Litecoin (LTC) was among the few bright spots for the crypto market which had to endure the negative effects of the collapse of the FTX exchange platform.<\/p>\n
In the midst of one of the worst implosions that the space has ever witnessed, LTC momentarily became vulnerable, plummeting all the way down to $49.58.<\/p>\n
But the cryptocurrency stood its ground<\/a>, though,\u00a0while the likes of Bitcoin and Ethereum were sent crashing to various monthly lows and eventually commenced its own rally to close November on a high note.<\/p>\n As a result, Litecoin exited last month with an index price of $76.52 and registered an impressive jump of 24% within a 30-day period.<\/p>\n The altcoin is also performing well during the first days of December. At the time of this writing, according to tracking from Coingecko<\/a>, the digital coin is changing hands at $83.11, with an uptick of 10.8% in the last seven days.<\/p>\n Aside from the sustained surge in trading price, LTC is also witnessing positive developments in other areas.<\/p>\n For instance, according to data shared by CoinWarz, the asset\u2019s mining hash rate has once again hit another all-time high<\/a>, peaking at 613.81 TH\/s.<\/p>\n Within four months, the Litecoin blockchain<\/a> has recovered from the decline it experienced back in July, rallying by 64%.<\/p>\n\n Image: Cryptotelegram<\/p>\n Moreover, as of December 3, the DeFi network has established its highest difficulty level since going online, recording a block height of 2,379,925. The average difficulty of Litecoin blockchain translates to a value of 19.52 million according to Messari.\u00a0<\/p>\n Meanwhile, profitability was one gray area for the altcoin, as most of its holders were unable to make profit from their investment during the previous month.<\/p>\n As of November 30, LTC had a 30-day moving average of -149,000 for its Network Realized Profit\/Loss (NPL). In addition, during the same time, Litecoin had a -28% Market Value to Realized Value (MVRV) ratio.<\/p>\n This indicated that despite the crypto experiencing price growth, in November, some of its investors still held at a loss.<\/p>\n Although LTC managed to block the effects of the crypto market meltdown that was triggered by the FTX implosion, there is a possibility that the asset may experience price correction soon.<\/p>\n According to the forecast of online cryptocurrency information provider Coincodex<\/a>, this could happen within the next five days with LTC losing almost 8% of its value to change hands at $76.33.<\/p>\n Moreover, 30 days from now, the crypto is expected to recover a bit and trade at $80.75, although this value is also lower than the current one it has.\u00a0<\/p>\n\n LTC total market cap at $5.9 billion on the daily chart | Featured image: InsuranceHub, Chart: TradingView.com<\/a><\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Litecoin (LTC) was among the few bright spots for the crypto market which had to endure the negative effects of the collapse of the FTX exchange platform.<\/p>\n In the midst of one of the worst implosions that the space has ever witnessed, LTC momentarily became vulnerable, plummeting all the way down to $49.58.<\/p>\n But the cryptocurrency stood its ground<\/a>, though,\u00a0while the likes of Bitcoin and Ethereum were sent crashing to various monthly lows and eventually commenced its own rally to close November on a high note.<\/p>\n As a result, Litecoin exited last month with an index price of $76.52 and registered an impressive jump of 24% within a 30-day period.<\/p>\n The altcoin is also performing well during the first days of December. At the time of this writing, according to tracking from Coingecko<\/a>, the digital coin is changing hands at $83.11, with an uptick of 10.8% in the last seven days.<\/p>\n Aside from the sustained surge in trading price, LTC is also witnessing positive developments in other areas.<\/p>\n For instance, according to data shared by CoinWarz, the asset\u2019s mining hash rate has once again hit another all-time high<\/a>, peaking at 613.81 TH\/s.<\/p>\n Within four months, the Litecoin blockchain<\/a> has recovered from the decline it experienced back in July, rallying by 64%.<\/p>\n Image: Cryptotelegram<\/p>\n Moreover, as of December 3, the DeFi network has established its highest difficulty level since going online, recording a block height of 2,379,925. The average difficulty of Litecoin blockchain translates to a value of 19.52 million according to Messari.\u00a0<\/p>\n Meanwhile, profitability was one gray area for the altcoin, as most of its holders were unable to make profit from their investment during the previous month.<\/p>\n As of November 30, LTC had a 30-day moving average of -149,000 for its Network Realized Profit\/Loss (NPL). In addition, during the same time, Litecoin had a -28% Market Value to Realized Value (MVRV) ratio.<\/p>\n This indicated that despite the crypto experiencing price growth, in November, some of its investors still held at a loss.<\/p>\n Although LTC managed to block the effects of the crypto market meltdown that was triggered by the FTX implosion, there is a possibility that the asset may experience price correction soon.<\/p>\n According to the forecast of online cryptocurrency information provider Coincodex<\/a>, this could happen within the next five days with LTC losing almost 8% of its value to change hands at $76.33.<\/p>\n Moreover, 30 days from now, the crypto is expected to recover a bit and trade at $80.75, although this value is also lower than the current one it has.\u00a0<\/p>\nLitecoin Has A Healthy Blockchain But Holders Failed To Make Profit<\/h2>\n
Price Decline Could Happen For LTC Within Next Few Days<\/h2>\n
Litecoin Has A Healthy Blockchain But Holders Failed To Make Profit<\/h2>\n
Price Decline Could Happen For LTC Within Next Few Days<\/h2>\n