Litecoin to shed recent gains as sell-offs intensify

Litecoin to shed recent gains as sell-offs intensify

August 22, 2023

By Abiodun Oladokun

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Litecoin’s price increased by almost 5% in the past 24 hours.

However, price movements on a daily chart revealed non-stop coin distribution.

As the market recovers from the aftermath of last week’s liquidity exit, Litecoin [LTC] ranks as one of the assets with the most gains in the last 24 hours, on-chain data provider Santiment noted in a tweet.

According to CoinMarketCap, the coin has gained over 3% in the past 24 hours, exchanging hands at around $66 per coin.

Santiment noted that the general market slump might linger in the new week, with the market value to realized value ratio of most assets suggesting that holders have continued to sell at a loss.

Despite the slight uptick in the last 24 hours, LTC’s set up on a daily chart revealed that the coin might shed these gains in the coming days.