This Altcoin That Gained 100 Percent Value Against Ethereum Divided From The Market: Here Are The Reasons!

Litecoin (LTC)In November EthereumHe had a great rise against. Litecoin to Ethereum (ETH) gained almost 100% against altcoin it happened.

Litecoin (LTC) Divided From Other Altcoins In November

The emergence of an ascending double bottom pattern crypto trader JK identified by and experienced investor Peter Brandt Approved by

The double bottom pattern is a classic chart pattern that shows a major change in trend after a previous bearish move.

Famous trader Peter Brandt also confirmed the formation detected by the user with his post on Twitter, thanking him saying it’s always great to see the correct interpretation of classical chart formations.

Always great to see the correct interpretation of classical chart patterns. Thanks JK https://t.co/RQUnvn2BHM

— Peter Brandt (@PeterLBrandt) November 27, 2022

Litecoin (LTC) Is Doing Well Unlike Other Cryptocurrencies, Here’s Why

On-chain analytics firm Santiment reported that the LTC price increase coincided with a significant increase in wallets holding 1,000 or more LTC coins since May 22.

According to information shared by both the Litecoin Foundation and the Litecoin official Twitter address, the next Litecoin halving is estimated to occur in the next 250 days. Just like in Bitcoin, Litecoin, which is called digital silver, is known to experience serious increases before and after the halving.

Litecoin, like Bitcoin, has a fixed supply of 84 million coins and uses a mining proof-of-work (PoW) algorithm to secure its network.

Simply put, a Litecoin halving means that the rewards to miners will be halved.

Prize amount currently 12.5 LTCis . However, this amount will be halved after the upcoming halving event. 6.25 LTCwill be reduced to . This trend 2124 It is expected to continue until next year.

In positive news, the Litecoin network has completed its 135,000,000th transaction, which it describes as “over 11 years of uninterrupted, immutable, uncensored, flawless uptime.”

*Not investment advice.