The company reportedly added 174,000 chips to its Litecoan stock last month. This delivery brought the total number of altcoin farms to 1.44 million. Following this acquisition, which represents 80% of all Litecoins produced last month, the total value of Grayscale’s Altcoin assets now stands at just over $248 million.

However, following the large-scale acquisition of Grayscale Investments, LTC price trends appear to be unrelated to the change in supply dynamics. Messari’s data shows, for example, that altcoin was only used from the 12th to the 22nd. February passed the $200 mark. Since then, however, the price has fallen back to levels below $200, with the only exception being the 25th. February. At the time of writing, the token is trading at just over $190.

At the same time, some users on Twitter are questioning Altcoin’s inability to pump after Grayscale’s massive purchase. For example, one Twitter user, Carolyn Bamberger, asked why the price hasn’t gone up. In response, the Litcoin team said

These large orders are generally bought over-the-counter so as not to affect the market immediately. Some suggest that this may delay nutritional shock.

However, other users are not convinced by this statement, while some proponents believe that a price increase is imminent.

At the same time, Grayscale added over 243,000 ETH in the same period, according to the Litecoin team. This addition means that the grey scale has become the scale of 1. March 2020 had a total of 3.17 million ETH tokens, accounting for about $4.86 billion.

On the other hand, only 7,169 BTCs were added to Grayscale’s largest holdings, bringing the total cryptocurrency to over 655,640 bitcoins.

What do you think of Grayscale’s purchase of LTC? Tell us what you think in the comments below.

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