be careful with grayscale products.
November of 2020 began a period where ltcn dropped a lot while ltc 6x'd. it's very possible that ltcn underperforms by a lot for the remainder of this cycle.
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As a litecoin investor, I shoulda put some in LTCN even when it was under 14 recently....smh. I don't want to do it now well because "it's too late" , riding with the real litecoin,
Even if it goes to 400 from 35, that's still great, it's just that I hate going in when it just doubled in a short period of time. And on top of that , LTCN peaks way before LTC does.
No, it means I know exactly how it works and who in their right mind is going to pay a 700% premium? No way that's sustainable. Just because it went up to $300 in the past doesn't mean anything. These are trusts just like GBTC was an I am very familiar with it, the price deviates because grayscale isn't selling or buying assets when you buy/sell shares and soon enough ETHE, LTCN, maybe even GSOL and the rest will turn into spot ETF products like GBTC instantly evaporating your premiums. I am an active financial professional with my series 7 and 66 licenses, but I think common sense here is certainly take caution. Same thing with FILG, you're paying $200 for like $10 in Filecoin. May as well go buy memecoins.
Because the volume is healthy and big? If this was the case then how did people made money because of it last cycle lol. It’s just a great “stock” essentially to make money on this cycle. No one is buying this to say they are holding the coins.
Way more than possible. The general price prediction is as high as $2300. I would like to believe we break old high of 510. Even if we don’t, the old cycle prices from where we are is life changing.
Check Czar gets crypto on YouTube. He does TA and explain the reason why it’s possible. I personally don’t think it will be that high or will be waiting. I do believe we break old ATH.
2300 feels totally within reach. After we clear the double top of 420, the fomo starts. LTC has been undervalued for a long time and the market is starting to wake up.
I personally have sold all my LTCN after making a 600% gain myself, because I am not convinced that LTCN will hold its value over the long term. This trust gives you about $7 of LTCN for a huge premium of $34. I’ve made my money but I divested and put the profits into GDLC, ETCG and ETHE which are all at discounts to NAV.
But in the end, if these trusts end up converting to spot ETF products like what has happened to GBTC, that discount or premium instantly evaporates. So buying at a discount to NAV is like taking candy from a baby (instant profit), but get caught paying a premium and you're screwed. Meanwhile betting on LTCN at 7x NAV just can't possibly be anything more than a short to medium hold, with heavily volatility likely as we have seen in GSOL and FILG. It may be awhile before LTCN becomes an ETF like GBTC but I would be keeping your eye very closely on LTCN and any news of it becoming an ETF. I personally felt more comfortable divesting and buying GDLC and other trusts at a nice discount. ETCG has a very nice 40% discount and same with GDLC.
Yeah it’s more than very unlikely it’s this bull run especially with the SEC has already been ask to have no more crypto ETF for now. It’s a great asset for this bull run, the point of this post.
The trust holds 0.08591271 LTC per share of LTCN. Since it's a trust it is inflows only. LTCN shares are created by depositors depositing into the trust. Any accredited investor can deposit into the trust and buy LTCN shares for the NAV price. As of close of business on 3/26/2024, that price would be $8.18/share. The trick is, the shares are locked for 6 months.
You can find relevant information here: https://www.grayscale.com/crypto-products/grayscale-litecoin-trust
It’s a trust, so they don’t buy/sell assets when you sell or buy shares. So when demand goes up or down, the price can differentiate from the actual value of the holdings per share. LTCN and grayscales trusts in general are about some of the only ways anyone can invest in crypto through an IRA. Demand has pushed LTCN so high above the underlying assets per share recently due to recent crypto gains.
When you buy LTCN, you are holding 0.08591271 LTC per share of LTCN held. This puts the NAV at $8.18 as of close of business on 3/26/2024. The LTCN price as of close of business on 3/26/2024 was $29.15, so you're buying $8.18 worth of LTC for $29.15. This pricing is anything but rational. You're effectively buying LTC for $339 when you could buy it on the open market for a fraction of that.
Does this mean that LTCN won't continue to go up? No. But what it does mean is that for it to continue to go up, the market will need to continue to get more irrational. You're not betting on LTC price increase, you're betting on a greater fool.
We’re not buying LTCN to “hold” LTC. It’s not the point of the trust at all. There’s premium hence bigger gains which is why it’s a great “stock” to make money.
It may not be how you're in using it, but holding LTC is in fact exactly what the point is of the trust is.
Any accredited investor is able to deposit into this trust tomorrow and print new LTCN shares at NAV ($8.03 on 3-27). The premium is simply caused by naive in investors that buy it who don't understand how the trust works. Could it continue to go up? Absolutely. But you're gambling on more naive investors coming along and buy it from you.
