On August 30, Litecoin (LTC) maintained a price of approximately $110 after experiencing a nearly 10% decline due to profit-taking and a drop in Bitcoin’s value. Analysts suggest that momentum indicators could signal a potential turnaround in the market. In addition, futures volumes for Litecoin declined by 33.8%, indicating a cautious trading environment. Canadian company Luxxfolio Holdings has also announced plans to raise approximately $73 million CAD by transitioning from Bitcoin mining to focusing on Litecoin.
Meanwhile, Chainlink (LINK) has shown stability despite market volatility, with its price currently at $23.38, supported by a trading volume of around $845 million and a market cap of $15.85 billion. The company has formed a partnership with SBI Holdings to enhance digital asset innovation, which may positively influence investor sentiment.
A new Ethereum Layer 2 token named Layer Brett (LBRETT) is gaining attention for its combination of meme culture and tangible utility. Forecasts suggest that LBRETT could achieve significant price increases by 2025, with projections estimating its value could reach between $0.5 and $1.
- Why it matters:
- Investors may explore alternative cryptocurrencies as established options face limitations.
- Market shifts could influence the strategy of companies transitioning into different crypto assets.
- The latest:
- Luxxfolio Holdings is shifting focus to Litecoin operations and aims to raise funds through a new shelf prospectus.
Source: https://coincentral.com/litecoin-and-chainlink-prices-cool-off-since-emergence-of-viral-eth-l2-token-tipped-for-16000-gains/
Source: https://coincentral.com/litecoin-and-chainlink-prices-cool-off-since-emergence-of-viral-eth-l2-token-tipped-for-16000-gains/