Home Bitcoin Litecoin leaping towards its $12 bn market cap

Litecoin leaping towards its $12 bn market cap

by Safdarali Rizvi

Where almost all cryptocurrencies seem to be slipping down overnight, it is clearly obvious that the market volatility isn’t going to disappear anytime soon. But its really heartening to see that even with this negative pressure there are some currencies which are still showing positive gains in spite of this negative situation. The Litecoin price, being an ideal example, as it showed a solid gain in both USD and BTC value, the Litecoin price seems to be well equipped to cross well over $215 later today.


Given that the last past few months have been quite the roller coaster ride for Litecoin, they have been doing remarkably well.
Cardano, a project concentrating on quantum-resistance, easily surpassed its market cap although it was still only half done at best but was enough to be noticed. Litecoin was quick to respond and it looks like that situation has been rectified in the past few days, as the Litecoin market cap is nearing the $12bn mark once again
Litecoin Price rigorously pushing to reach $215 again even in this difficult market and after a very steep dip a few days ago has to be credited for their growth

The Litecoin price has been quite an intriguing cryptocurrency to study about earlier in the week Litecoin price went from $215 to $245 and then crashed to $183, it is clear that market volatility won’t be coming anytime soon. Even so, there is still a lot of momentum in the market, as we see another push for LTC to reach $215 later today.

Having an $821.385m worth of trading volume in the last 24 hours itself is quite a welcoming scenario for Litecoin right now. Arguably this volume would increase moving be forward, it would be unwise to say that the overall cryptocurrency trading volume would not remain relatively low for quite a while. In the previous 24 hours, we bore witness to a trading volume of almost $15.3bn overall which given the current situation is anything but spectacular.
Based on the current scenario it looks like OKEx will continue dominating the Litecoin trading landscape As their BTC and USDT trading markets both generating well over $136m for the 24-hour volume momentarily, which clearly was ahead of GDAX. The top five list is completed by Binance and Bitfinex.This is a fascinating list as it involves two fiat currency pairs and one USDT market in the Litecoin trading markets currently, which is quite extraordinary.As of now, it would be smart for us to be patient and study how things evolve in this matter. The price momentum of Litecoin seems rather impressive for now. although we cannot give a concrete opinion yet. It is a real possibility for the Litecoin price to enjoy some more upward momentum in the upcoming hours based on recent developments, but it would take long for the situation to go in the opposite direction as well. Volatility will continue to dominate the cryptocurrency world in the near future.

It is still really early to predict whether Litecoin will be a success like top cryptocurrencies like bitcoin and Ethereum only time shall reveal that. While some people may think this is due to the Bitcoin value going up, it is actually the exact opposite. Litecoin is surging in BTC value currently with an aim to maintain its value and be certain that future gains are on the horizon. For the time being, uncertainty looms over the price of Litecoin and its potential rise before another retrace gets included on the charts. For now, This current uptrend is the direct result of a 6.13% gain in USD value.

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