- $6 billion will move to Litecoin, Bitcoin, and Ethereum
- Investors trust the more relevant tokens like LTC, BTC, and Ether.
- Bitcoin’s halving could pull up Litecoin and other top coins.
Litecoin news today – The digital asset market has been trending for being in the green zone in recent days. The asset class has enjoyed an extended period of growth. Coins like Litecoin, Ethereum, and Cardano to mention a few have enjoyed their best periods since the new year began. Now, one crypto analyst, Mati Greenspan, has analyzed data on investor activity in the asset class and concluded that no less than $6 billion have been placed in stablecoins. The crypto commentator came up with a theory to prove his submission. He explained that the bulk of investors are now preparing to move the sum of $6 billion to Litecoin, Ethereum, and Bitcoin among a host of Altcoins.
Litecoin (LTC) Price Today – LTC / USD
Investors Have Invested Their Money in Stablecoins for Protection Against the Bears
Litecoin News Today – According to Greenspan, these investors have decided to move their capital into stablecoins because they believe it will protect them from a repeat of the bearish market that occurred in the last quarter of last year. Here is how Greenspan put the topic via his Twitter page:
“About $6 billion worth of digital assets/stablecoins ready to move into altcoins at a moment’s notice.”
Nearly $6 billion worth of stable coins ready to move into bitcoin and the alts at a moments notice. pic.twitter.com/ISvWMSZ5DQ
— Mati Greenspan [tweets are not trading advice] (@MatiGreenspan) January 30, 2020
Greenspan claims that the bulk of investors trust top coins like Bitcoin, Ethereum and Litecoin, etc. Hence the coins mentioned here will get the bulk of the funds. Hence, we shouldn’t be surprised at Litecoin been mentioned as getting more demand due to growing investor interest. The coin’s recent action is enough reason as we move far away from last year’s bear season.
How will Bitcoin Halving Affect Litecoin and the Rest of the Market?
In other reports, if we put the broader results of the market in line with their respective market caps, the overall usage for each stablecoin is actually in line with their rank in the market. The crypto market has been bullish throughout 2020 so far. Of course, no one wants this to end. Experts expect that in the coming months, a unique situation could trigger more gains for Litecoin and other major altcoins. Which will see new capital flow into the crypto market. Experts have cited one of such events to trigger this as Bitcoin’s Halving. The event that has been set for May this year is expected to drive a new bull run for Litecoin and the rest of the digital asset market.