Litecoin (LTC), one of the oldest cryptocurrencies in the market, is still calling the attention of the community as the price of the virtual currency stayed above $73 for several days now. While other virtual currencies couldn’t sustain their gains in recent days, Litecoin remained relatively stable.
Litecoin Updates: LTC Price Stays Above $70
Litecoin is currently being traded at around $73 per coin after a very positive month in which its price moved from $60 to over $75 a few days ago. This shows that Litecoin is aligned, in general terms, with the whole crypto market.
It is worth considering that Litecoin miners are also starting to hold more LTC compared to earlier this year before the halving event. According to IntoTheBlock, miners’ reserves have grown to reach their highest value since mid-August 2023. This clearly shows that miners are bullish about the future of this virtual currency, as they are starting to accumulate larger amounts of LTC.
Now, the question is linked to whether the market is or not in a bull market. A new bull market could push crypto prices higher in the coming months or even years. Nevertheless, it is not possible to know if LTC will join the trend.
In the past, Litecoin reached an all-time high of $410 per coin on May 10, 2021. As we can see, miners are accumulating coins and could be getting ready for a new bull market in the crypto industry.