Maltese cryptocurrency exchange OKEx has issued a cryptic message on social media in regards to an upcoming Litecoin event.
In an official press release shared with Coin Rivet, OKEx states “it is about time to light up the market” amid the recent cryptocurrency market recovery.
OKEx is confirmed to be co-organising the LTC Blockchain Technology Seminar Summit in Wuhan, China scheduled for June 1.
Further announcements are being planned over the coming days, while OKEx’s Head of Operations Brad Laurie tweeted: “There are millions of possibilities in crypto. Guess what is going to happen on @OKEx next?”
Litecoin founder Charlie Lee recently revealed that the upcoming halvening could see price exceed $1,000.
The halvening will see the block reward for miners reduced from 25 to 12.5 coins. Historically, cryptocurrencies like Bitcoin have rallied significantly on the back of halvening events.
Speculation on social media has suggested that OKEx’s planned event will tie in with Litecoin’s halvening, although this remains unconfirmed.
Litecoin has been one of the top performing cryptocurrencies in 2019, rallying 336% since the December low of $20.
While the $100 level remains a key point of psychological resistance, upside targets to consider are $128 and $163.
Litecoin is currently the sixth largest cryptocurrency with a market cap of $5.5 billion and an average trade volume of $3.4 billion.
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