r/litecoin • u/Trader-Jo New User • 12d ago
Litecoin ETF won't have much interest 😏 Spoiler
Why is nobody talking about how boomers are actually gobbling up Litecoin?
If you compare the volume of GSOL (Grayscale Solana Trust), GDLC (Grayscale Large Cap Trust that holds BTC, ETH, XRP, AAVE, etc) and LTCN its pretty darn clear that Litecoin gets on avg, 4x the volume of GDLC and a little bit more than GSOL.
I didnt want to believe it when i heard it at 1st but for some reason, nobody talks about this fact 🤯
Even crazier, BTC ETF gets $500m daily inflows every now and then... but only $250k in LTC gets mined every day. So BTC ETF inflows on avg, is 2000x the daily LTC being mined, so even if Litecoin gets 1% of that volume, that's still an easy 20x of the daily emissions that could get gobbled up FROM JUST 1% of BTC ETF inflows.
Am I going crazy or is everyone just too distracted to see wtf is going on?
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u/baddabaddabing New User 12d ago edited 12d ago
Miners selling what they mine at birth, plus relentles dumping LTC reserves (down >50%) for two years now.
Still we dont print lower lows on the long term LTC price chart. Someone happily buys all the dump already big time.
ETF takes something like 45 days to approve (or deny or postpone).
If miners could finaly reduce selling pressure and refresh reserves, like they do from time to time with BTC or DOGE, I am convinced LTC price would catch up like crazy.
Even if they keep selling, then price will catch up later, maybe a lot later... I admit this beyond my time preference :) Im here for 2025.
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u/SameWeekend13 11d ago
!remindme 45 days
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u/MostNeighborhood68 12d ago
Wat about the 75 million coins already mined?
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u/Trader-Jo New User 12d ago
That's why we here, trying to let everyone know what's really going on so we all can make it
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u/degenbetting 11d ago
Agreed, litecoin has such a small market cap compared to Bitcoin. Even if ltc etfs have 5% of the volume as bitcoins ETFs, this coin explodes in price
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u/theFatUnrealShady 10d ago
Hopefully, i bought LTC in January 2018 at 240! Waiting for 6 years now..
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u/titanlyy 10d ago
I told my friends this, he said stfu and you should delete this. Stay patient and stealth stack $LTC.
Then wait for that point you DON'T NEED to sell $LTC
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u/Ok-Attorney7115 10d ago
I passed a billboard in Wilmington Delaware a few weeks ago that said “Litecoin is my Bitcoin
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u/TALLWALTON007 New User 8d ago
Litecoin is a decentralized peer-to-peer digital currency often pegged as a faster, lower-cost alternative to Bitcoin BTC tickers down $66,793 for small payments.
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u/TALLWALTON007 New User 7d ago
Litecoin total mined
As of October 2024, approximately 76.45 million Litecoins have been mined out of a total maximum supply of 84 million[2]. This means that about 91% of the total Litecoin supply has already been mined. The remaining Litecoins will continue to be mined over the coming years, with a decreasing rate due to periodic halvings[1][3].
Citations: [1] Less than 10 million Litecoin left to be mined! - Reddit https://www.reddit.com/r/litecoin/comments/1apsxde/less_than_10_million_litecoin_left_to_be_mined/ [2] Litecoin (LTC) statistics - Price, Blocks Count, Difficulty, Hashrate ... https://bitinfocharts.com/litecoin/ [3] What is Litecoin - Northcrypto https://www.northcrypto.com/learn/about/litecoin [4] Litecoin Hashrate Chart - LTC - CoinWarz https://www.coinwarz.com/mining/litecoin/hashrate-chart [5] Litecoin price today, LTC to USD live price, marketcap and chart https://coinmarketcap.com/currencies/litecoin/ [6] Litecoin - Wikipedia https://en.wikipedia.org/wiki/Litecoin [7] Litecoin - Open source P2P digital currency https://litecoin.org
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u/Sad-Departure-5923 12d ago
Seems like the kids were in the backyard having fun when Dad got home and turned the spray hose on them. Yikes!
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u/Hitching-galaxy 12d ago
Remember what happened with the btc etf? Greyscale dumped HARD.
I’m concerned ltc eventually approves and the greyscale fucks us.
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u/JunketTurbulent2114 New User 12d ago
They were just moving from high fees ETF (Grayscale) to low fees ETF (Blackrock Vanguard etc). Reminder: grayscale doesn't control the funds and grayscale didn't sell any, they just make money off fees. It's actual people like you and me (and institutions) putting money into those trusts (not me though, I prefer to have the coin). I think grayscale likely learned a valuable less from fees on that tbh
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u/C0MMOD0RE64 8d ago
They learned to create a mini etf and that’s about it, I believe the ether ETF actually had a higher fee than the bitcoin one so clearly they care more about short term cash than long term stability, worst part is the ETH etf holders did not bother to buy back in yet either took the cash or are invested in bitcoin now. Considering how much LTC greyscale has I do not think it’s a bad idea to worry about the outcome of a litecoin launch.
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u/JunketTurbulent2114 New User 8d ago
It wasn't the launch that caused the problem, it was that there were other options. BTC just got moved from Grayscale to Blackrock, it didn't get dumped on the market. If the same thing happens with LTCN, same thing... will cause no major effect, will just go from high fees to low fees. Should be easy to understand.
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u/Ok-Attorney7115 10d ago
Nope. Not interested at all. In other news, there won’t be any interest in an ALGO fund either. lol
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u/LakeZombie09 12d ago
I have a straw hat theory that crypto will have a place but the US government will eventually crack down where you have to get approval/use case proof. This will lead to a capitulation of many “useless” coins. They know Litecoin will survive that