This Bitcoin Offshoot Could Turn Bullish Again Despite Continued Losses, Says Analytics Firm: 'Small Fish Impatiently Jumping Ship Is Often A Turnaround Sign'
This Bitcoin Offshoot Could Turn Bullish Again Despite Continued Losses, Says Analytics Firm: 'Small Fish Impatiently Jumping Ship Is Often A Turnaround Sign'
Litecoin (CRYPTO: LTC) has witnessed an extended downturn in recent weeks, but a prominent cryptocurrency analytics firm anticipated the sentiment to turn bullish for the Bitcoin (CRYPTO: BTC)-inspired token.
萊特幣(CRYPTO: LTC)近幾周經歷了持續的下跌,但一家知名的加密貨幣分析公司預計,受比特幣(CRYPTO: BTC)啓發的代幣的情緒將轉爲看好。
What Happened: According to an X post on Monday, Santiment noted a substantial 36% decline in Litecoin's market value from its April peak. Surprisingly, small traders, or wallets holding between 0.1 and 1 LTC, continued to increase during this time.
具體情況如下:根據週一的一篇帖子,Santiment指出,萊特幣的市值從4月份的峯值下降了36%。令人驚訝的是,在此期間,持有0.1到1個LTC的小型交易者或錢包繼續增加。
However, in a dramatic development, the total number of wallets in the aforementioned cohort plunged by 45,200, indicating that small traders were finally capitulating on the proof-of-work cryptocurrency.
然而,戲劇性的是,上述群體中的錢包總數下降了45,200個,表明小型交易者最終對這種工作量證明的加密貨幣失去了信心。
"Small fish impatiently 'jumping ship' is often a turnaround sign for an asset to begin turning bullish once again," Santiment added.
Santiment補充道:「小魚急於'離船'通常是一個資產再次開始看好的轉折跡象。」
Why It Matters: Forked out of Bitcoin, Litecoin was one of the earliest altcoins on the market, and is often dubbed "the silver to Bitcoin's gold."
爲什麼這很重要:作爲比特幣的分叉,萊特幣是市場上最早的替代幣之一,通常被稱爲「比特幣的白銀」。
Aside from Bitcoin, Litecoin is one of the few cryptocurrencies that have evaded a "security" probe by U.S. regulators. It's also the most used cryptocurrency for payments, according to the world's largest crypto payment service provider, BitPay.
除了比特幣外,萊特幣是少數幾種避免受到美國監管機構「安全性」審查的加密貨幣之一。根據全球最大的加密貨幣支付服務提供商BitPay的數據,它也是最常用於支付的加密貨幣。
However, these fundamental advantages have failed to significantly boost the cryptocurrency's market valuation. As of this writing, Litecoin was one of the few billion-dollar capitalization tokens with year-to-date losses, totaling 13%.
然而,這些基本優勢未能顯著推動加密貨幣的市場估值。截至目前,萊特幣是少數市值十億美元的代幣之一,今年累計虧損達到13%。
In contrast, Bitcoin has surged 48%, while Ethereum (CRYPTO: ETH) and Solana (CRYPTO: SOL) have grown 17% and 54%, respectively.
相比之下,比特幣上漲了48%,而以太幣(CRYPTO: ETH)和solana(CRYPTO: SOL)分別增長了17%和54%。
Despite the current market downturn, Santiment's analysis suggests that Litecoin could be on the verge of a turnaround. This could be a crucial development for investors and traders to watch in the coming weeks.
儘管目前市場低迷,但Santiment的分析表明,萊特幣可能處於轉機的邊緣。這對投資者和交易者來說可能是一個關鍵的發展,值得在未來幾周觀察。
Price Action: Litecoin was exchanging hands at $80.97 at the time of publication, falling marginally by 0.19% in the last 24 hours, according to data from Benzinga Pro.
價格波動:根據Benzinga Pro的數據,萊特幣在出版時以80.97美元交易,過去24小時略有下跌,下跌0.19%。
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Photo courtesy: Shutterstock
圖片來源:shutterstock