A playful spat between the official social media account of cryptocurrency Litecoin and crypto influencer Benjamin Cowen has grabbed the attention of the broader crypto community heading into the weekend.
“Your head reminds me of the great recession,” Litecoin, the 21st-largest cryptocurrency by market cap, said in an X post on Friday, firing back at crypto influencer Benjamin Cowen after he poked fun at Litecoin’s (LTC) long-term price action against Bitcoin (BTC) with the caption “the quiet part.”
Cowen said, “Your market cap reminds me of the great recession.” Litecoin responded, “You could use a cap.” The jokes kept rolling. Litecoin said, “I call this the ‘No need for Head and Shoulders’ chart,” referencing the popular bearish reversal pattern.
Source: Benjamin Cowen
Litecoin is down approximately 73% from its May 2021 all-time high of $410.26 and 67% down from its $25.89 billion market cap peak, now at $8.52 billion, according to CoinMarketCap.
However, the cryptocurrency has climbed roughly 69% over the past year.
The wider community joined in on the banter
Litecoin is no stranger to humor online; the project’s social media account often leans into memes and playful posts to engage its 1.2 million X followers.
Cowen, meanwhile, joked that he’d lost all his “hair trying to convince Litecoiners to convert to Bitcoin.” “A small price to pay for the greater good,” he added.
Light-hearted social media feuds are common in the crypto industry and are usually enjoyed by the community.
The back-and-forth social exchange captured the interest of the broader community, with the official social media account of cryptocurrency Dash also chiming in, commenting, “Price chart instantly means you’ve lost the argument.”
Source: Dash
Cowen responded, “Dash is down 99% against Litecoin. Why don’t you sit this one out.”
The exchange led to some traders changing their tone on LTC
The ongoing exchange led some traders to suggest they were becoming more bullish on the asset. Bitcoin trader Tyler Durdan said, “Buying Litecoin immediately.”
It comes as several asset management firms intend to launch Litecoin ETFs in the US.
On Feb. 6, asset management firm Grayscale applied 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 prior, in October 2024, asset manager Canary Capital filed registration documents for a spot Litecoin ETF with the SEC.
