Litecoin and Benjamin Cowen’s Playful Spat Captivates Crypto Community
A lighthearted exchange between the official social media account of cryptocurrency Litecoin and crypto influencer Benjamin Cowen has caught the attention of the wider crypto community as the weekend approaches.
On Friday, Litecoin, ranked as the 21st-largest cryptocurrency by market cap, responded to Cowen’s jibe regarding Litecoin’s (LTC) long-term price movement against Bitcoin (BTC) with the remark, “Your head reminds me of the great recession.” Cowen had quipped, “Your market cap reminds me of the great recession,” prompting Litecoin’s retort: “You could use a cap.” The banter continued, with Litecoin stating, “I call this the ‘No need for Head and Shoulders’ chart,” alluding to the well-known bearish reversal pattern.
Currently, Litecoin is down about 73% from its all-time high of $410.26 reached in May 2021 and is also 67% lower than its peak market cap of $25.89 billion, now sitting at $8.52 billion, as per CoinMarketCap.
Despite this, the cryptocurrency has experienced a rise of approximately 69% over the past year.
Litecoin is accustomed to humor in the online space; the project’s social media presence frequently utilizes memes and engaging posts to connect with its 1.2 million followers on X.
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Cowen added to the jest by mentioning that he’d lost all his “hair trying to convince Litecoiners to convert to Bitcoin,” remarking, “A small price to pay for the greater good.”
Such light-hearted social media skirmishes are not uncommon in the crypto sphere and are generally well-received by the community.
This playful exchange has captivated broader interest, with the official account of cryptocurrency Dash also joining in on the conversation, commenting, “Price chart instantly means you’ve lost the argument.”
Cowen shot back, “Dash is down 99% against Litecoin. Why don’t you sit this one out.”
The ongoing dialogue has led some traders to express increasing bullish sentiment toward Litecoin, with Bitcoin trader Tyler Durdan stating, “Buying Litecoin immediately.”
This comes as several asset management firms are preparing to launch Litecoin ETFs in the US.
On February 6, asset management firm Grayscale submitted an application to the US Securities and Exchange Commission (SEC) to list shares of the Grayscale Litecoin Trust as an exchange-traded product (ETP) on the New York Stock Exchange (NYSE) Arca.
Just a few months earlier, in October 2024, asset manager Canary Capital filed registration documents for a spot Litecoin ETF with the SEC.
