Litecoin and Cardano are among the most talked-about cryptocurrencies in the market. The altcoins have delivered double-digit gains this month, as TradingView reveals, with ADA pumping nearly 60% and LTC surging close to 42%. The returns came in a short period, making investors earn a quick buck. Both cryptocurrencies remain in the green, and traders are making the most out of the recent price rally. In this article, we will highlight where to invest $1,000 now as the broader markets are surging in value.
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Cardano’s ADA or Litecoin’s LTC: Which Can Deliver Profits?
Cardano’s ADA could deliver more profits than Litecoin’s LTC during the ongoing rally. ADA is aiming to climb above the $1 mark, and bulls are taking entry positions into the altcoin. Its price is currently hovering around the $0.87 range and could hit $1 this week if it holds on to the momentum.
On the other hand, Litecoin is trading at $114 on Tuesday and has dipped 4% in the last 24 hours. LTC was at $71 a month ago and sustainably scaled up in the charts in July. The price might have peaked as traders are now initiating sell-offs and indulging in profit bookings. Therefore, its price is declining and could rebound after it bottoms out in the charts. This gives Cardano’s ADA an edge over Litecoin as the leading altcoin is still attracting buying pressure.
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The $1 goal remains intact, and bulls are setting the stage for a rally. If Cardano hits the $1 mark, it would surge by another 15% from its current price of $0.87. An investment of $1,000 could turn into $1,150 in the short term. Litecoin’s LTC is now on a slippery slope, and the chances of traders losing money remain high. LTC is best to accumulate when it dips to the $90 level again. Also, it’s best to sell ADA after it climbs above the $1 mark as it could slide to $0.90.