In early December, Litecoin was sold at a price of $ 90 and $ 100, but last Friday the price began to move: in the beginning it was $ 130. On Saturday, Litecoin made it to $ 160 for the first time, and on Sunday the price dropped below $ 125, but it was not the end.
After the bullish cryptozolite movement triggered by the start of Bitcoin futures, on Monday, all the members of the crypto currency moved to the green zone, and Litecoin became one of the leaders of this growth. At the Bitfinex exchange, the price of Litecoin reached $ 185 for the first time, with a 30% change overnight.
One third of LTC trading volumes fell on currency pairs involving USD and USDT, and another 12% traded for the Korean currency LTC / KRW.
What caused the excitement in the market?
It is assumed that a number of reasons contributed to this high-speed rally.
The first - Litecoin bought new fans from the fresh users of the Coinbase exchange, where the base of users grows by leaps and bounds. Unlike Bitcoin and Ethereum, which are also traded on Coinbase, Litecoin has much less recognition beyond the crypto community. And, strangely enough, but it is this factor, together with the lower cost, in comparison with the more famous grandees, that makes newcomers to buy Litecoin.
The second reason is that Litecoin's creator Charlie Lee was invited to several large conferences as a speaker before launching bitcoin futures, where he successfully advertised his product as a solution for daily use.
And the third reason may be leaks, which confirm the theses of Lee himself. The first - the giant of online games sales Steam stated that it will no longer accept payments in Bitcoin due to high tariffs that make its use impractical for inexpensive purchases. In turn, Bitrefill - a service for mobile phones , said that he intends to accept payment in Litecoin. After that many defenders of the Litecoin coin began to assert that other projects will follow this example in the near future.
By the time this material was published, the price of silver for the day had risen by an insane 78.35% or in dollar terms to $ 328, and daily trading volumes exceeded $ 7.6 billion. And, it seems, it's not evening yet.