80% of Litecoin Mined in February was Bought by Grayscale Investment

Hello everyone , In this post we will be talking about litecoin and grayscale investment. So let's Start...!!!!

Recent Data that was gathered by Bybt , one of the data analytics tool used to measure data in digital world (crypto currency ) tells us that the majority of litecoin that was mined in the month of february was bought by Crypto Fund Manager Grayscale Investment.

Source

Grayscale already holds around 1.44 million of litecoins that also makes it the third largest firm after BTC and ETH.
The firm is associated in U.S and it is also one of the few firms that open the gate for accredited and institutional investors to invest in various crypto currencies.

Though the biggest Trust that brings the majority of the money of investors is Grayscale Bitcoin Trust but Litecoin is also doing well and it seems like it is creating its own following already.

So we were talking about Grayscale who bought 80% of the total litecoin produced in the month of February. Miners of Litecoin produced around 201600 Litecoin in the month of february out of which 174900 Litecoin were taken up by the Grayscale Litecoin Trust ( LTCN ).

A miner who is mining litecoin is said to validate a transaction on the blockchain every 2.5 minutes that means every 2.5 minute they see a single litecoin block. For these validations as many of you might know that miners receive rewards , these ltc miners also get rewarded for every block produced.

And miners sell these block rewards in the market to cover the cost of equipment or computation that is being done to mine these ltc.

According to Grayscale it was found that despite the fact that LTCN is the third largest firm it was seen that the demand for litecoin has increased rapidly compared to other two firms that are ETH and BTC firm.
Hence , Litecoin is unmatched in its own league and if the trend continues it ll fortunately attract more people towards ltc.

Anyways , thats all for this post , I will be back with another post soon related to Crypto World.

Thank You