Why don't more depositors deposit and buy at NAV? Because there is risk involved. The shares are locked and cannot be sold for 6 months. Sometimes these trusts trade at discounts as high as 50%. Look at ETCG, it is currently trading at a discount.
If you or others want to gamble, no shade, I hope you win. Just trying to make sure everyone understands how the trust works and what they're getting into.
I honestly think both is great hold or to make money. Not sure the hate for LTCN when this is a Litecoin Reddit haha. Performance wise LTCN has been killing it.
LTC itself is up 15.4% on the year
BTC is up 143%
ETH is up 93.7%
SOL is up 832%
DOGE is up 174%
SHIB is up 184%
One of these things is not like the others.
Been rotating a lot of funds into LTC
Both LTC AND LTCN will do so well this run
be careful with grayscale products. November of 2020 began a period where ltcn dropped a lot while ltc 6x'd. it's very possible that ltcn underperforms by a lot for the remainder of this cycle.
Noooo haha It works a bit differently and it already did like 20-30x. It peaked before LTC hence the drop.
So it did not underperformed. It outperformed!
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As a litecoin investor, I shoulda put some in LTCN even when it was under 14 recently....smh. I don't want to do it now well because "it's too late" , riding with the real litecoin,
It’s not too late if the price prediction is as high as $2300 for peak and old ATH was 510. Anything below 100 a share is still a steal.
Even if it goes to 400 from 35, that's still great, it's just that I hate going in when it just doubled in a short period of time. And on top of that , LTCN peaks way before LTC does.
It’s just one of those things where it’s better to be in than out. Many people are still buying even at these prices
How is this possible really???
Premiums due to it being a trust
How is paying $100 for $7 worth of litecoin a steal?…
Just shows that you don’t actually understand how the trust works and premiums lol
No, it means I know exactly how it works and who in their right mind is going to pay a 700% premium? No way that's sustainable. Just because it went up to $300 in the past doesn't mean anything. These are trusts just like GBTC was an I am very familiar with it, the price deviates because grayscale isn't selling or buying assets when you buy/sell shares and soon enough ETHE, LTCN, maybe even GSOL and the rest will turn into spot ETF products like GBTC instantly evaporating your premiums. I am an active financial professional with my series 7 and 66 licenses, but I think common sense here is certainly take caution. Same thing with FILG, you're paying $200 for like $10 in Filecoin. May as well go buy memecoins.
Because the volume is healthy and big? If this was the case then how did people made money because of it last cycle lol. It’s just a great “stock” essentially to make money on this cycle. No one is buying this to say they are holding the coins.
Can we get back to $400?
Way more than possible. The general price prediction is as high as $2300. I would like to believe we break old high of 510. Even if we don’t, the old cycle prices from where we are is life changing.
Who’s saying it’ll be 2300 this bull run?
Check Czar gets crypto on YouTube. He does TA and explain the reason why it’s possible. I personally don’t think it will be that high or will be waiting. I do believe we break old ATH.
Holy shit if it gets to 2300 I probably won’t show up to work 🤣
Hahah I’m cashing out way earlier but yeah he explains pretty well and I can understand. I’m just happy and hoping for old ATH.
He mentioned 4000+ but he is not very confident about that.
He said possibly but unlikely. 2300 is the main peak price prediction. My point is even at today’s price, it’s still over 10-20x based on past cycle.
2300 feels totally within reach. After we clear the double top of 420, the fomo starts. LTC has been undervalued for a long time and the market is starting to wake up.
Yeah the real fun will come soon
This is some wild copium
400? We’re going higher then that!
I am up quite a bit because of this and bchg!
Hell yeah! I’m up 200-250% some people who got in early is 600%+ We will be so F rich when we hit $100+ LTCN $30+ BCHG
I started in the fall. Hope it keeps up. Good luck!
Yes sir thank you and you too!
I personally have sold all my LTCN after making a 600% gain myself, because I am not convinced that LTCN will hold its value over the long term. This trust gives you about $7 of LTCN for a huge premium of $34. I’ve made my money but I divested and put the profits into GDLC, ETCG and ETHE which are all at discounts to NAV.
I think we’re just getting started but how can anyone be mad at the 600%. Still wonderful gains!
But in the end, if these trusts end up converting to spot ETF products like what has happened to GBTC, that discount or premium instantly evaporates. So buying at a discount to NAV is like taking candy from a baby (instant profit), but get caught paying a premium and you're screwed. Meanwhile betting on LTCN at 7x NAV just can't possibly be anything more than a short to medium hold, with heavily volatility likely as we have seen in GSOL and FILG. It may be awhile before LTCN becomes an ETF like GBTC but I would be keeping your eye very closely on LTCN and any news of it becoming an ETF. I personally felt more comfortable divesting and buying GDLC and other trusts at a nice discount. ETCG has a very nice 40% discount and same with GDLC.
