September 14th Multicoin Capital, a considerable fund of crypto hedge supported by prominent VCs Fred Wilson with $ 75 million AUM, called litecoin (LTC) a "relic of the cryptography ecosystem of the pre-smart contract platform" and recommended a cryptocurrency short-trade that was exchanged at a minimum of one year in a relationship.
Since then, Litecoin's price has risen by almost 20% from $ 53.50 to $ 63.41.
The addition of further pressures on the Multicoin bearish call is the fact that the short interest in Litecoin declined over the past week. Previously, the short interest was over $ 10 million in LTC sold shortly, but today this number has been reduced to about $ 6.4 million.
As Litecoin continues to record higher lows since September 12, a new bullish trend may form, indicating more pain for the main fund of crypto hedge. LTC is currently valued at $ 3.7 billion, placing it in 7th place in the AltDex 100 Index (ALT100), a reference index for cryptocurrencies and large tokens.
Other: Litecoin's maker (LTC) returns to bearish and hedge funds
Similar: decline in interest of Ethereum (ETH) and Litecoin (LTC) as Crypto Market Rallies
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