Litecoin, the silver version of Bitcoin, has been gaining momentum in the crypto market, ranking 12th on the global crypto charts. With a surge of 2.47% in the past 24 hours and over 11% increase in the past week, Litecoin is riding on the back of the broader market’s flip to bullish sentiment. Investors are now wondering whether it is the right time to buy Litecoin or consider the fast-rising green blockchain initiative, ecoterra.
At present, Litecoin is on a bullish streak, with its native $LTC asset trading at $96.7, indicating an uptrend of 2.47% in the past 24 hours. The proof-of-work (PoW) blockchain protocol has posted an 11.13% increase in the last seven days, reflecting a positive week for $LTC. Its one-month performance has been a bit tame, as it shot up 8.38% in the last 30 days. Its year-to-date (YTD) performance is up 37.97%, while it has also increased by 50.26% in the past year.
On the technical front, Litecoin’s strong bullish tendency is building momentum around the virtual currency. Its 50-day simple moving average (SMA) price is significantly lower than its current market price, standing at $89.31. The 200-day SMA price also points to a long-term bull run, with the indicator price at $85.36. The relative strength index (RSI) shows that the $LTC asset is inclining towards the overbought zone, with the indicator figure at 63.52. Its moving average convergence divergence (MACD) indicates a strong buy signal in line with the broader crypto market, which has risen into the green zone.
The bullish sentiment around Litecoin has spilled into its fundamental layout. According to a recent tweet from the Litecoin Foundation, the number of unique wallet addresses interacting with the protocol has hit 12.8 million, a significant milestone, given that the number of wallet addresses previously stood at 9.2 million in October 2021. In addition, Litecoin’s transactions have recently been enabled on the Venmo app, giving its millions of customers broader access to the crypto landscape.
While Litecoin is focused on enabling fast and cheap transactions, another blockchain protocol, ecoterra, is launching a green initiative to help combat climate change. The project is a decentralized protocol that enables anyone to join in the fight against climate change. The project runs on a unique recycle-to-earn (R2E) initiative, which allows users to return plastic, glass, or aluminum materials to a reverse vending machine (RVM). By doing so, users receive rewards in the form of various cryptocurrencies.
Furthermore, the ecoterra platform offers a carbon offset marketplace for businesses to participate in reducing their carbon footprint. With its AI-driven tools, companies can curate a large amount of data for their customers and properly compensate them. Ecoterra provides an R2E mobile app to make the process more inclusive and subjective. With this app, users can conveniently track their environmental impact profile from their smartphones.
The eco-friendly project is a beacon many investors are turning to. Ecoterra is every ESG investor’s dream project, and its native token, $ECOTERRA, has enjoyed significant growth in its presale stage. So far, the eco-friendly token has garnered over $4.7 million, pointing to strong investor demand. Early-bird investors can easily buy $ECOTERRA on its presale website for the current price of $0.0085 before it rises to $0.01 in the next couple of hours. In a recent GemsRadar tweet, the $ECOTERRA token was listed as one of the top 10 assets in the market, pointing to the unique appeal it has with several eco-focused investors.
The crypto market is seeing a bullish trend, with Litecoin and ecoterra emerging as two promising initiatives. While Litecoin has been gaining momentum in the market, ecoterra is addressing the growing problem of carbon footprints humans produce, with its unique R2E initiative. Both these cryptocurrencies have unique features that are attracting investors, making them crypto assets to watch in the coming months.