Today’s LTC Value: Shares of Litecoin (LTC) closed the trading at a price of 1 LTC/USD $87.33 with the positive/negative change of 1.95%. In the past session approximately 24 Hour Trading Volume $1.19 Billion shares were exchanged against the 24 Hour Average Price (VWAP) of $85.5008 shares. LTC touched to the maximum level of $84.55000000, and it reached the lower level of $88.92500000 in past session. The (LTC) Coin Market Cap has now valued at $5.36 Billion. The last perevious price closed at 85.580 and the open price was stated at 85.462. LTC Volume Weighted Moving Average (20) 72.199.
The former partner at Goldman Sachs and the CEO and founder of the Galaxy Digital merchant bank have spoken out against the popular digital currency, Litecoin. Gold has an $8.5 trillion dollar market cap. Silver is $15bn That is .17 percent. $BTC has a $90bn Market cap. $LTC is $5.7bn which is 6.4 percent of $BTC. Silver is at least useful for industrial production. $ltc is a glorified test net for $btc. I don’t get this rally. Sell $ltc buy $btc. (Michael Novogratz (@novogratz) 3 April 2019)
“Since silver’s market cap is 0.17 percent of gold’s market cap, it does not make much sense that Litecoin’s market cap ($5.5B at the time) is 6.4% of Bitcoin’s market cap ($90B at the time). Novogratz feels that since Litecoin is just a “glorified test net” for Bitcoin, such a high valuation is not deserved, and that’s why he is confounded by Litecoin’s strong price rally (over the past several weeks), which started on February 8. That’s why he is recommending selling Litecoin and buying Bitcoin.”
Rating Scale; (17) rating signify Buy, (04) rating score shows Sell and (07) displays Neutral signal.
The crypto stock has its 20-day Simple Moving Average of $65.637 and $57.232 as its 50-day Simple Moving Average while Bull Bear Power of 31.364. Relative Strength Index (RSI) was 84.501.
Litecoin is a blockchain-based cryptocurrency that works in a similar way to Ethereum and bitcoin. It’s a peer-to-peer internet currency that allows for instant, near-zero cost payments to anyone in the world. It’s a decentralized payment network that isn’t managed by any central authorities.