Litecoin spikes 25%: What’s behind the sudden surge?

2023-7-1 00:22

Litecoin has seen a remarkable rise in its value in the recent trading day. The digital currency spiked to $105, a noteworthy increase of 24.6% within the last 24 hours. At this juncture, the sharp increase in Litecoin’s valuation does not appear to be linked to any particular event or news release.

Litecoin was officially listed as a tradable cryptocurrency for users of EDX Markets on June 20, 2023. Litecoin experienced a boost during its first three days of trading on EDX, with its price climbing from $77 to $91. The price dipped slightly after this initial rise, but the surge we see today is significantly steeper, with no apparent cause identified as of yet by media or analysts.

One potential factor contributing to this surge is the recent exemption of Litecoin from the SEC’s list of tokens classified as “unregistered securities”. Litecoin is a derivative of Bitcoin and operates on a proof-of-work blockchain, so it is improbable to be regarded as a security, which might be causing an uptick in market sentiment.

Litecoin (LTC) is a digital currency that came into existence in 2011 as a fork from the original Bitcoin blockchain. Its creation aimed to counter concerns that Bitcoin was becoming excessively centralized and prevent large-scale mining operations from monopolizing the mining process. While the coin has not entirely thwarted large corporations from dominating crypto mining, it has successfully repositioned itself as a cryptocurrency that individual miners can mine and as a viable system for peer-to-peer payments.

Litecoin was conceived by Charlie Lee, an ex-Google engineer, in 2009, two years after the advent of Bitcoin. Litecoin’s stated mission is to serve as a medium for daily transactions and to offer a faster transaction processing time compared to its predecessor, Bitcoin.

Today, Litecoin’s market capitalization is an impressive $7.74 billion, with a circulating supply of 73.26 million LTC. The digital currency’s maximum supply is set at 84 million LTC. The volume of Litecoin traded in the last 24 hours has reached $3.19 billion, and the cryptocurrency has recorded a change of 15.19% over the past week. Litecoin’s price fluctuated between $84.300 and $111.260 in today’s trading.

The post Litecoin spikes 25%: What’s behind the sudden surge? appeared first on CryptoSlate.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Litecoin (LTC) на Currencies.ru

$ 81.11 (+0.21%)
Объем 24H $336.95m
Изменеия 24h: 2.59 %, 7d: -0.88 %
Cегодня L: $78.36 - H: $81.16
Капитализация $6.045b Rank 19
Цена в час новости $ 107.7 (-24.69%)

litecoin increase juncture hours within release sharp

Источник: cryptoslate.com

litecoin increase → Результатов: 126


Huobi Token, Curve, and Litecoin among the weekly top gainers, but Oryen Network tops the list with 250% Increase during ICO

In the last quarter of 2022 crypto market experienced insane volatility. During this crypto winter period, investors fell short of worthwhile DeFi projects to pump money into it. However, on the 2nd of November, 2022, a new crypto gem called Oryen emerged, now giving early holders the highest return that has been witnessed for a […] The post Huobi Token, Curve, and Litecoin among the weekly top gainers, but Oryen Network tops the list with 250% Increase during ICO appeared first on NullTX.

2022-12-7 06:01


Фото:

Litecoin Shows Signs of Life After a Long Decrease

Both LTC/USD and LTC/BTC have broken out from descending resistance lines and are targeting the closest resistance levels. The breakout from the current descending resistance line was noted by cryptocurrency trader @Mesawine1, who tweeted an image showing the breakout and predicting that the price could increase all the way to the next resistance area at […] The post Litecoin Shows Signs of Life After a Long Decrease appeared first on BeInCrypto.

2020-6-2 20:51


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Ethereum Memecoin $PEPE Surges As Whales Accumulate Profits

The Ethereum memecoin $PEPE has seen a remarkable surge, hitting an all-time high of $0.00001127 today with a market cap surpassing $4.5 billion.  This represents a significant gain of over 11% for the day and 32% over the past 7 days, making it the second largest crypto memecoin in the […]

Whales Continue To Accumulate $FRIEND Despite Price Decline

Despite experiencing a 7% decline in value today, the cryptocurrency token $FRIEND is witnessing increased accumulation by whales, signaling growing investor interest in the project. This trend is evident as on-chain data reveals notable inflows into the $FRIEND ecosystem.