A playful spat between the official social media account of cryptocurrency Litecoin and crypto influencer Benjamin Cowen has grabbed the eye of the broader crypto neighborhood heading into the weekend.
“Your head jogs my memory of the nice recession,” Litecoin, the Twenty first-largest cryptocurrency by market cap, stated in an X submit on Friday, firing again at crypto influencer Benjamin Cowen after he poked enjoyable at Litecoin’s (LTC) long-term value motion in opposition to Bitcoin (BTC) with the caption “the quiet half.”
Cowen stated, “Your market cap jogs my memory of the nice recession.” Litecoin responded, “You can use a cap.” The jokes stored rolling. Litecoin stated, “I name this the ‘No want for Head and Shoulders’ chart,” referencing the favored bearish reversal sample.
Litecoin is down roughly 73% from its Could 2021 all-time excessive of $410.26 and 67% down from its $25.89 billion market cap peak, now at $8.52 billion, in response to CoinMarketCap.
Nevertheless, the cryptocurrency has climbed roughly 69% over the previous yr.
The broader neighborhood joined in on the banter
Litecoin isn’t any stranger to humor on-line; the venture’s social media account typically leans into memes and playful posts to have interaction its 1.2 million X followers.
Cowen, in the meantime, joked that he’d misplaced all his “hair attempting to persuade Litecoiners to transform to Bitcoin.” “A small value to pay for the higher good,” he added.
Gentle-hearted social media feuds are widespread within the crypto trade and are often loved by the neighborhood.
The back-and-forth social change captured the curiosity of the broader neighborhood, with the official social media account of cryptocurrency Sprint additionally chiming in, commenting, “Worth chart immediately means you’ve misplaced the argument.”
Cowen responded, “Sprint is down 99% in opposition to Litecoin. Why don’t you sit this one out.”
The change led to some merchants altering their tone on LTC
The continuing change led some merchants to counsel they have been turning into extra bullish on the asset. Bitcoin dealer Tyler Durdan stated, “Shopping for Litecoin instantly.”
Associated: LTC beneath $90: Shopping for alternative or warning signal?
It comes as a number of asset administration corporations intend to launch Litecoin ETFs within the US.
On Feb. 6, asset administration agency Grayscale utilized to the US Securities and Trade Fee (SEC) to record shares of the Grayscale Litecoin Belief as an exchange-traded product (ETP) on the New York Inventory Trade (NYSE) Arca.
Just some months prior, in October 2024, asset supervisor Canary Capital filed registration paperwork for a spot Litecoin ETF with the SEC.
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