economy has held up reasonably well, with strong growth in Q3 as well as Q4| FXMAG.COM The Litecoin blockchain has introduced a counterpart to the Ordinals protocol, which allows users to post various objects in images, text, video, and other formats.
Litecoin Still Calls For A Much Higher Upside

Litecoin Still Calls For A Much Higher Upside

Torben Melsted Torben Melsted 14.03.2023 08:16
The correction from the 105.67 peak became much deeper than expected. Therefore, we have been reviewing our possible counts and have updated our preferred scenario as follows. This count still calls for a much higher upside. The count shows that an expanded leading diagonal unfolded from the 40.33 low to the 105.67 high as wave 1 and the following deep correction is wave 2 or part of wave 2. We preferred wave 2 to be complete with the test of 65.71 or the 61.8% corrective target of the distance travelled from the low at 40.33 to the peak at 105.67. In the short term, we will be looking for a break above resistance at 90.50 confirming that the decline from 105.67 was corrective and likely has been completed and a new test of the former peak should be expected soon. In the longer term, we will be looking for much higher levels with 171.43 being the next major upside target to look for.     Relevance up to 07:00 2023-03-15 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/315943
Cryptocurrency Market Update: Bitcoin's Plunge and Crypto Fund Outflows! Crypto erases positive start to week

Cryptocurrency Market Update: Bitcoin's Plunge and Crypto Fund Outflows! Crypto erases positive start to week

Alex Kuptsikevich Alex Kuptsikevich 31.05.2023 08:57
Market picture Cryptocurrency market capitalisation fell 1.8% over the last 24 hours to $1.136 trillion. After failing to build on Wednesday's gains, the cryptocurrency market came under pressure during the Asian session on Wednesday morning as sellers moved into defensive assets.   Bitcoin plunged to $27K, losing more than 2.7% since the start of the day and erasing all of Sunday's gains. Technically, the selling intensified after the pair failed to break above the 50-day moving average, which turned from support to resistance in May. Market participants should now brace for another test of local support around $26K.   According to CoinShares, investments in crypto funds fell by $39 million last week, the sixth consecutive week of outflows. Bitcoin investments were down $12 million, and Ethereum investments were down $6 million.   Weekly trading volumes remain low, at 58% of this year's average, which also mirrors the broader crypto market, with trading volumes at just 38% of this year's average, CoinShares noted.     New background According to Dune Analytics, the number of Bitcoin Ordinals-based tokens issued on the network has surpassed 10 million. Approximately 200,000 tokens are being issued daily, including NFTs.   US presidential candidate Robert Kennedy Jr. reiterated his support for Bitcoin and said that the SEC should not have people who oppose cryptocurrencies.   Crypto exchange BKEX said it had suspended customer withdrawals while a police investigation into possible money laundering by several users is underway.   Major stablecoin issuer Tether announced plans to invest in mining capacity in Uruguay, South America.   Renowned cryptocurrency analyst Michaël van de Poppe believes that Litecoin is gearing up for a "pre-halving rally" that will begin in early August.

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