Litecoin Price Prediction as LTC Blasts Up 22% in a Week – Can LTC Reach $1,000?
Litecoin (LTC), the cryptocurrency that powers the decentralized payments-focused Litecoin blockchain, is consolidating just under $110 after hitting its highest level in over a year earlier in the session at $113.61.
As per crypto price data website CoinGecko, LTC is up an impressive 22% in the last seven days, making it the eighth best-performing cryptocurrency in the top 100 by market cap over this period.
Despite having now rebounded more than 50% from June’s lows close to $70 per token, Litecoin price predictions remain bullish.
Litecoin was recently listed on one of the hottest new US cryptocurrency exchanges EDX Markets.
EDX Markets, which only just launched, is backed by a number of major financial institutions, including Fidelity, Charles Schwab and Citidel.
Observers expect that the exchange, which only lists four cryptocurrencies at the moment, will be looked on more favorably by regulators than others like Coinbase and Binance, both of which were recently sued by the SEC.
That helps add legitimacy to the cryptocurrencies, like Litecoin, that trade on this exchange and could help propel their institutional adoption.
This, coupled with the bullish trend in bitcoin, could be an ongoing tailwind for Litecoin.
Meanwhile, investors are also getting excited about another potentially bullish upcoming catalyst for Litecoin – its upcoming halving.
In just over 30 days, the block reward for miners will be halved from 12.5 LTC to 6.25 LTC, essentially halving Litecoin’s inflation rate.
Anticipation ahead of this event is evident in surging on-chain activity on the Litecoin blockchain, which processed 1 million transactions in the week up to the 29th of June.
“Litecoin looks great” said popular crypto analyst Michael van de Poppe in
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