- Leading Australian Bank, Commonwealth Bank of Australia now offers users the ability to buy, sell and hold Litecoin.
- Analysts have predicted that Litecoin price could climb higher, expecting LTC to hit $1,000 in the altcoin season.
- Litecoin on-chain activity exploded after the launch of the LTC Visa debit card powered by Unbanked.
On-chain activity on the Litecoin network hit a peak after the launch of the altcoin's debit card. Litecoin cardholders can now spend the altcoin at nearly 50 million merchants worldwide.
Litecoin on-chain activity explodes, analysts predict LTC price rally
The total number of Litecoin transactions have crossed over 140,000 in the past week. The Litecoin Foundation's announcement of a debit card triggered a spike in on-chain activity on the LTC network.
Potential Litecoin debit card users can spend their LTC holdings across 50 million merchant stores, increasing the utility and usage of the altcoin. Litecoin's acceptance is currently less than half of Bitcoin.
Commonwealth Bank of Australia announced that users will now have access to buy, sell and hold Litecoin in the bank's application- CommBank. It is Australia's first bank to offer the service through its mobile application. The bank has partnered with Gemini, a cryptocurrency custodian and exchange, to offer the service to users.
We’re becoming the first Australian bank to offer the ability to buy, sell and hold crypto assets directly in the CommBank app. pic.twitter.com/OzX1qtvu9B
— CommBank (@CommBank) November 3, 2021
In the coming weeks, the bank has scheduled the pilot and plans to roll out features in a phased manner to more customers in 2022.
Pseudonymous cryptocurrency analyst and trader @BigCheds believes that Litecoin price could hit the $1,000 target in the ongoing bull run.
$LTC has plenty of room to pump this year, just not reach 1k by end of year as was the bet
— Cheds (@BigCheds) November 1, 2021
@crypto_birb, cryptocurrency analyst, had predicted the Bitcoin all-time high accurately four months ago. The analyst revealed a target of $1,000 for LTC in a recent tweet.
$LTC $2000*
— CRYPTO₿IRB (@crypto_birb) November 2, 2021
The analyst has evaluated the LTC price trend and labeled it the most significant 2-year long bullish divergence ever. @crypto_birb expects an LTC price rally in Q4 2021.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks

Bitcoin holds steady, Fed warns of tariffs’ impact, as Gold hits new highs
Bitcoin price consolidates above $84,000 on Friday, a short-term support that has gained significance this week. The world's largest cryptocurrency by market capitalization continued to weather storms caused by US President Donald Trump's incessant trade war with China after pausing reciprocal tariffs for 90 days on April 9 for other countries.

Official Trump massive $300M token unlock spells doom
Official Trump ($TRUMP), the Presidential meme coin launched in January by the United States (US) President Trump family’s World Liberty Financial company, is in a precarious situation that could see volatility spike significantly.

How will President Trump's threat to Powell affect Bitcoin?
Bitcoin (BTC) traded above $84,000 on Friday as President Donald Trump slammed Federal Reserve (Fed) Chairman Jerome Powell for not cutting interest rates on time. Trump pointed to the European Central Bank (ECB) lowering rates by 25 basis points, urging Powell to do the same in the US.

Slovenia moves to impose 25% tax on crypto traders
Slovenia has become the latest European Union member state to crack down on untaxed crypto gains, unveiling a proposal to impose a 25% tax on personal profits from digital asset disposals starting in 2026.

Bitcoin Weekly Forecast: BTC holds steady, Fed warns of tariffs’ impact, as Gold hits new highs
Bitcoin price consolidates above $84,000 on Friday, a short-term support that has gained significance this week. The world's largest cryptocurrency by market capitalization continued to weather storms caused by US President Donald Trump's incessant trade war with China after pausing reciprocal tariffs for 90 days on April 9 for other countries.

The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.