Flash excursion: Litecoin [LTC] increases by 4.80% in one hour, shows significant growth in the bear market

litecoin [LTC], the seventh largest coin of CoinMarketCap, has changed position in recent weeks. However, after a long bearish trend, the bull takes sides on the side of a coin and leads it towards the green pastures. The currency recorded an amazing growth of 4.80% in just one hour, at the time of printing.

Source: CoinMarketCap

According to CoinMarketCap, the LTC was valued at $ 27.48, with a market capitalization of $ 1.6 billion. The 24-hour trade volume of the currency was noted to be $ 448 million, with a growth of 6.40% over 24 hours. LTC has recorded an overall growth of 8.48% compared to last week.

Source: trading view

The DOBI trade recorded the maximum trading volume of $ 67 million on the LTC / BTC pair. The Dobi trade was followed by EXX, with a trading volume of $ 43 million with LTC / USDT pair. In third place was OKEx, which posted a volume of $ 29 million with LTC / USDT.

The wave of the coin arrived after Atulya Sarin, a professor at the University of Santa Clara, said that:

"It's like when the sun is setting and it's that eight-minute period before it goes dark." Litecoin is in his seventh minute. "

LTC behaved rather well than other cryptocurrencies and the success of the currency is linked to the announcement of CoinGate which aimed at developing the long-awaited Lightning network.

Even Charlie Lee, the creator of LTC, was recently in the news when the currency passed BCH for a short time. Lee had predicted that the "flapping" of LTC> BCH would happen this year, and when it did, the LTC community expressed its joy through various gifs.

Lee also tweeted on merchants who accepted payment to Lightning Network. He tweeted saying:

"Even Litecoin will soon have more than 1000 merchants accepting LN payments! Thank you @CoinGatecom! "

Flappening.watch reported that LTC had a market capitalization of $ 5 billion higher than BCH and had 384% more active addresses, 340% more transactions per day and 288% more in the volume of exchanges. CoinMarketCap reflected this change in the ranking of the two coins with LTC in seventh place.

The currency is strong in seventh position and seems to grow gradually in this bear market.