Litecoin and KOL verbal battle: From market price to appearance

A "fun verbal battle" between the official social media account of the cryptocurrency Litecoin and KOL Benjamin Cowen has drawn attention from the larger crypto community over the weekend.

"Your head reminds me of the Great Depression," Litecoin – the 21st largest cryptocurrency by market capitalization wrote on X on Friday, responding to Cowen after he mocked the long-term price movement of LTC compared to Bitcoin with the caption "the quiet part."

Cowen responded: "Your market capitalization reminds me of the Great Depression."

Litecoin strikes back: "You can use a hat to cover it up." The joke continues as Litecoin adds: "I call this the no head and shoulders chart," referring to the popular bearish reversal pattern.

Source: Benjamin CowenAccording to CoinMarketCap, LTC is currently down about 73% from its all-time high in May 2021 at $412.96 and has lost 67% of its market cap from its peak of $25.89 billion, now only $8.49 billion. However, over the past year, this coin has still increased by about 69%.

The community also contributes

Litecoin is no stranger to "humor" on the internet. The project's social media accounts frequently use memes and witty posts to draw attention to their followers on X.

Meanwhile, Cowen jokingly said that he has "lost all his hair trying to convince Litecoin holders to switch to Bitcoin. A small price to pay for greater benefits."

Funny banter on social media is not uncommon in the crypto industry and is often enthusiastically embraced by the community.

The back-and-forth exchange has drawn attention from the community. The official social media account of Dash also commented: “Just bring out the price chart and you’ve already lost the debate.”

Cowen replied: "Dash has decreased by 99% compared to Litecoin. It's best not to interfere."

This verbal sparring has even caused some traders to change their views on LTC. Bitcoin trader Tyler Durdan wrote: “Buy Litecoin immediately.”

This development comes at a time when many asset management companies are planning to launch Litecoin ETFs in the US.

On February 6, the asset management company Grayscale filed an application with the U.S. Securities and Exchange Commission (SEC) to list shares of Grayscale Litecoin Trust as an ETP on the New York Stock Exchange (NYSE).

Just a few months ago, in October 2024, the fund management company Canary Capital also submitted a registration application for a Litecoin spot ETF to the SEC.

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