Litecoin Market Value Drops 1.74% Amid Bearish Trends
Bitcoin's struggle impacts Litecoin, which has seen a 1.74% drop over the past 24 hours, lowering its market price to $124.77 and market cap to $9.42 billion. Speculation arises regarding a potential retest of the $100 level.
Litecoin Market Dynamics
- Large holders' net flow for Litecoin remains mostly positive, except for February's decline.
- Over the last 90 days, net flow increased by 121.12k LTC, with a 2.26% change.
- Whales now hold 10.81% of Litecoin's supply (8.24 million LTC).
- Retail holdings grew to 39.1 million LTC, while investor holdings reached 28.92 million LTC.
- Non-retail concentration is at 37.16 million LTC, representing 48.73% of total supply.
- Whale holdings decreased by 16.34% in the last month, while investor holdings rose by 4.91%.
Transaction Volume Surge
- Large transactions on the Litecoin network surged from $3.12 billion to $10.57 billion, over a 200% increase in six months.
- This indicates growing interest in the Litecoin network amid ongoing developments regarding a Litecoin ETF.
ETF Approval Outlook
- Chances of Litecoin ETF approval in 2025 have risen to 84%, up from 39% in January.
Price Analysis
- LTC's price trend shows sideways movement between $98 and $136.
- A recent intraday pullback of 3.93% indicates bearish pressure.
- Analysts suggest a potential retest of the $98 support level, contingent on network growth and whale activity.
- A breakout above $140 may target higher psychological levels at $150 and $200.