Litecoin has had a positive development in its price this week, growing up to 236% since December 5. Now it hit a new All-Time High by piercing the $ 300 barrier, quoting its USD / LTC exchange rate at $ 341.72 at 14:29 UTC yesterday, December 12th.
According to CoinMarketCap, the cryptocurrency created by Charlie Lee gained some fuel today when, at 10:39 UTC, began a bull run that hasn’t stopped since then, breaking through the aforementioned barrier and going up with almost no resistance. As of today, its market cap quoted at 17 bln dollars, surpassing that of Ripple and IOTA, thus achieving the 4th place in the ranking of world’s largest cryptocurrencies. Regarding transactions volume in the last 24 hours, the LTC has moved 6 bln dollars.
People starting to realize LTC’s potential
This bullish behavior has some reasons behind – apart from the impact it has Bitcoin futures market launching three days ago – like its creator appearing in an interview hosted by news program Squawk Alley, in American TV channel CNBC, where he talked about bitcoin futures and briefly pointed people to use Litecoin as a payment tool, as Satoshi’s coin has been working more like a store-of-value.
Lee has been holding this criterion for quite a long time, but the opportunity to reach a wider audience via USA’s second biggest channel in terms of rating, is a key factor regarding its recent trend.
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