Litecoin LTC Makes Significant Progress, Moves Higher By Over 15% Against the USD. The entire cryptocurrency market has been on fire for the last four days and Litecoin is one of the leading gainers.
At the time of writing, the price of Litecoin LTC was $55.77. It was up by 4.15% against the USD and up by 2.85% against Bitcoin BTC. The trading volume over a 24 hour period is $3,147,086,616 and the market capitalization is $3,632,565,189. Meanwhile, Bitcoin BTC has successfully crossed the $11k level. We should expect the market to correct lower after a few hours or days of trading. A healthy pullback is normal and it doesn’t always mean that the bull run is over.
Toward the end of trading yesterday, the Litecoin LTC token was up by more than 9% against the USD and Bitcoin BTC. It was outperforming Bitcoin by more than 6% and was doing better than most of the token on CoinMarketCap.
This isn’t something you see every day but Litecoin LTC was the best performing token out of the top 60 on CoinMarketCap. It started moving higher on Saturday while Bitcoin and the rest of the market started moving higher on Sunday. Bitcoin was only able to break through the $11k level yesterday after the bulls took complete control of the market.
It is important to note that this isn’t the first time Litecoin is leading the Bitcoin bull run. A similar thing happened in January. In April the famous cryptocurrency analyst, Willy Woo predicted that the price of Bitcoin BTC will break above the $10000 and higher if Litecoin LTC leads Bitcoin in the bull run. Woo said that Litecoin has developed a habit of leading Bitcoin BTC. It’s not clear how long the current bull rally will last for Litecoin or any other token.
Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.
- Litecoin LTC Outperforms Bitcoin BTC as it Records Higher Highs Against the USD
- How Long Will the Uptrend Last for Litecoin LTC?
Litecoin LTC has been one of the worst-performing cryptocurrencies for far too long. The token is down by more than 95% from its all-time high but it still gets its good days from time to time. Over the last 72 hours, for example, the price of Litecoin LTC has been moving higher against the USD and Bitcoin.
While the rest of the market is also enjoying the bullish momentum, it is important to note that Litecoin is currently outpacing Bitcoin BTC. While the current price action of the XRP token is noteworthy. It is no guarantee that the token will maintain this surge against the USD long-term or even mid-term.
