Home » Technology » Litecoin New Update Not Sufficient To Keep Miners Going – Here’s Why

One way to increase investor interest in login passwords is to improve the Internet. Real estate developers of digital currency will generally clearly put forward improvement plans to improve the efficiency of the Internet, meet the requirements of users, and solve the problem of blocking seamless splicing.

In the process of recent development, Litecoin has issued network upgrades to improve network information security and fix key problems that endanger connection points.

The Litecoin Charitable Foundation released an update called Litecoin Core on March 2, and atTweet. But given the fall in LTC prices, the upgrade doesn't seem to keep miners interested in the Internet.

Soaring Litecoin prices and optimizing incentives for miners

LTC reported $68 at the end of 2022. An intraday high of $70 and an intraday floor of $67.79 were recorded on the same day. The next day, actually, on January 1st, LTC kicked off with a proactive price, pushing its price up to $74 at the close of the market.

The volume continued to rise until it hit $90 on January 14 and $101 on February 2. From February 3 to March 3, LTC bought and sold for between $80, $90 and $100 in some places.

As of press time, the LTC transaction price is $89.Indicating a slight decline within 24 hours. However, its trading volume fell by 48.42%, indicating that the trading activity of such coins is slow.

What is noteworthy is thatLitecoin Core enhanced LTC mining growth.Coinwarz data informationIt shows that the Internet hash rate has increased slightly, indicating that a new mine is coming.

Miners may lose interest after prices fall.

But LTC once recorded a 7 per cent price drop in 24 hours, scaring investors. In addition, its stock market k chart shows that short orders promote the emergence of prices. LTC's relative strength index (RSI) fell below the neutral threshold, and its Chaikin cash flow (CMF) also declined.

Another indicator is that LTC prices hit the bottom of the Bollinger range, indicating a move into highly volatile areas. MACD also shows a bullish trend in the LTC market, indicating that more and more empty orders will pour in in the coming days.

At this stage, the index value of the LTC data chart indicates that the price is about to fall. The characteristics of the blockchain are not exciting because its index value looks terrible. Another worrying problem is the decline in LTC's daily chain trading volume. According to CoinMarkets, LTC trading volume fell by 48.56 per cent.

In addition, along with the substantial drop in DyDx financing interest rates recorded by LTC on March 3, the market demand for financial derivatives has also dropped significantly. In the case of all these losses and index values, there is a negative mood in the LTC market, which reduces the self-confidence of investors.

People in the industry worry that miners may also lose interest in the Internet if oil prices plummet. In addition, with the fluctuation of the trend, LTC is unable to reach the daily average.

The picture is from Pixabay and the data chart is from Tradingview.com.

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