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Grayscale bought 80% of the mined coins in the Litecoin network in February


Grayscale Investments has repurchased more than 174,900 Litecoin (LTC) over the past 30 days out of 201,600 coins mined during this period. The aggregate figure of the management company reached LTC 1.44 million (~ $ 248.3 million).

According to LitecoinBlockHalf, in the Litecoin network, miners, on average, mine a block every 2.5 minutes and receive a reward in the form of 12.5 LTC. In February they earned 201 600 LTC, over the last 30 days – 201 600 LTC.

Grayscale Investments has formed nine investment products. The Litecoin-based trust under the symbol LTCN ranks fourth in terms of assets under management ($ 244.5 million). According to the latest data, it accounted for 0.7% of the total funds of Grayscale Investments. Bitcoin and Ethereum funds have 84.4% and 12.77% respectively.

LTCN is currently trading at a premium of over 1,700% to the price of LTC. Summer 2020 Margin on Grayscale Litecoin Trust Shares amounted to 753%

Recall that LTCN trading on the secondary market started in August 2020. It is available to accredited and institutional investors by subscription or over the counter.

In February, the board of directors of Ebang International Holdings decided to start the business for mining Litecoin

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Fidenge Pecold

My profession is a journalist, but my hobby for 8 years has been studying Forex investing and trading. During this time, I managed to gain extensive experience in investing and trading cryptocurrencies and double my capital in the Forex market. To be the author of this magazine, the site owners invited me to participate in one of the 2020 trading webinars, and I will try to reveal the most relevant crypto market news for you.

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