The price of the Virtual Currency Litecoin has reached an all-time high of $87 per token on as of the press time, with the assistance of the solid performance of the cryptocurrency market. It is expected that the price of the digital currency can be increased beyond $100 before the end of this year.
The trading of Litecoin has reached almost $381 million in a 24-hour schedule around all the trading exchanges. It describes that Litecoin is moving towards it all-time high as Bitcoin grew beyond $9,000.
The majority of the Litecoin Trading volume was influenced by the exchanges GDAX and Bitfinex, outperforming the cryptocurrency exchange Bithumb. The trading data has also shown that there are three fiat currencies which are trading among the top three, mentioning the possibility that there will a capital which will enter the digital currency market.
Solid performance of the virtual currencies
Litecoin’s comfort upward route is just one of the positive developments in the digital currency market. In the beginning, the altcoins Bitcoin and Ethereum have posted the record increase in prices. Those were followed by the Monero and Dash, which set all-time highs in their price during trading.
The assisted strong performance of the other digital currencies amidst Bitcoin’s phenomenal rise s seen as a proof that the cryptocurrency market will experience phenomenal growth in the upcoming days. Anyhow before, when Bitcoin performed well, the other altcoins such as Litecoin were negatively affected and posted the sharp declines. This new trend shows that the altcoins are increasingly being accepted in the market.
Please have a look at below diagram, which shows the growth of Litecoin:
Future of Litecoin
The Litecoin surge is a sign that the industry players are already looking at the possibility of the cryptocurrency. This helped to push the digital currency market capitalization to more than $ 4.5 and strengthened the solid growth of Altcoin on the market. However, this can be seen if these strong days remain sustained in these days.