The crypto currencies NEM and Litecoin have risen sharply. NEM has doubled in price and Litecoin has increased more than 60%. Often there have been these unnatural sudden price increases lately. Often, the respective cryptocurrency has stabilized at a much higher level, despite subsequent correction.
The price of the virtual currency NEM has long moved, similar to Ripple, sideways without any real rashes up or down. Last friday the price was just under € 0.24, whereas now it stands at € 0.41. Thus, the price increased in the short term by a whopping 100%.
Market capitalization increased from just under $ 3 billion to now $ 4.2 billion. Furthermore, NEM moves to ninth place in the largest crypto currencies (measured by market capitalization).
The Litecoin price was last friday morning at € 80.33, but has stabilized at a new all-time high of € 133.14. This increases the Litecoin price by more than 60% within just 24 hours.
At the beginning of this year, a Litecoin was worth $ 4.33, according to data from Coinmarketcap.com. All in all, we have seen an increase of 3000% since the beginning of the year for Bitcon's corked silicone.
Many critical voices in the Litecoin see the clearly better Coin compared to Bitcoin. Litecoin has a number of significant benefits:
- The Lightening Network has been successfully tested on Litecoin
- Atomic swaps were successful in a test run between Bitcoin and Litecoin
- Transactions are faster and fees lower than Bitcoin
These are just a few of the facts that speak for Litecoin. Nevertheless, it must be clearly emphasized that Bitcoin has a huge community and many other competitors are also technically much better positioned but are not yet a serious competition for Bitcoin.
As the Bitcoin price is just sinking, some investors in Altcoins such as flee the Litecoin. Whether this trend continues will show the next few days.
Thank you for reading!
Don't forget to upvote, resteem and follow me for more content & contest
Tradingview, https://www.tradingview.com/u/Tradewonk/
Instagram, https://www.instagram.com/tradewonk/
Or any of my other social media channels. Please consider getting your
free account here on Steemit.
"Join the adventure and be inspired." - Tradewonk
