Grayscale Bought Majority Of All Litecoin Mined In February
Crypto fund manager Grayscale Investments has bought the majority of Litecoin mined last month, data from markets tool Bybt shows. Grayscale currently holds over 1.44 million Litecoin ($248.33 million), making it the firm’s third-largest crypto holding after Bitcoin and Ethereum.
Miners produced over 201,600 Litecoin in the past 28 days. But as the supply increased, Grayscale customers were on the other end picking the majority of the new coins up. In the last 30 days, Grayscale’s Litecoin Trust (LTCN) acquired 174,900 Litecoin. (It’s worth nothing that it’s possible that some customers are moving their Litecoin to the trust rather than picking up more on the market).
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