Home Altcoins News $28Bn+ Daily Value Sent Over Litecoin (LTC) Network an Unworthy Fuss over Eclipse

$28Bn+ Daily Value Sent Over Litecoin (LTC) Network an Unworthy Fuss over Eclipse

Litecoin LTC

Litecoin published on May 28, 2021:  Last week Litecoin saw the largest $USD value transfer over its network in its almost 10 year history, totaling $28,105,552,197 or Ł91,083,228, more Litecoin than will ever exist according to data provided by Blockchain. This value eclipses the prior largest day printed on the 21st of December in 2017 which reached an astonishing $11.5bn.

Such a large value which eclipses the entire market cap, is rare, but has occurred before and can be achieved by network participants making numerous large transactions in a single day. For example, an exchange deposit is typically transacted twice once processed accounting for double the original value.

LTC user response to “New ATH – $28Bn+ Daily Value Sent Over Litecoin Network was like: 

Why do we trust centralized projects? BCH also had a lot of full knots, but then it turned out they were all standing side by side. How do we know who sends LTC within the network and to whom?

None of our business who is transacting on the network. Privacy is a right.  Be nice if the price reflected all of these wounded things that LTC is doing.

Old Guys like:  When I first bought Litecoin it was $4. Still holding. Been cool to watch you do your thing over the years.

Charlie Lee tweeted: “Nobody is born a HODLer.”

Community was like:  True, except that their bitcoin stacks should get smaller each time they buy back in. People like to make useless calculus without realizing the true power behind Bitcoin discovery.

Someone was like, this was me 15 years ago.  The only way to make money in crypto is just hold and everything will be sweet.  Unless the market crashes.

Many were left wondering, why will someone say don’t trade Bitcoin, not everybody has the dollar to be buying Bitcoin when it dumps.

Uptrend is only foolish. We’re in a clown world right now where anything could happen. No point holding an asset, ANY asset that goes down 40-50% doesn’t make sense logically or mathematically. The only remotely logical argument is to save on trading tax, else it’s foolish.

Practically, the only reason to buy an asset is because it’s going up.

Holy Grail Troll:  “HODL” is widely considered an acronym of «Hold On for Dear Life» as in to continue to hold the cryptocurrency no matter how bad the volatility. Legend has it the word HODL began as a misspelling of ‘hold’ on the Re-edit online forum.

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Maheen Hernandez

A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies. Appreciate the work? Send a tip to: 0x75395Ea9a42d2742E8d0C798068DeF3590C5Faa5

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