Litecoin Peaks at $114: On-chain Data Suggests Temporary Stop in Growth

The crypto market saw Litecoin (LTC), one of the top ten cryptocurrencies by market capitalization, concluding the past week with over 25% gain. On July 3rd, LTC’s market value surpassed $8 billion, making a leap to its year’s peak at $114. Although market analysts predict a gradual continuation of the surge in the leading altcoin, on-chain data suggests this rise could come to a halt, at least temporarily. A Warning of Up to 40% Drop for LTC With approximately 40 days remaining until Litecoin’s block reward halving, there’s a strong anticipation of bull runs surrounding the popular altcoin. While analysts give high price targets hinting at further increases for LTC, on-chain data signal investors to be cautious. Noted crypto analyst Ali Martinez issued a downturn warning for LTC, stating: The current 30-day MVRV of Litecoin hovers around 35%. When we look at past data, it is observed that every time […] The post Litecoin Peaks at $114: On-chain Data Suggests Temporary Stop in Growth appeared first on COINTURK NEWS.