Litecoin Miner Reserves Decline as Hashrate Hits All-Time High

Litecoin miners have been steadily selling their coin holdings since March 28, resulting in a 29% drop in miner reserves to 1.61 million LTC. This is the lowest level of coins held by miners in Litecoin mining pools since December 2011. The decline in miner reserves suggests that miners are selling their coins for profit or to cover mining costs. Despite this, Litecoin's hashrate has reached an all-time high of 1.07k TH/s. The increase in hashrate alongside the decrease in miner reserves could be attributed to new miners entering the network or existing miners anticipating a price spike. While a large sell-off could impact LTC's price negatively, the altcoin has seen a 6% increase to $74.13. The rising Aroon Up Line indicates a strong uptrend, with a potential rally to $74.40 if the trend continues.