The price of Litecoin experienced an 8% growth on March 20, jumping from $77 to $86 in just 24 hours. A unique trend in network transactions suggests that Litecoin (LTC) could potentially reach $100 in the coming days. This surge in price can be attributed to a recent announcement by Coinbase regarding listing futures contracts for Dogecoin (DOGE), Litecoin, and Bitcoin Cash (BCH).

Coinbase’s filing with the Commodity Futures Trading Commission (CFTC) indicates a kick-off date of April 1 for these pairings. Investors have responded positively to this news, anticipating increased capital inflows and broader adoption of LTC.

Following the Coinbase futures listing announcement, LTC price rose by 13.5% to $86 within 24 hours, adding over $800 million to its market cap. Despite a recent period of consolidation, on-chain data reveals a notable increase in large transactions on the network.

The average transaction size on the LTC network has seen a significant uptick, growing by 768% in the last 60 trading days. This surge in transaction size signals increased investor confidence and activity within the LTC markets, potentially attracting institutional traders and high-net-worth investors.

Strategic investors may view Litecoin as undervalued and could further drive capital inflows, potentially pushing LTC price above $100 in the near future. However, there might be resistance around the $90 mark, with bears facing liquidation if prices exceed $89.90.

Despite potential resistance, continued growth in transaction size could provide the momentum needed for Litecoin to surpass $100. In the event of a market downturn, LTC bulls may consolidate around the $80 support level. Overall, with positive market trends and growing institutional interest, Litecoin appears poised for a bullish breakout in the coming days.

Post Views: 4