With less than two weeks until Litecoin’s halving, traders are wondering whether the additional scarcity effect will be enough to sustain the LTC price above $90.
, when the miner’s block subsidy will be cut in half, traders are questioning whether the additional scarcity effect will be enough to sustain the LTC price above $90.
Litecoin futures’ aggregate open interest in dollars from June 29 to July 2 shows there was a significant surge, indicating increased demand for leveraged futures contracts. Further confirming the relevance of open interest, two other instances occurred in 2021 between February and June, marking significant drawdowns after breaking the futures open interest $500 million threshold.Litecoin/USD 1-day price at Coinbase, early 2021. Source: TradingViewOn Feb. 8, 2021, Litecoin’s open interest surged above $500 million, marking a 64% price gain, which peaked at $247 on Feb. 20, 2021.
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