Despite all major cryptocurrencies consistently losing value, Litecoin is still holding its own quite well. Even though LTC has taken some minor price losses as well, it is one of the more resilient currencies right now. Interestingly enough, it doesn’t appear a lot of people are trading LTC futures either. That is rather remarkable, although one can argue Litecoin isn’t volatile enough for futures trading right now.
Given the volatility in all of cryptocurrency, there are golden opportunities for futures traders. This is especially true where both the Bitcoin and Ethereum price are concerned. Litecoin futures are not traded all that much, even though we see some big orders taking place. A few hours ago, a US$10m LTC liquidated short got gobbled up by long positions closing into it. Then again, it seems many people suddenly placed orders of US$100k and higher.
LTC Futures Trading Lacks Volume
That is a bit strange, and it is very likely this is just a fake order book. This movement certainly hasn’t affected the LTC price all that much. The OKCoin futures charts for LTC look pretty strange, to say the least. It is evident people don’t want the Litecoin price to drop any further. So far, the LTC futures market seems to resemble that train of thought. There is no valid reason people would squander money on a short or a long in an hour.
Manipulation is a very real problem in the world of cryptocurrency, though. There are quite a few individuals with lots of money to throw around. They can easily manipulate a market, including futures trading. For most people, a million Dollars is a long-term goal, whereas others see it as mere play money. Looking closely at the charts seems to indicate someone is fulfilling their own orders on both sides of the orderbook to create price momentum.
At the same time, it goes to show there isn’t all that much interest in LTC futures right now. The majority of trading days sees very low volume and hardly any price moment whatsoever. For some reason, there is less interest in this market than one would expect there to be. Litecoin is remarkably stable, which makes it less “fun” to speculate on. No one wants to lose money due to mistakes right now. The markets are already crashing hard enough as is.
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