{"id":377071,"date":"2019-04-03T19:00:40","date_gmt":"2019-04-03T19:00:40","guid":{"rendered":"https:\/\/wncen.com\/?p=377071"},"modified":"2024-06-11T21:14:38","modified_gmt":"2024-06-11T21:14:38","slug":"is-litecoin-ltc-up-because-of-fomo-adds-2-7-billion-in-18-hours","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/is-litecoin-ltc-up-because-of-fomo-adds-2-7-billion-in-18-hours\/","title":{"rendered":"Is Litecoin (LTC) Up Because of FOMO? Adds $2.7 Billion in 18 Hours"},"content":{"rendered":"<ul>\n<li><em>Litecoin gains impressive, up 47 percent<\/em><\/li>\n<li><em>Losses from CoinBase\u2019s hot wallet insured by a $255 million cover<\/em><\/li>\n<\/ul>\n<p><em>As one of the most secure exchange, CoinBase is not taking chances. Their chief information security officer now reveals that the exchange\u2019s hot wallet insurance policy covers $255 million just in case of losses. That has been the state since late 2013. In the meantime, Litecoin (LTC) is up 47 percent, and buyers are aiming at $90.<\/em><\/p>\n<h2>Litecoin Price Analysis<\/h2>\n<h3>Fundamentals<\/h3>\n<p>CoinBase, the US exchange valued at over $8 billion is unique because it is hacker\u2014proof\u2014no recorded breach since launch. They assure clients that their priority is security \u201c<em>for Your Peace of Mind<\/em>.\u201d To that end, the team tasked with storing user assets has \u201c<em>98 percent of customer funds in cold wallets<\/em>.\u201d\u00a0 Additionally, CoinBase \u201c<em>distribute Bitcoin drives and paper backups geographically in safe deposit boxes and vaults around the world.<\/em>\u201d<\/p>\n<p>According to Philip Martin, the chief information security officer at CoinBase, the exchange has taken upon themselves to <a href=\"https:\/\/support.coinbase.com\/customer\/portal\/articles\/1662379-how-is-coinbase-insured-\" rel=\"nofollow\">insure their hot wallets<\/a>. The plan which CoinBase has been subscribing to since Nov 2013 after purchasing it from Lloyd\u2019s of London covers up-to $255 million just in case there is an unfortunate hack:<\/p>\n<blockquote><p><em>\u201cWe currently hold a hot wallet policy with a $255 million limit placed by Lloyd\u2019s registered broker Aon and sourced from a global group of US and UK insurance companies, including certain Lloyd\u2019s of London syndicates. The rationale has remained the same the entire time: if the worst happens and CoinBase loses customer funds, customers deserve certainty that they will be made whole. Data is clear that today, the most likely consumer loss scenario for any cryptocurrency company is hot wallet loss due to hacking.\u201d<\/em><\/p><\/blockquote>\n<h3>Candlestick Arrangement<\/h3>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-377061\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/Litecoin-Weekly-Chart-Apr-3.png?resize=1280%2C1024\" alt=\"Litecoin\" width=\"1280\" height=\"1024\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/Litecoin-Weekly-Chart-Apr-3.png?w=1280 1280w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/Litecoin-Weekly-Chart-Apr-3.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/Litecoin-Weekly-Chart-Apr-3.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/Litecoin-Weekly-Chart-Apr-3.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/Litecoin-Weekly-Chart-Apr-3.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/Litecoin-Weekly-Chart-Apr-3.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/p>\n<p>At fifth, <a href=\"https:\/\/wncen.com\/2019\/03\/28\/temporary-sell-off-at-62-will-litecoin-ltc-bulls-prevail\/\" target=\"_blank\" rel=\"noopener noreferrer \">Litecoin (LTC)<\/a> has a market cap of $5,293million, adding 47 percent in the last week. Aside from the magnifier effect of Bitcoin, fundamental factors are fueling this rally. Note that LTC surges began after MimbleWimble announcement. That saw Litecoin increase in the first week of February and what we have now is a buildup of previous buy momentum.<\/p>\n<p>At the moment, Litecoin is trading within a bullish breakout pattern. Because of yesterday\u2019s surge, traders should search for buying opportunities with targets at $90. Regardless, we expect a correction of yesterday\u2019s stretch meaning there is likelihood that LTC may retest $70-$75 before bulls resume their climb to $90.