Litecoin (LTC) Surges 20% Higher as Bitcoin Pushes to New Yearly Highs

2020-11-17 04:30

Litecoin has been one of the best-performing assets of the past 24 hours. The long-standing cryptocurrency has gained 20% in the past 24 hours, outpacing Bitcoin’s 5% gains and Ethereum’s 3% run.

This rally comes shortly after LTC was added to PayPal’s new cryptocurrency service. Many saw this addition as validation of the cryptocurrency, which faced a strong correction after the 2017 bull market. LTC has still yet to recover to its all-time highs, though is up dramatically in the past few days and weeks alongside Bitcoin and other top coins.

Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom Litecoin Explodes Higher

LTC has gained 20% in the past day alone as buyers finally step in.

Many have taken notice of this rally. Avi Felman, the lead trader at BlockTower Capital, recently shared this chart below, writing:

“Since BTC broke 16k, and the PayPal announcement, LTC has been outperforming BTC. Is this retail coming back into the markets or traders trying to front run retail?.”

Chart of LTC's price action over the past few years against Bitcoin from TradingView.com

While Litecoin is surging right now, some don’t think the coin has long-term value. Eric Conner, an Ethereum developer and analyst, recently stated on Litecoin and other cryptocurrencies:

“Zombie chains and DeFi protocols still need a massive relative repricing. Combined MC of XRP, BCH, LTC, DOT, BNB, ADA: $33bn Combined MC of UNI, AAVE, SNX, YFI, MKR, COMP: $4bn Right…”

Related Reading: Tyler Winklevoss: A “Tsunami” of Capital Is Coming For Bitcoin Bitcoin Bullish, Boosting Alt Prospects

Bitcoin is bullish, which is boosting the prospects of altcoins such as Litecoin from here on out. Willy Woo, a prominent on-chain analyst recently commented on BTC’s prospects, referencing on-chain trends.

“Realised Price estimates the average price the market paid for their BTC. Now at its steepest slope for this cycle, meaning capital influx into #Bitcoin is at its highest rate since the last bull market. (Higher than last year’s $4k-$14k move; the current move is more organic.). For the sake of this comment I’ll define ‘organic’.”

Litecoin stands to benefit from further strength in the cryptocurrency market.

It is currently unclear if the coin will pass its previous all-time high in this cycle.

LTC also has fundamental tailwinds, including the integration of privacy technologies, that will allow LTC to separate itself from Bitcoin.

Related Reading: 3 Bitcoin On-Chain Trends Show a Macro Bull Market Is Brewing Featured Image from Shutterstock Price tags: ltcusd, ltcbtc, ltceth Charts from TradingView.com Litecoin (LTC) Surges 20% Higher as Bitcoin Pushes to New Yearly Highs

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Litecoin (LTC) на Currencies.ru

$ 86.3 (-0.15%)
Объем 24H $447.99m
Изменеия 24h: -0.79 %, 7d: 4.73 %
Cегодня L: $85.42 - H: $86.66
Капитализация $6.434b Rank 19
Цена в час новости $ 73.73 (17.05%)

litecoin past hours bitcoin gained long-standing cryptocurrency

Источник: newsbtc.com

litecoin past → Результатов: 126


Litecoin’s Charlie Lee explains Github inactivity; promises more focus on development side

It has been a monumental year for Litecoin; the silver coin improved its valuation by almost 190 percent since January and the virtual asset also completed its 2nd Litecoin halving last week. However, Litecoin was under the gun over the past few weeks after it was observed that the digital asset recorded almost zero activity […] The post Litecoin’s Charlie Lee explains Github inactivity; promises more focus on development side appeared first on AMBCrypto.

2019-8-11 16:01


Litecoin Climbs Past $100 After Successful Halving; Will the Surge Continue?

After months of hype and anticipation, Litecoin’s halving event has finally been completed and has coincided closely with an LTC price pump that allowed the cryptocurrency to surge towards $100. Despite this, Litecoin is still down significantly from its year-to-date highs, and its lackluster price performance that has occurred around the time of the halving.

2019-8-6 04:00


Litecoin’s halving might not be the ‘silver-lining’ it was meant to be

Among all the altcoins in the space, Litecoin received a lot of flak from the community recently due to the lack of technological development in its network. According to data from Github, Litecoin recorded the least activity in terms of contribution to the blockchain over the past few months and recorded its lowest level since […] The post Litecoin’s halving might not be the ‘silver-lining’ it was meant to be appeared first on AMBCrypto.

2019-8-3 17:00


Analysts Expect Ethereum to Follow Litecoin’s Lead and Skyrocket in Near Future, Here’s Why

The aggregated crypto markets have been facing an influx of bullish momentum over the past several months that is showing few signs of slowing down anytime soon. This momentum is allowing altcoins, like Ethereum (ETH), to incur strengthening technical formations that will likely allow it to surge higher in the near-future.

2019-6-15 22:30


Цена Litecoin ускоряет рост в преддверии халвинга

Четвертая по капитализации криптовалюта Litecoin (LTC) за последние сутки выросла почти на 12%. По мнению аналитиков Binance Research, важной фундаментальной причиной стремительного роста «цифрового серебра» является приближение халвинга награды за блок, который состоится через два месяца, ориентировочно 6 августа.

2019-6-7 19:06


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru