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Litecoin (LTC) price has started to see significant growth recently and the coin is currently at its 9 month high.
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After joining the new Bitcoin-led rally, LTC managed to outperform Bitcoin Cash and take its place.
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Currently the sixth largest cryptocurrency, LTC is priced at $ 73 and a market cap of $ 4.84 billion.
The cryptocurrency industry is currently participating in a powerful new rally, which has taken Bitcoin over $ 18k for the first time since the beginning of 2018. Meanwhile, Litecoin (LTC) – from Bitcoin’s silver to gold – has outperformed. Bitcoin Cash and ranked sixth – the largest crypto by market cap.
Litecoin surpasses Bitcoin Cash and earns a higher rank
Litecoin reached its 9-month high, with a price tag of $ 75.7. The coin is rapidly approaching its high point in 2020, which it reached in mid-February. At the time of writing, LTC is undergoing a small correction which has brought its price down to $ 73.34. However, the price is still 1.49% higher than 24 hours ago and the coin has risen 24.18% over the past 7 days.
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Currently, the market cap of LTC stands at $ 4.84 billion, while Bitcoin Cash (BCH) sits in 7th place with a market cap of $ 4.59 billion.
While LTC’s performance is quite commendable, it’s also worth noting that BCH recently underwent a hard fork. The hard fork led to the creation of Bitcoin Cash Node (BCHN) and Bitcoin Cash ABC (BCH ABC), and Roger Ver commented that a fork in this way may have prevented PayPal from adding BCH support.
Litecoin picks up the pace and recovers from September lows
Many in the cryptocurrency industry are quite pleased to see Litecoin perform better than BCH, especially since the coin has started to lag behind major cryptocurrencies in recent years. Once referred to as Bitcoin’s silver for gold, LTC’s market cap is currently over 60 times smaller than that of BTC.
In September, the price of the coin dropped to nearly $ 40, although it started to rise following the October 21 announcement by PayPal, which revealed that LTC will be one of the few coins the payment giant will list on its platform. .
With Bitcoin (BTC) once again leading what appears to be a major rally, Litecoin appears to finally be back in the game and is following BTC’s lead.
