Litecoin market cap grows by $1B as price reaches $119.64
On-chain metrics show significant profit-taking by long-term holders
Technical analysis suggests continued upward momentum despite selling
Litecoin has demonstrated remarkable strength in the cryptocurrency market, with its market capitalization expanding by $1 billion over the past week.
This 15% growth has pushed the price to a significant milestone of $119.64, a level not witnessed in two years. This price action has created an interesting dynamic between long-term holder behavior and ongoing market momentum.
Story Behind Long-Term Litecoin Holder Activity
The Liveliness metric, a sophisticated on-chain indicator, has reached a year-to-date high of 0.71, marking a significant shift from its November 1 low of 0.69. This LTC metric serves as a window into long-term holder behavior, measuring the proportion of coins in circulation that have recently moved.
Source: Glassnode
The current elevated reading suggests tha
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