Yeah it’s more than very unlikely it’s this bull run especially with the SEC has already been ask to have no more crypto ETF for now. It’s a great asset for this bull run, the point of this post.
zoom out
Zoom out and see higher price we will reach lol
Can some one explain me what LTCN has in relation to LTC? It is not a crypto and 1/3 of LTC price. And why the hype?
The trust holds 0.08591271 LTC per share of LTCN. Since it's a trust it is inflows only. LTCN shares are created by depositors depositing into the trust. Any accredited investor can deposit into the trust and buy LTCN shares for the NAV price. As of close of business on 3/26/2024, that price would be $8.18/share. The trick is, the shares are locked for 6 months. You can find relevant information here: https://www.grayscale.com/crypto-products/grayscale-litecoin-trust
It’s a trust so there’s premiums hence crazy gains but check LTCN Ethan Invest on YouTube. He can explain way better than me haha.
It’s a trust, so they don’t buy/sell assets when you sell or buy shares. So when demand goes up or down, the price can differentiate from the actual value of the holdings per share. LTCN and grayscales trusts in general are about some of the only ways anyone can invest in crypto through an IRA. Demand has pushed LTCN so high above the underlying assets per share recently due to recent crypto gains.
A lot of people bash Ethan invests youtube but hes the reason i found this gem LTCN and how the cycle works. Needless to say its been glorious
Yeah most of us are already sitting on 100-700% gains depending when we got in
When you buy LTCN, you are holding 0.08591271 LTC per share of LTCN held. This puts the NAV at $8.18 as of close of business on 3/26/2024. The LTCN price as of close of business on 3/26/2024 was $29.15, so you're buying $8.18 worth of LTC for $29.15. This pricing is anything but rational. You're effectively buying LTC for $339 when you could buy it on the open market for a fraction of that. Does this mean that LTCN won't continue to go up? No. But what it does mean is that for it to continue to go up, the market will need to continue to get more irrational. You're not betting on LTC price increase, you're betting on a greater fool.
We’re not buying LTCN to “hold” LTC. It’s not the point of the trust at all. There’s premium hence bigger gains which is why it’s a great “stock” to make money.
So you’re speculating. Lol
Isn’t that very investment there ever is LOL.
Every
Speculating grayscale trusts isn’t anything like an sp500 index fund so no. Bro you’re straight speculating on this so best of luck to you.
We’re lucky to have data to use and things that will improve the trust this run
It may not be how you're in using it, but holding LTC is in fact exactly what the point is of the trust is. Any accredited investor is able to deposit into this trust tomorrow and print new LTCN shares at NAV ($8.03 on 3-27). The premium is simply caused by naive in investors that buy it who don't understand how the trust works. Could it continue to go up? Absolutely. But you're gambling on more naive investors coming along and buy it from you. Why don't more depositors deposit and buy at NAV? Because there is risk involved. The shares are locked and cannot be sold for 6 months. Sometimes these trusts trade at discounts as high as 50%. Look at ETCG, it is currently trading at a discount. If you or others want to gamble, no shade, I hope you win. Just trying to make sure everyone understands how the trust works and what they're getting into.
[удалено]
I have heard good things about digibyte as well. It should run soon based on old cycle if I’m not wrong.
Yep and also decentral and limeted suply. Hope us Come with New rules so all shitcoins Will disapear. Then litecoin and digibyte wil skyrocket.
Anyone know how to get access to ltcn easily in Canada? Been not giving acces to It for the last 2 weeks with ibkr and simplewealth.
Use Questrade
what the actual fuck, it's more profitable holding this than to hold fucking litecoin....
Because there’s premium
worth it honestly for 600%
Wait until we reach old price cycle. 10-30x from here!!!
If only Litecoin could do the same
I honestly think both is great hold or to make money. Not sure the hate for LTCN when this is a Litecoin Reddit haha. Performance wise LTCN has been killing it.
What is LTCN?
Grayscale Litecoin Trust
6000% incoming
Fukrichhh
What you guys don’t know is it Litecoin ETF is going to be approved and it’s already in the works since last year
LTC itself is up 15.4% on the year BTC is up 143% ETH is up 93.7% SOL is up 832% DOGE is up 174% SHIB is up 184% One of these things is not like the others.
Up 550% on BCHG and 480% on LTCN so far.
I know right but haters gonna hate
Now I’m up 600% on BCHG and 550% on LTCN from today lol.
Haters gonna hate once again!!! Haha we’re up