Litecoin [LTC] is back on track – Could this be a bullish break out?


At 5:00 AM UTC, Litecoin is trading at $158.38, with 3.24% growth in the price in the last 24 hours. The total market capitalization of Litecoin is about $8.92 billion at present. Earlier this week, there was a slight decrease in its daily volume. The current circulating surplus of Litecoin is about 56 million. The cryptocurrency is trading on various top exchange platforms such as OKEx, GDAX, Binance, Bitfinex, Huobi etc.

Litecoin [LTC] has decreased the block time from ten minutes to two and half minutes just by maintaining a block size of 1MB, Litecoin can confirm four times as many transactions as Bitcoin in the same interval of time thus making Litecoin faster than Bitcoin.

Litecoin has increased the number of coins which are made available to the users by 84 million while Bitcoin’s max supply is 21 million. It is being noticed that many market analysts and cryptocurrency traders are confirming that Litecoin is a quicker, cheaper alternative to Bitcoin.

1 month chart of Litecoin

1-month chart of Litecoin

After Litecoin was trading as low as $143.18 in the market, the price of Litecoin slowly started an uprise against the USD. The LTC/USD price did recover a bit and is trading around the $150 resistance area.

Marius, a Twitterati says:

“You can’t rush something you want to last forever #LTC”

Sagar Patel, a cryptocurrency enthusiast says:

“Exact. Anything that goes up too quickly, it also falls down that quickly as well. Look at btc.”

Wirex is a company which provides cryptocurrency based debit cards. They have announced that they would be completely integrating Litecoin into Wirex’s blockchain payment platform. So that debit cards would help users to make transactions and trade various altcoins into Litecoin which is also integrated with the Wirex.

CEO of Wirex, Pavel Matveev has stated that

“Wirex is  a platform which is rapidly growing because it is in their best intrests to add new services and currencies. Litecoin has got a huge potential and there is a huge community which is already using it, so there is going to have a lot of demand for this service in the market.”

Leave A Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.