This website uses cookies to ensure you get the best experience on our website


25th Mar 2021
Dalmas Ngetich, for CryptoAltum News Team

Grayscale Buys 24k LTC, is Litecoin Undervalued?

Grayscale Investment, a regulated firm in the United States facilitating institutional exposure to crypto, on Mar 24, bought 24k LTC for their clients, according to Bybt. On the other hand, analysts are confident the coin has more upsides and could race higher, correcting the current undervaluation. The purchase from Grayscale, adding over 35k on the last day alone, reflects investor sentiment and confidence in Litecoin that, like Bitcoin, has been charting higher on increasing utility.


The Litecoin price is steady but bullish, tracking Bitcoin's price that's already higher after Tesla's announcement. Although gains in Litecoin are small, demand from institutions could prop bulls. They are banking on the project's wave of adoption—thanks to its relatively low transaction costs and privacy development, even aiding propel the coin to new 2021 highs.

Impact on the Litecoin Price: 

Bullish. From statistics, Grayscale institutional investors are stacking up more Litecoin, adding over 35k LTC on the last day alone. Furthermore, a blend of fundamental and technical factors align to support LTC bulls aiming for a recovery above $250.

More market news over on our Blog

Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.

This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.

CryptoAltum does not accept any clients under the age of 18. 
  • Copyright Techcraft Ltd (CryptoAltum) 2020