LTC/USD closed at $247.524 after placing a high of $247.524 and a low of $233.805. After falling for nine consecutive sessions, LTC/USD reversed its course, broke its bearish streak on Monday, and rebounded to near $250 level amid the prevailing positive sentiment around the crypto market.
The cryptocurrency followed the massive bullish comeback of BITCOIN on Monday, supported by the latest report from JP Morgan Chase & Co. to launch Bitcoin funds to its clients later this year. Furthermore, National Football League (NFL) player Sean Culkin said that he would transfer his entire annual salary into Bitcoin. These positive comments in favor of Bitcoin also added to the market's upward trend and pushed other cryptos like LTC higher on the board. Furthermore, the CEO of PayPal also said that the demand for cryptocurrency had surpassed the company's expected levels.
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