Litecoin (LTC) Triggers Crypto Rally as Market Flashes Green

Marco Green
February 11, 2019

While BTC prices earlier on the trading day was locked between below and above $3400, values have risen to as much as $3690 at press time. It has pulled back to slightly lower levels in recent trading and is now hovering around the $37.80 mark. Major coins are trading with a double-digit surge against the U.S. dollar and the top-10 saw another major re-shuffle, this time from a bullish wave.

According to JPMorgan's global market strategist Nikolaos Panigirtzoglou, the crypto hype period is nearly over, prices are settling around stability, and the crypto sector will rise due to institutional players returning to the crypto realm.

Recently, the daily trading volume of Bitcoin (BTC) has been increasing significantly.

As it stands, the market's $122 billion valuation represents an 85 percent depreciation from its all-time high north of $820 billion set in January 2018. In the post, Lopp said that "the system is improving and growing".

The world's largest cryptocurrency by market capitalization, bitcoin (BTC) is also flashing green. Tradable token Ethereum increased by 2% over the past 24 hours, while ripple (XRP) rose 1% and EOS gained almost 2%.

LTC had a positive star to today's trading, with its price advancing gradually towards the $34 level. It has seen over 6% growth in the last 24 hours and is trading at $0.309818 at press time.

Bitcoin and cryptocurrency hype captured the world in 2017, with certain major coins, including Ripple's XRP, Ethereum and Litecoin, as the percentage of prices rises far beyond bitcoin. The digital currency is now changing hands at $117.3. The digital currency started the week at $107, and it kept an even trend all through the week.

Among the top twenty digital currencies in the market, the digital currency with the highest gains is Litecoin (LTC).

Litecoin LTC - provides faster transaction confirmations (2.5 minutes on average) and uses a memory-hard, scrypt-based mining proof-of-work algorithm to target the regular computers and GPUs most people already have - which are its main differentials to Bitcoin.

What is arguably the first sign of a bullish reversal for the crypto market since the turn of the year has happened within the last 24 hours, with roughly $10 billion injected into the total market cap.

Litecoin blockchain platform has traditionally played a vital role as a tester for Bitcoin, implementing potential BTC add-ons to see how successful they may or may not be.

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