Litecoin price has reached a key psychological triple-digit level. Meanwhile, the accumulation for ‘silver to bitcoin gold’ continues.
Litecoin has finally passed the $100 price level, posting a nine-month high during the early hours of February 2.
According to analytics firm Sentiment, there has been a great deal of LTC accumulation in recent months.
The ‘Shark’ group has been hoarding Litecoin since late December. Shark wallets hold 100 to 10,000 LTC, and the ones above that are whales.
Sentiment also noted that approximately 0.5% of the entire supply of Litecoin has been added to these wallets over the past seven weeks. As a result, LTC is back to prices not seen since May 2022.
litecoin mastercard partnership
The recent momentum has been fueled by the announcement of a new partnership for Litecoin. On January 30, the Litecoin Foundation announced that it had partnered with Unbanked and Mastercard. A new Litecoin card program is now available to residents of the UK and Europe, it turns out.
Charlie Lee, the founder of Litecoin, said:
“Unbanked has been a fantastic partner delivering an LTC powered card program within the United States when others were unable and the Litecoin Foundation looks forward to working with them to expand even further.”
Analysts are watching the performance of LTC ahead of its previous halving event. According to the countdown, Litecoin’s next halving will be on August 3, 2023, which is just 181 days away.
Popular crypto trader ‘Satoshi Flipper’ has posted a chart predicting where LTC price could be headed if history rhymes. A pump similar to the one before the last halving could see prices rise to around $180 over the next few months.
Litecoin rose above $100 during the Asian trading session on Thursday morning. The ‘silver to bitcoin gold’ hit a nine-month high of $102.34 before a slight decline. At press time, LTC was trading above $100 with a 3.5% gain on the day.
Furthermore, LTC has outperformed its crypto brethren over the past two weeks, adding 22% while most others have consolidated. The next major resistance area lies near the $130 level, which was last seen in March 2022.
However, the asset is still down 75.4% from its May 2021 high of $410.
BeInCrypto endeavors to provide accurate and up-to-date information, but shall not be responsible for any missing facts or incorrect information. You comply and understand that you should use any of this information at your own risk. Cryptocurrencies are highly volatile financial assets, so do your research and make your own financial decisions.