Litecoin Surged 52% This Week by Riding Bitcoin Boom

While Bitcoin had a good week, Litecoin had an even better one.

Dec 19, 2020

2 min read

Litecoin is a Bitcoin spinoff.

Litecoin, the Bitcoin alternative developed by Charlie Lee, is up 52% this week; after hovering around the $75 mark seven days ago, the coin’s price has increased to $114.36 today.

LTC

-18.09%$76.37

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LTC price

The biggest gains for Litecoin, the fifth-largest cryptocurrency by market cap, came on Thursday, when the price jumped over 20%. Today, Litecoin rose a further 6.99%. Its market capitalization is $7.5 billion.

Litecoin observed a surge of renewed interest back in September thanks to Litebringer, a blockchain-based fantasy RPG game that allows players to trade in-game loot for Litecoin; daily transactions on the Litecoin blockchain shot up to around 165,000, though they’ve been slowly declining ever since.

Daily transactions jumped slightly on Thursday, however, from 58,000 to 71,000.

The wider crypto market continues to do well. Bitcoin increased by 26% this week, Ethereum rose by 17%, XRP by 14%, and Bitcoin Cash by 20%.

BTC

+0.43%$84,455.95

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The entire market capitalization for all cryptocurrencies has risen by 3.38% over the past 24 hours.

Litecoin is still a long way off from its all-time high of $375.29, but all this green can’t hurt its prospects.

If anyone has any more synonyms for “went up,” please email us at editor@decrypt.co.

Disclaimer

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

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