This website uses cookies to ensure you get the best experience on our website
Join us on Telegram for FREE daily market updates!

Blog

Date:
18th Nov 2020
Author:
CryptoAltum Research Team

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.


Details: 

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.


More market updates on our Blog 


Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.
  • Copyright Excel Innovations Ltd (CryptoAltum) 2020