{"id":323551,"date":"2023-06-28T16:00:14","date_gmt":"2023-06-28T10:30:14","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=323551"},"modified":"2023-06-28T11:50:58","modified_gmt":"2023-06-28T06:20:58","slug":"all-you-need-to-know-about-litecoins-latest-milestone","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/all-you-need-to-know-about-litecoins-latest-milestone\/","title":{"rendered":"All you need to know about Litecoin&#8217;s latest milestone"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">At the time of writing, LTC\u2019s hashrate stood at 770.81 TH\/s.<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">LTC price registered a decline, and a few on-chain metrics were bearish.\u00a0<\/span><\/em><\/li>\n<\/ul>\n<p>The <span style=\"font-weight: 400;\">Litecoin [LTC]<\/span><span style=\"font-weight: 400;\"> mining industry has been growing for quite some time now, registering new all-time highs. A possible reason for this could be the increment in LTC\u2019s market cap as it lured miners looking for profits. However, the possibility of things turning sour for Litecoin can\u2019t be ruled out considering the current market trend.<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Read<\/span><a href=\"http:\/\/ambcrypto.com\/predictions\/litecoin-price-prediction\" target=\"_blank\" rel=\"noopener\"> <span style=\"font-weight: 400;\">Litecoin\u2019s [LTC] Price Prediction<\/span><\/a><span style=\"font-weight: 400;\"> 2023-24<\/span><\/p>\n<hr \/>\n<h4><strong>Litecoin mining is becoming popular<\/strong><\/h4>\n<p><span style=\"font-weight: 400;\">Litecoin Foundation revealed in a 27 June <\/span><a href=\"https:\/\/twitter.com\/LTCFoundation\/status\/1673738599135858688?s=20\" target=\"_blank\" rel=\"noopener\"> <span style=\"font-weight: 400;\">tweet<\/span><\/a><span style=\"font-weight: 400;\"> that the blockchain\u2019s hashrate reached a new all-time high of 957.22 TH\/s. As per the tweet, this update was a direct illustration of the steady, healthy, and maturing growth of the LTC network and Litecoin&#8217;s network security. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">An increase in hashrate means that more miners are entering the LTC mining space.\u00a0<\/span><span style=\"font-weight: 400;\">It was interesting to note that while the hashrate climbed, miner fees also registered an uptick.\u00a0<\/span><\/p>\n<figure id=\"attachment_323552\" aria-describedby=\"caption-attachment-323552\" style=\"width: 1800px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_litecoin-total-transaction-fees-ltc-2.png\"><img decoding=\"async\" class=\"wp-image-323552 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_litecoin-total-transaction-fees-ltc-2.png\" alt=\"\" width=\"1800\" height=\"1013\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_litecoin-total-transaction-fees-ltc-2.png 1800w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_litecoin-total-transaction-fees-ltc-2-300x169.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_litecoin-total-transaction-fees-ltc-2-1024x576.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_litecoin-total-transaction-fees-ltc-2-768x432.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_litecoin-total-transaction-fees-ltc-2-1536x864.png 1536w\" sizes=\"(max-width: 1800px) 100vw, 1800px\" \/><\/a><figcaption id=\"caption-attachment-323552\" class=\"wp-caption-text\">Source: Glassnode<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">However, things have started to change as LTC\u2019s hashrate declined in the last 24 hours. As per<\/span><a href=\"https:\/\/www.coinwarz.com\/mining\/litecoin\/hashrate-chart#:~:text=The%20current%20Litecoin%20hashrate%20is,all%20time%20Litecoin%20historical%20hashrates.\" target=\"_blank\" rel=\"noopener\"> <span style=\"font-weight: 400;\">Coinwarz<\/span><\/a><span style=\"font-weight: 400;\">, at the time of writing, LTC\u2019s hashrate stood at 770.81 TH\/s.\u00a0<\/span><\/p>\n<h4><strong>LTC witnesses a price correction<\/strong><\/h4>\n<p><span style=\"font-weight: 400;\">After a comfortable week of over 6% gains, the scenario changed as<\/span><a href=\"http:\/\/ambcrypto.com\/litecoin-bulls-sail-past-80-more-gains-ahead\/\" target=\"_blank\" rel=\"noopener\"> <span style=\"font-weight: 400;\">LTC<\/span><\/a><span style=\"font-weight: 400;\">\u2019s price dropped. According to<\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/litecoin\/\" target=\"_blank\" rel=\"noopener\"> <span style=\"font-weight: 400;\">CoinMarketCap<\/span><\/a><span style=\"font-weight: 400;\">, LTC\u2019s price declined by more than 1% in the last 24 hours. