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Litecoin {LTC} drops post-halving event leaving HODLers are disappointed; Monarch

Bitcoin

Litecoin is ranked at #5 on coinmarketcap, below Bitcoin Cash. The price of LTC stands at $92.22 presently, and the halving took place on 5th August. From henceforth, the block rewards for miners is 12.5 LTC. The trading volume recorded is $3.044 billion, while the supply has 62,986,993 LTC tokens circulating as of this moment. The total market cap of Litecoin is $5.808 billion, and the decline rate is 5.80%.

Monarch, a firm which tends to operating a crypto wallet amongst a list of other services, have implemented support for Litecoin {LTC} and Stellar {XLM}. The app functions on iOS devices, Androids, and also on Windows and Mac systems. Roger Ver [CEO of Bitcoin.com], Eric Ly[ one of the founders of LinkedIn], David Zimbeck [of BitBay], Damon Nam [of CoinVest] and many more serve as advisors for Monarch.

The President of Monarch, Robert Beadles spoke of how this added support for Stellar Lumens and Litecoin will benefit his company in the long run. He referred to the duo as “well-respected” virtual currencies, which have aided in the growth of adoption just like Bitcoin Cash and few more altcoins. Recently, the organization was able to raise more than $2 million so as to fund future projects related to MonarchPay, the wallet and other solutions.

On 5th, the price had scaled to $107, but this rally was rather short-lived. Support for LTC remains near the $90.4 level. The daily RSI [for 10 periods] sits at 43.67 presently. The Awesome Oscillator peaks are below the zero line, signifying bearish pressure in the market. The MACD line is slightly above the signal line.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.