The post LTC Enters a Crucial State Amid Litecoin Utility Improvement Plans appeared on BitcoinEthereumNews.com. LTC has dropped below a 7-year trendline on theThe post LTC Enters a Crucial State Amid Litecoin Utility Improvement Plans appeared on BitcoinEthereumNews.com. LTC has dropped below a 7-year trendline on the

LTC Enters a Crucial State Amid Litecoin Utility Improvement Plans

  • LTC has dropped below a 7-year trendline on the monthly chart.
  • Charlie Lee plans to improve Litecoin’s utility capabilities.
  • Litecoin’s development team is working to improve its privacy features.

Litecoin (LTC) is currently trading below a significant support level, raising concerns among a section of the cryptocurrency community over the digital asset’s future. 

LTC’s 7-Year Trendline is Under Threat

A cryptocurrency analyst on X highlighted Litecoin’s price action in his latest post, revealing that the cryptocurrency has dropped below a trendline it has held for 7 years on the monthly chart.

Although the identified price behavior is of significant interest to Litecoin users, it is crucial to note that the current monthly candle has not closed. Based on this situation, it may be too early to conclude whether Litecoin’s long-term uptrend has come under significant threat, considering the cryptocurrency has tested this trendline several times without closing below it.

Litecoin Developer Has Other Plans for the Cryptocurrency

Amid the current crypto market conditions, Litecoin creator Charlie Lee outlined his plans for Litecoin, stating that his next agenda for the cryptocurrency focuses on utility. In an interview with David Lin, Lee noted that he wants Litecoin to be a usable entity, not just an asset that is held in custody.

According to Lee, Litecoin is already serving more utility purposes than Bitcoin. He noted that people are actually spending the cryptocurrency and using it to buy stuff. In the meantime, he highlighted the digital asset’s privacy features, noting that this is something the Litecoin development team has been working on, particularly with the MWEB layer, an optional privacy and scalability layer added to the Litecoin blockchain in 2022. This layer allows users to conduct confidential transactions by hiding amounts and addresses.

The Altcoin Season is Yet to Come

In the meantime, Lee stated that the altcoin season has not come yet. According to him, most crypto users are still trying to determine which direction the crypto market will take, whether it will return to its previous high or drop lower. According to him, the market is currently in an intermediate state.

Related Articles: Litecoin Price Prediction 2026: LitVM Smart Contracts & ETF Launch Battle Bitcoin Dominance

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Source: https://coinedition.com/ltc-enters-a-crucial-state-amid-litecoin-utility-improvement-plans/

Market Opportunity
Litecoin Logo
Litecoin Price(LTC)
$68.35
$68.35$68.35
-0.46%
USD
Litecoin (LTC) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

The Surprising 2025 Decline In Online Interest Despite Market Turmoil

The Surprising 2025 Decline In Online Interest Despite Market Turmoil

The post The Surprising 2025 Decline In Online Interest Despite Market Turmoil appeared on BitcoinEthereumNews.com. Bitcoin Searches Plunge: The Surprising 2025
Share
BitcoinEthereumNews2026/01/21 14:56
Cryptos Signal Divergence Ahead of Fed Rate Decision

Cryptos Signal Divergence Ahead of Fed Rate Decision

The post Cryptos Signal Divergence Ahead of Fed Rate Decision appeared on BitcoinEthereumNews.com. Crypto assets send conflicting signals ahead of the Federal Reserve’s September rate decision. On-chain data reveals a clear decrease in Bitcoin and Ethereum flowing into centralized exchanges, but a sharp increase in altcoin inflows. The findings come from a Tuesday report by CryptoQuant, an on-chain data platform. The firm’s data shows a stark divergence in coin volume, which has been observed in movements onto centralized exchanges over the past few weeks. Bitcoin and Ethereum Inflows Drop to Multi-Month Lows Sponsored Sponsored Bitcoin has seen a dramatic drop in exchange inflows, with the 7-day moving average plummeting to 25,000 BTC, its lowest level in over a year. The average deposit per transaction has fallen to 0.57 BTC as of September. This suggests that smaller retail investors, rather than large-scale whales, are responsible for the recent cash-outs. Ethereum is showing a similar trend, with its daily exchange inflows decreasing to a two-month low. CryptoQuant reported that the 7-day moving average for ETH deposits on exchanges is around 783,000 ETH, the lowest in two months. Other Altcoins See Renewed Selling Pressure In contrast, other altcoin deposit activity on exchanges has surged. The number of altcoin deposit transactions on centralized exchanges was quite steady in May and June of this year, maintaining a 7-day moving average of about 20,000 to 30,000. Recently, however, that figure has jumped to 55,000 transactions. Altcoins: Exchange Inflow Transaction Count. Source: CryptoQuant CryptoQuant projects that altcoins, given their increased inflow activity, could face relatively higher selling pressure compared to BTC and ETH. Meanwhile, the balance of stablecoins on exchanges—a key indicator of potential buying pressure—has increased significantly. The report notes that the exchange USDT balance, around $273 million in April, grew to $379 million by August 31, marking a new yearly high. CryptoQuant interprets this surge as a reflection of…
Share
BitcoinEthereumNews2025/09/18 01:01
Strategy Makes Biggest Bitcoin Bet In Months With $2.13B Buy

Strategy Makes Biggest Bitcoin Bet In Months With $2.13B Buy

The post Strategy Makes Biggest Bitcoin Bet In Months With $2.13B Buy appeared on BitcoinEthereumNews.com. Strategy Makes Biggest Bitcoin Bet In Months
Share
BitcoinEthereumNews2026/01/21 15:07