As what they say, Litecoin is the silver to Bitcoin's Gold and they are indeed right. While Bitcoin has shown tremendous increase in market value and capitalization, Litecoin also has a happy story of its own. Litecoin reached a new-all time high of $370+, a 4000% increase as compared to the start of the year.
Many analysts suggest that the increase in market price was heavily attributed to the release of the Bitcoin Future and due to the current market interest surge and popularity of digital currencies. Also, the increase in Litecoin was paralleled to the on-going market rally of Bitcoin considering that both coins has similar movements in terms of prices and volumes.
Based on the latest data from Coinbase, Litecoin increased by almost $266 as compared last month, a whopping 434% increase. Many investors should have reported tremendous gains if they happen to hold Litecoin for a longer time. Also, many believed that Litecoin may even pass the $500+ mark before the year ends.
As a result of the positive rally in the past few days and weeks, Litecoin's market capitalization had greatly increased to $16.6 billion and is now the fifth highest cryptocurrency in terms of market capitalization. When Litecoin reached its $360+ market price, it was the fourth currency with the highest market capitalization behind Bitcoin Cash.
Let's just see what Litecoin has instored for us. Will it continue and maintain its rally or will it stumble back as what happened a few years ago?
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