The Litecoin price seems adhered to the $90 mark, witnessing little movement in the last 24 hours. The anticipation around its latest halving event is increasing. The event, which is due today, will cut Litecoin’s block reward from 12.5 LTC to 6.25 LTC, theoretically increasing its scarcity over the long term by curbing supply. But is the market as keen? With a mere 0.5% increase in the past week and a notable 19% decline in the last 30-day span, the market sentiment towards this 50% reduction is a tad murky.
While Litecoin’s recent performance evokes disappointment, the indicators now suggest it could soon make an upward shift, with a recovery imminent. However, it seems the altcoin market is already in sync with the halving event, a sentiment conjectured from the Sunday rally and the strong rally at June’s end. Drawing from this may lead some to conclude that this event is a classic case of ‘buy the rumor, sell the news,’ a prevalent trend in the cryptocurrency market.
Observers wouldn’t be taken aback if the Litecoin price sees a small decline due to failed expectations. But look beyond today. Over the upcoming weeks, Litecoin could make a healthy recovery to reach the $100 figure, with a favorable year-end pushing it further to $150.
The slight uncertainty around Litecoin has directed some investors towards other altcoins presenting opportunities for better gains in near future. Take ‘Wall Street Memes’ (WSM) for example, an ERC-20 token that managed to accumulate over $20 million since its presale in June. Born from the meme stocks movement that fueled the 2021 GameStop rally, WSM has managed to attract a community of 255,000 followers on Twitter—a community that is likely to support the token once it is listed on exchanges.
WSM, with its maximum total supply of 2 billion—of which 50% is designated for sale and 30% saved for community rewards—poses as a highly decentralized token. Aspiring investors can join the sale on the official Wall Street Memes website and sync their crypto wallets, with 1 WSM currently priced at $0.0328. The presale will close at the rate of $0.0337 per WSM, yet it could comfortably crush this level once listed on different trading platforms.
Remember though, crypto streaming with high risks and the potential for significant losses. This article aims to inform, not advise, on investments. Always venture wisely and cautiously.
Source: Cryptonews
