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Why Litecoin (LTC) Price is Up Today?

Author: Qadir AK

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Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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In a volatile market, the price of Litecoin has recently risen. LTC Price defied the downward trend in the market by generating gains of 19% over the previous week to lead the top 100. The alternative currency increased by 13.7% over the previous day, rising from $61.53 to $70.10.

As On-chain metrics suggest investors are hodling $LTC . Analysis of Glassnode data suggests users increasingly view Litecoin as a store of value. The Santiment report reveals that LTC’s daily on-chain transaction volume in profits was 153,000. On the opposing end, the daily on-chain transaction volume in the loss was 163,000.

The social engagement and mentions Metrics hint that the altcoin maintained a favorable position, according to the LunarCrush statistics. Platform suggested that despite being in 98th place, the increase in social levels has impacted LTC’s market reaction.

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