With rising in value over $90 per coin, Litecoin had an amazing week. Also, it achieved the highest trading volume ever on GDAX exchange.
This massive growth in volume has also coincided with Bitcoin spree, which has lifted Bitcoin’s value to its highest ever, making it worth around $5000. Such run ups have boosted confidence of investors and that can be seen in massive amounts they are putting for trade and investment.
Reasons:
There are two factors that can be linked with Litecoin’s price surge, The recent activation of SegWit in Bitcoin chain has created the real potential of cross-chain Lighting Network (LN) transactions with Litecoin, making faster and cheaper transaction possible on Litecoin Blockchain.
Second reason, the surged cryptocurrency market this week on the news that North Korea and US are regulating crypto market, is driving the growth of Litecoin, Bitcoin and other cryptocurrencies.
Cryptocurrency market has reached $170 billion mark while writing this. Crypto market is drawing attention of investors globally and we can see the results as well.
We believe that by the end of September, Coinmarket will reach new heights by crossing $200 billion mark.
Hitesh Malviya is the Founder of ItsBlockchain. He is one of the most early adopters of blockchain & cryptocurrency enthusiast in India. After being into space for a few years, he started IBC in 2016 to help other early adopters learn about the technology.
Before IBC, Hitesh has founded 4 companies in the cyber security & IT space.
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