Litecoin Flips Bitcoin Cash to Sixth, Adds 26% in One Week
Boasting a market cap of $4.823 billion, Litecoin (LTC) is now more valuable than Chainlink (LINK) and Bitcoin Cash (BCH) but trailing Tether (USDT)--the world’s leading stable coin perched at fifth. The coin is up 26%, outperforming both BTC and ETH, adding 8% and 18%, respectively.
After the October lull, the Litecoin price is now on a tear. Explaining this newfound fortune are project’s related developments in the last few months. Notably, BTC and LTC have a direct correlation. Therefore, the Bitcoin price of the last two months had a positive effect on LTC prices. LTC has been integrated with gaming because of its throughput and low network fees and has privacy features after mimblewimble integration. Additionally, PayPal now supports direct buying and selling of LTC coins.
Impact on the LTC Price:
Bullish.The rally of last week will trigger more demand for Bitcoin's silver. At this pace, prices may rally, printing new 2020 highs.
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