Hitting Over $2 Bln Market Cap, Litecoin Stole Crypto Show Last Week

The global cryptocurrency community was panic stricken for the most part of the past week. A depression that has been nicknamed by Cointelegraph as the "crypto massacre" saw almost every virtual currency bleeding profusely.

It was a doomsday of sorts, and many attributed the gloom to a couple of issues. Some said the Bitcoin scaling debate was to blame for the mass slump of cryptos. Another theory attributed it to DDoS attacks currently affecting Bitcoin exchanges.However, the most intriguing movement came with Litecoin. In fact, the SegWit pacesetter jumped three places to be the world's number four crypto on Saturday. In the process, it pushed aside IOTA, NEM and Ethereum Classic, when just last Wednesday it was ranked seventh.First, they successfully activated SegWit and statements from the team indicated that there has yet to be a blemish. Then, the Chinese government lifted its ban on the withdrawal of Litecoin and Satoshis at exchanges. Finally, the community became aware with bliss of Charlie Lee's resignation from Coinbase to concentrate fully on his brainchild.http://cointelegraph.us3.list-manage2.com/track/click?u=2c088712615955cd2f82aa968&id=b786709805&e=140f57b3eb