A playful spat between the official social media account of cryptocurrency Litecoin and crypto influencer Benjamin Cowen has grabbed the eye of the broader crypto neighborhood heading into the weekend.
“Your head jogs my memory of the nice recession,” Litecoin, the Twenty first-largest cryptocurrency by market cap, mentioned in an X publish on Friday, firing again at crypto influencer Benjamin Cowen after he poked enjoyable at Litecoin’s (LTC) long-term worth motion in opposition to Bitcoin (BTC) with the caption “the quiet half.”
Cowen mentioned, “Your market cap jogs my memory of the nice recession.” Litecoin responded, “You may use a cap.” The jokes saved rolling. Litecoin mentioned, “I name this the ‘No want for Head and Shoulders’ chart,” referencing the favored bearish reversal sample.
Litecoin is down roughly 73% from its May 2021 all-time excessive of $410.26 and 67% down from its $25.89 billion market cap peak, now at $8.52 billion, in accordance to CoinMarketCap.
However, the cryptocurrency has climbed roughly 69% over the previous 12 months.
The wider neighborhood joined in on the banter
Litecoin isn’t any stranger to humor on-line; the mission’s social media account typically leans into memes and playful posts to interact its 1.2 million X followers.
Cowen, in the meantime, joked that he’d misplaced all his “hair making an attempt to persuade Litecoiners to transform to Bitcoin.” “A small worth to pay for the higher good,” he added.
Light-hearted social media feuds are frequent within the crypto trade and are normally loved by the neighborhood.
The back-and-forth social alternate captured the curiosity of the broader neighborhood, with the official social media account of cryptocurrency Dash additionally chiming in, commenting, “Price chart immediately means you’ve misplaced the argument.”
Cowen responded, “Dash is down 99% in opposition to Litecoin. Why don’t you sit this one out.”
The alternate led to some merchants altering their tone on LTC
The ongoing alternate led some merchants to counsel they had been changing into extra bullish on the asset. Bitcoin dealer Tyler Durdan mentioned, “Buying Litecoin instantly.”
Related: LTC beneath $90: Buying alternative or warning signal?
It comes as a number of asset administration companies intend to launch Litecoin ETFs within the US.
On Feb. 6, asset administration agency Grayscale utilized to the US Securities and Exchange Commission (SEC) to record shares of the Grayscale Litecoin Trust as an exchange-traded product (ETP) on the New York Stock Exchange (NYSE) Arca.
Just a couple of months prior, in October 2024, asset supervisor Canary Capital filed registration paperwork for a spot Litecoin ETF with the SEC.
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