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">At press time, it was trading at $87.04 with a market cap of over $6.2 billion.\u00a0 A decline in price can have a negative impact on the mining industry, as miners might choose to exit as their profits reduce.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Litecoin\u2019s one-week price volatility plummeted and this decreased the chances of a sudden uptrend. Its volume also declined, reflecting a lower willingness of investors to trade the coin. Another bearish signal was its declining velocity, which meant that<\/span><a href=\"http:\/\/ambcrypto.com\/litecoin-does-security-status-prove-silver-to-btcs-gold-tag\/\" target=\"_blank\" rel=\"noopener\"> <span style=\"font-weight: 400;\">LTC<\/span><\/a><span style=\"font-weight: 400;\"> was used less often within a set time frame.<\/span><\/p>\n<figure id=\"attachment_323553\" aria-describedby=\"caption-attachment-323553\" style=\"width: 3840px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Litecoin-LTC-11.08.10-28-Jun-2023.png\"><img decoding=\"async\" class=\"wp-image-323553 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Litecoin-LTC-11.08.10-28-Jun-2023.png\" alt=\"\" width=\"3840\" height=\"1300\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Litecoin-LTC-11.08.10-28-Jun-2023.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Litecoin-LTC-11.08.10-28-Jun-2023-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Litecoin-LTC-11.08.10-28-Jun-2023-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Litecoin-LTC-11.08.10-28-Jun-2023-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Litecoin-LTC-11.08.10-28-Jun-2023-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Litecoin-LTC-11.08.10-28-Jun-2023-2048x693.png 2048w\" sizes=\"(max-width: 3840px) 100vw, 3840px\" \/><\/a><figcaption id=\"caption-attachment-323553\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<hr \/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Realistic or not, here&#8217;s<\/span><a href=\"http:\/\/ambcrypto.com\/calculator\/marketcap\" target=\"_blank\" rel=\"noopener\"> <span style=\"font-weight: 400;\">LTC&#8217;s market cap in BTC<\/span><\/a><span style=\"font-weight: 400;\">\u00a0terms<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">While the metrics were bearish, a few of the market indicators supported the bulls. For instance, the distance between the 20-day Exponential Moving Average (EMA) and the 55-day EMA was declining, increasing the chances of a bullish crossover. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Additionally, Litecoin\u2019s MACD displayed a bullish upper hand in the market. Nonetheless, its Money Flow Index (MFI) was right near the overbought zone, which could raise selling pressure in the coming days.<\/span><\/p>\n<figure id=\"attachment_323554\" aria-describedby=\"caption-attachment-323554\" style=\"width: 1815px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/LTCUSDT_2023-06-28_11-10-45.png\"><img decoding=\"async\" class=\"wp-image-323554 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/LTCUSDT_2023-06-28_11-10-45.png\" alt=\"\" width=\"1815\" height=\"778\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/LTCUSDT_2023-06-28_11-10-45.png 1815w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/LTCUSDT_2023-06-28_11-10-45-300x129.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/LTCUSDT_2023-06-28_11-10-45-1024x439.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/LTCUSDT_2023-06-28_11-10-45-768x329.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/LTCUSDT_2023-06-28_11-10-45-1536x658.png 1536w\" sizes=\"(max-width: 1815px) 100vw, 1815px\" \/><\/a><figcaption id=\"caption-attachment-323554\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Litecoin Foundation revealed that the blockchain\u2019s hashrate has reached a new all-time high.<\/p>\n","protected":false},"author":75,"featured_media":323555,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,4,20],"tags":[70,5302,62],"class_list":["post-323551","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-social","category-trading-view","tag-litecoin","tag-litecoin-miners","tag-ltc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - 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