Thu, June 1, 2023 | 12:12PM ET

Litecoin Trade Gains Momentum, First Digital Group Announces Stablecoin

Name: FS Insight
Price range: $$$

After stalling yesterday, traditional equity indices have continued their march upwards, with the ^SPX (+0.86%) surpassing $4,200 and the NDQ (+1.01%) pushing past $14,400. Debt ceiling fears have largely been alleviated as a bill suspending the ceiling passed the House late last night and will now move on to a Senate vote. Crypto markets are not sharing the same optimism as BTC (-1.19%) has dropped back below $27k and ETH (-0.61%) remains stagnant around $1,850. As mentioned in our recent Crypto Weekly as a trade idea, buying Litecoin (LTC) leading into its halving events has proved historically profitable. LTC is todayâs top performer among the top 100 coins, rising 7% over the last 24 hours as traders may be positioning accordingly for its upcoming August halvening.

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