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Grayscale's Litecoin Trust (LTCN) is Trading at a 463.95% Premium - Ethereum World News

Grayscale’s Litecoin Trust (LTCN) is trading at a 463.95% premium Each LTCN is trading at $59.83 in pre-market trading Each LTCN represents 0.09187613 LTC which is an actual value of roughly $10.42 using a Litecoin rate of $113.40 Grayscale’s Litecoin Trust now holds LTC worth $168.45 Million Litecoin has bounced off the $100 support but remains in bear territory

According to Bybt.com, Grayscale’s Litecoin Trust (LTCN), is currently trading at a 463.95% premium. The screenshot below, courtesy of the tracking website further demonstrates that Grayscale has also accumulated 583 Litecoin in the last 7 days and a total of 31,120 LTC in the last month. Additionally, the Grayscale Litecoin Trust currently now holds a total of 1.55 million LTC valued at roughly $168.45 million.

Each LTCN represents 0.09187613 LTC

According to Grayscale’s website, each LTCN represents 0.09187613 Litecoin (LTC). Further doing the math, and using Litecoin’s current price at $113.40, each LTCN share has an actual value of roughly $10.42.

However, and at the time of writing, each LTCN share is currently trading at $59.83 in the premarket. Consequently, the revised premium on the Grayscale Litecoin Trust is roughly 473.72%.

Litecoin Bounces off the $100 Support, Remains in Bear Territory

With respect to price action, Litecoin is currently trading at $113.40 after yesterday’s low of $103.83 due to Bitcoin also dipping to a local low of $29,278. The daily LTC/USDT chart below also shows that Litecoin bounced off the $100 support area that is the floor of a descending triangle.

Additionally, the following can be observed from the daily LTC/USDT chart.

Litecoin is in bear territory trading below the 50-day, 100-day and 200-day moving averages Trade volume is in the green with the daily MACD’s histograms confirming a reduction in selling The daily MFI and RSI are in oversold territory. They are hinting of a possible reversal for Litecoin as Bitcoin attemp...
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