Home Litecoin Grayscale Litecoin (LTC) Trust Trades at 1800% Premium, Charlie Lee Compares NFTs to ICO Mania – Coinspeaker

Grayscale Litecoin (LTC) Trust Trades at 1800% Premium, Charlie Lee Compares NFTs to ICO Mania – Coinspeaker

6 min read

LTCN shares are buying and selling 20 instances decrease compared to the LTC holdings per share by Grayscale. Thus, it’s 20 instances dearer to purchase Litecoin through Grayscale than immediately by way of the spot alternate. 

The world’s eighth-largest cryptocurrency Litecoin (LTC) is up 13% at the moment and is simply wanting $200. At press time, LTC is buying and selling at a worth of $194.9 with a market cap of $12.9 billion. Curiously, buyers searching for publicity to LTC through the Grayscale Litecoin Belief are paying a premium of 1800%. The shares of Grayscale Litecoin Belief (OTCMKTS: LTCN) have been buying and selling at this large premium over the market price of the underlying asset i.e. Litecoin (LTC).

Grayscale Litecoin (LTC) Belief

On Tuesday, March 2, the LTCN shares touched a peak of $391 earlier than correcting almost 5% by the top of the buying and selling session. This extensive distinction arises majorly from the retail buyers’ incapability to purchase LTCN shares immediately from Grayscale. The Belief is mainly obtainable solely to accredited buyers.

Whereas LTCN shares are buying and selling at over $300, its LTC holdings per share are price simply $16.42. Thus, it’s 20 instances more expensive to purchase Litecoin through Grayscale than immediately by way of the spot alternate.

Grayscale launched its Litecoin Belief (LTCN) final 12 months in August 2020. The LTCN share worth peaked out in November that 12 months capturing all the best way to $500. Whereas the premium for the Litecoin fund has dropped considerably during the last three months, funding for LTCN isn’t a lot enticing for retail gamers but.

It seems that Grayscale itself has been aggressively shopping for LTC during the last month. A tweet from Litecoin reveals that Grayscale scooped almost 80% of all Litecoins mined final month.

Anybody prepared to leverage this arbitrage alternative with LTCN share worth must know that each one LTCN shares require a minimal of a one-year holding interval after creation. Additionally, one must be an accredited investor with a minimal funding ticket of $25,000.

Litecoin Founder Calls NFT Craze Just like ICO Mania

Non-fungible tokens (NFTs) are getting all of the limelight in current days. Bing names like Christie’s and NBA have adopted the NFT path to promote some very talked-about digital art work and movies by way of the NFT digital collectibles.

With all of the frenzy round NFTs, Litecoin founder Charlie Lee compares it to the 2017 ICO mania. Lee mentions 5 factors of similarity between the present NFT recognition and the 2017 ICO mania. Curiously, he additionally compares each to the altcoin mania of 2013.

Lee isn’t alone in his criticism of NFTs. A few of the well-liked personalities from the crypto house share related opinions on it.

Altcoin News, Blockchain News, Cryptocurrency news, News

Bhushan Akolkar

Bhushan is a FinTech fanatic and holds a great aptitude in understanding monetary markets. His curiosity in economics and finance draw his consideration in the direction of the brand new rising Blockchain Know-how and Cryptocurrency markets. He’s repeatedly in a studying course of and retains himself motivated by sharing his acquired data. In free time he reads thriller fictions novels and generally discover his culinary abilities.

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