Litecoin hit a fresh high of $50.18 on Tuesday, but it remains below its all-time high at $80 set in December 2018.
The price of Litecoin is currently trading at $49.85, according to CoinMarketCap data. This is up from the previous day's close of $49.99, which saw a 5 percent gain over 24 hours.
Litecoin's market capitalization stands at $5.7 billion as of press time with a 24-hour trading volume of $2 billion. The cryptocurrency has gained 2 percent over the past day and 13 percent over the past week.
The cryptocurrency has been gaining momentum over the past few weeks as it is slowly starting to challenge Bitcoin’s dominance in terms of market share.
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