(LTC), marking its 12th anniversary on Friday, has shown exponential growth over the years, with an increase from less than 10,000 to over 214 million addresses. Despite significant price drawdowns, notably in the 2022-2023 bear market, LTC’s price performance indicates a pattern of bearish cycles followed by bullish ones. The recent 46% pullback from its 2021 highs amidst prevailing market conditions suggests an upcoming bull cycle.
The cryptocurrency was trading at $61.52 on Friday, indicating potential for a relief rally. Market indicators such as the Relative Strength Index (RSI) point towards growing bullish strength despite the Money Flow Index (MFI) showing continued bearish outflows since October.
Whale activity presents a mixed picture. The largest holders, those with over 1 million LTC, have been selling since July, while mid-level holders with between 100,000 to 1 million LTC have remained inactive.
Charlie Lee launched Litecoin in 2011 to counter ‘s limitations like transaction speed and high fees. As of September 2023, Litecoin was valued at about $63.53.
The cryptocurrency also leverages faucets that reward users with free LTCs for tasks such as solving captchas or playing games. This concept was initiated by Gavin Andresen with a Bitcoin faucet website. Leading LTC faucets for 2023 include Cointiply, Coinpayu, Free-Litecoin.com, Fire Faucet, Allcoins.pw, Claim Free Coins and LitecoinFaucet.com. These platforms contribute to currency adoption and enhance brand awareness while offering varied payouts depending on market conditions.
The anniversary’s coincidental date on Friday the 13th was humorously noted as safe from “Jason and his machete.” The article also mentions the “Litecoin Profit Calculator” for portfolio assessment.
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