Litecoin Soared By More Than 20%, Pushing Market Cap To $2.88B

The price of Litecoin soared by more than 20% in the recent period as investors gain confidence – resulting in the highest one-day percentage gain for the coin since last year. The move upwards was what pushed LTC’s market cap up to $2.88 billion which is the value at press time, adding up 1.35% of the total cryptocurrency market cap.

The Litecoin news today also show that the altcoin had traded in a range of $37 to the current $45 in the previous weeks – which marks one of the biggest increases in the price in the past couple of months. As Litecoin soared by more than 20%, we can see that the momentum is still here and over the past seven days, the cryptocurrency managed to impress many investors following a major stagnation in its value.

What started as a 0.44% move did not promise much. However, the volume of LTC being traded in the twenty-four hours to the time of writing was 4.28% of the total volume of all cryptocurrencies. The altcoin news and rumors show that LTC has traded in a range of $38.9 to the current price of $45.

However, the cryptocurrency is still down by a lot from the LTC all-time high. The current momentum is solid which is why many analysts predict that LTC may visit $50 soon. The fact that Litecoin soared as one of the most impressive altcoins lately is also one that shows us that altcoins are regaining their confidence in the current market.

Speaking of, some of the best performers today include Ripple’s XRP token, which is now at $0.2109 with an 8% increase – and Bitcoin Cash (BCH) which surged by around 5.40% on the day, reaching a price of 6.
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The Stellar news also show impressive gains made by XLM which increased by 7% overnight to a price of $0.0484 in the latest updates. The only loser in the top 20 remains Cosmos’ ATOM which lost 4% overnight and is now at $4.10.

Right now, the market is in a strong swing and as Litecoin soared high in the past few days, we can see an obvious repetition. The resistance for LTC is at $50 while the support is now at $37 as the pair is preparing for new moves.