<\/p>\n<h2>Technical Indicators<\/h2>\n<p>Volumes are high and confirming week ending Mar 10\u20141.993 million are this week\u2019s equally high participation level that will likely close above 2 million. Because of our skew, there is the option of entering in the 4HR chart, and with every volume spike driving prices higher, savvy traders should capitalize as they trade as above.<\/p>\n<p><strong><em>Chart courtesy of Trading View<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Litecoin gains impressive, up 47 percent Losses from CoinBase\u2019s hot wallet insured by a $255 million cover As one of the most secure exchange, CoinBase is not taking chances. Their chief information security officer now reveals that the exchange\u2019s hot wallet insurance policy covers $255 million just in case of losses. That has been the state since late 2013. In the meantime, Litecoin (LTC) is up 47 percent, and buyers are aiming at $90. Litecoin Price Analysis Fundamentals CoinBase, the US exchange valued at over $8 billion is unique because it is hacker\u2014proof\u2014no recorded breach since launch. They assure clients that their priority is security \u201cfor Your Peace of Mind.\u201d To that end, the team tasked with storing user assets has \u201c98 percent of customer funds in cold wallets.\u201d\u00a0 Additionally, CoinBase \u201cdistribute Bitcoin drives and paper backups geographically in safe deposit boxes and vaults around the world.\u201d According to Philip Martin, the chief information security officer at CoinBase, the exchange has taken upon themselves to insure their hot wallets. The plan which CoinBase has been subscribing to since Nov 2013 after purchasing it from Lloyd\u2019s of London covers up-to $255 million just in case there is an unfortunate hack: \u201cWe currently hold a hot wallet policy with a $255 million limit placed by Lloyd\u2019s registered broker Aon and sourced from a global group of US and UK insurance companies, including certain Lloyd\u2019s of London syndicates. The rationale has remained the same the entire time: if the worst happens and CoinBase loses customer funds, customers deserve certainty that they will be made whole. Data is clear that today, the most likely consumer loss scenario for any cryptocurrency company is hot wallet loss due to hacking.\u201d Candlestick Arrangement At fifth, Litecoin (LTC) has a market cap of $5,293million, adding 47 percent in the last week. Aside from the magnifier effect of Bitcoin, fundamental factors are fueling this rally. Note that LTC surges began after MimbleWimble announcement. That saw Litecoin increase in the first week of February and what we have now is a buildup of previous buy momentum. At the moment, Litecoin is trading within a bullish breakout pattern. Because of yesterday\u2019s surge, traders should search for buying opportunities with targets at $90. Regardless, we expect a correction of yesterday\u2019s stretch meaning there is likelihood that LTC may retest $70-$75 before bulls resume their climb to $90. Technical Indicators Volumes are high and confirming week ending Mar 10\u20141.993 million are this week\u2019s equally high participation level that will likely close above 2 million. Because of our skew, there is the option of entering in the 4HR chart, and with every volume spike driving prices higher, savvy traders should capitalize as they trade as above. Chart courtesy of Trading View<\/p>\n","protected":false},"author":384,"featured_media":347587,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[10,2828],"class_list":["post-377071","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-litecoin","tag-ltc"],"acf":[],"yoast_head":"\n<title>Is Litecoin (LTC) Up Because of FOMO? Adds $2.7 Billion in 18 Hours<\/title>\n<meta name=\"description\" content=\"Litecoin gains impressive, up 47 percent Losses from CoinBase\u2019s hot wallet insured by a $255 million cover As one of the most secure exchange, CoinBase is\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/is-litecoin-ltc-up-because-of-fomo-adds-2-7-billion-in-18-hours\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is Litecoin (LTC) Up Because of FOMO? 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.","sameAs":["https:\/\/www.linkedin.com\/in\/dalmas-ngetich-40a67a147\/","https:\/\/x.com\/Dalmas_Ngetich"],"url":"https:\/\/wncen.com\/author\/dalmasngetich\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Is Litecoin (LTC) Up Because of FOMO? 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