Litecoin Reaches Record High, Crosses $100

Litecoin has achieved another record-breaking high touching base at 100 dollars on November the 29th in some exchanges. This value uprising is in accordance with the cryptocurrency market. This year has been an exceptional one for both cryptocurrencies and Litecoin.

Litecoin is Aligned with the Market

Litecoin
credit: coinmarketcap

At the start of the year, the market capitalization was simply 17 billion dollars, while now it has come to $300 billion. The volume has likewise been expanding and it is relied upon to continue progressing in the future. The value of Litecoin left from $4.65 behind to $100 since the first month of 2017.

That implies that this digital currency grew more than 1,900%.

Unlike Bitcoin, Litecoin did not grow steeply as it is not pumped or promoted. Charlie Lee; the developer of Litecoin gave careful consideration to the Bitcoin wars. In any case, it appears the cryptocurrency remains rather firmly paired with Bitcoin.

It is intriguing to see that, some time recently, Bitcoin was the most loved digital currency in the market. Now, and during the most recent months, different currencies grew in terms of the market cap and their value. The market is getting huge and aggressive to see which digital money offers the best traits.

The Growth of Litecoin

During the last 24 hours, the cryptocurrency has overseen 505 million dollars’ volume and the market capitalization touched base at $5.52 billion. Today, Litecoin has overseen more than 40K transactions when compared to Bitcoin 379K.

The greatest benefit of this cryptocurrency is that it offers quick transactions, that too at a low fee. The transaction fee ranges from $0.05 to $0.2. The case is entirely different for Bitcoin. As the fee varies from $2 to $20 per transaction. And the confirmations take a lot of time. Which means the transactions are very slow on Bitcoin network.

Further Expansion Plans

The Litecoin community could be rejoiced, as a few weeks back, Charlie Lee announced that he initiated a cross-chain atomic swap between Bitcoin and Litecoin. Apart from this, he also mentioned a swap between Litecoin and Vertcoin.

This cryptocurrency is pet named asΒ  β€œsilver to Bitcoin gold,” in the community. And has a huge developer network that develops various alteration to the network. Some experts believe that this cryptocurrency could be used as a testing platform for Bitcoin. The major reason is that both these have very similar blockchain traits.

 

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