Today may prove to be a very interesting day for the cryptocurrency industry as a whole. Many currencies are back in the green, although the overall momentum remains very fragile. The price of Litecoin is going through a very positive period at this time, given that its value has again exceeded $ 60.5
The price of Litecoin becomes bullish
It is rather unexpected to see the price of Litecoin soar spectacularly in the last 24 hours. Although this is an altcoin that relies heavily on Bitcoin's momentum – just like any other altcoin – it's still an interesting trend that is worth keeping an eye on today. If this momentum remains in place for more than a few hours, the markets will undergo some major changes.
For Litecoin price observers, these last 24 hours have resulted in an unexpected moment. This solid 7,02% increase in the last 24 hours is quite spectacular, although this is a crucial period for Litecoin. Nonetheless, there is no guarantee of maintaining this momentum for the foreseeable future, since anything can happen in the cryptocurrency sector.
There is also an interesting development in the LTC / BTC report in the last 24 hours. More specifically, Litecoin has gained an astonishing 3.47% compared to Bitcoin, which is a more than welcome turn for this particular altcoin. Even so, only normal altcoins will be increasing once Bitcoin stops bleeding.
Thanks to these gains, the community is still looking at a Litecoin price of $ 60.55. This is facilitated by a continuous increase in the volume of trade LTC which currently stands at $ 256.9 million. Compared to most other altcoins, this is far ahead of the package, although there is still plenty of room for improvement. Reaching further progress will be difficult once the next week comes, however.
As things stand now, OKEx is the "go-to" exchange for buying and selling Litecoin. The BTC pair is ahead, slightly ahead of the DOBI Trade BTC market. OKEx claims the third place with a USDT pair, followed by similar markets offered by CoinBene – albeit excluded from the volume – and by Huobi. Coinbase Pro is the first and only fiat currency support for Litecoin in sixth place.
As always in the world of cryptocurrency, it remains to be seen what the future will be for the Litecoin price. This current trend can be eroded fairly quickly in the coming hours and days, although there is no real reason for cryptocurrency markets to see any real negative changes in the near future. That does not mean it will not happen, though.