Litecoin Sets New Open Interest Record Worth $761,000,000, LTC To $120?
The post Litecoin Sets New Open Interest Record Worth $761,000,000, LTC To $120? appeared on BitcoinEthereumNews.com.
Key Insights Litecoin has set a new record in open interest, reaching $761 Million. The number of LTC addresses that are in profit has now exceeded those at a loss and break-even points. Favorable sentiments remain that could push the LTC price to a new all-time high. Litecoin (LTC) is gradually gaining momentum after months of consolidation. Litecoin has set a new record in Open Interest (OI), which climbed to $761 Million in 24 hours. The LTC price also showed a bullish outlook, overcoming key resistance levels. With a market cap of $7.6 Billion, Litecoin is now the 21st-largest cryptocurrency. Market participants, including analysts, anticipate that LTC will see higher prices this cycle, potentially reaching the $120 mark. The Litecoin Open Interest Outlook According to data from CoinGlass, Litecoin’s open interest has increased by 6.7% over the past 24 hours to $761 Million. Based on the current price, Litecoin investors committed 7.63 million LTC to the futures open interest. This move suggests increasing confidence in the future price trajectory of LTC. Essentially, open interest represents the number of contracts that have not been settled. When OI rises, it indicates more traders are entering the market and opening new positions. Generally, higher open interest indicates increased market liquidity, as there are more contracts available for trading. This can reflect growing interest or speculation in the asset. For Litecoin, the open interest increased in tandem with soaring prices. Within the past day, LTC has rallied 4.53%, with the price oscillating around $103.9 at press time. Rising open interest, alongside increasing prices, often signals intense buying pressure and confidence in the upward trend. As new long positions are created, traders anticipate the price to climb higher. Notably, LTC has crossed $101 and $102. These levels are critical as they could trigger a breakout…
Filed under: News - @ July 18, 2025 11:25 pm