All you need to know about Litecoin’s latest milestone

AMBCrypto
AMBCrypto

28 Jun 2023 10:30 AM

Litecoin Foundation revealed that the blockchain’s hashrate has reached a new all-time high....

  • LTC's hashrate reached a new all-time high of 957.22 TH/s, indicating growing popularity in Litecoin mining.
  • However, LTC's hashrate has declined to 770.81 TH/s in the last 24 hours.
  • LTC's price has also dropped by more than 1% in the last 24 hours, potentially impacting the mining industry.
  • On-chain metrics such as price volatility, volume, and velocity reflect a bearish trend for LTC.
  • Some market indicators, like the declining distance between EMAs and a bullish MACD, suggest a potential bullish crossover.
  • The MFI is near the overbought zone, which could lead to selling pressure in the future.

The article presents a mixed sentiment, with some positive indicators for Litecoin's mining industry but also bearish signals in terms of price decline and on-chain metrics.

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You May Ask

What is the current hashrate of LTC?How has LTC's price performed in the last 24 hours?What are some bearish on-chain metrics for LTC?What are some bullish market indicators for LTC?What potential impact can the MFI being near the overbought zone have on LTC?

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