It was non that long agone that many inwards the cryptocurrency community had pronounced Litecoin dead. Nevertheless, the Litecoin community stayed the class as well as refused to abandon their coin. Their persistence is paying off. The litecoin cost rose to a greater extent than than 60% this calendar week inwards anticipation of as well as next its June xix listing on BitStamp. Litecoin forthwith has EUR, USD, as well as BTC trading pairs on the platform.
As Europe’s showtime licensed bitcoin exchange, BitStamp handles a keen bargain of cryptocurrency trading volume, as well as the Litecoin community was understandably ecstatic nearly BitStamp’s decision.
Litecoin Price Gains Weight
Litecoin began the calendar week hovering inwards the $28-32 range, as well as it remained in that location until June 16, when it began to sense a profound climb. By June 17, it was trading inwards a higher house $40. On June 19, the litecoin cost briefly crossed the $50 threshold leading upwardly to litecoin trading pairs going alive but had fallen dorsum to $48.97 at the fourth dimension of writing.
7-Day Litecoin Price Chart from CoinMarketCap
This is the showtime fourth dimension litecoin has pierced the $50 grade since Nov 2013. After falling from this peak, the litecoin cost spent several years averaging below $5, as well as it held a value of $10 equally lately equally April. This way the litecoin cost has rallied to a greater extent than than 500% inwards the by 2 months.
Litecoin has a 24-hour mass of $1.276 billion, a remarkable feat considering the Litecoin marketplace cap is currently exclusively $2.5 billion. In fact, litecoin’s 24-hour mass is exclusively $67 meg less than bitcoin’s, fifty-fifty though bitcoin has a marketplace cap 17x equally large.
Litecoin currently has the 4th largest cryptocurrency marketplace cap, according to CoinMarketCap.
Vindication for Litecoin Creator Charlie Lee
BitStamp’s add-on of Litecoin back upwardly was vindication for Litecoin creator Charlie Lee, who says BitStamp was far from opened upwardly to adding Litecoin back upwardly when he showtime approached them nearly it inwards 2013. As he triumphantly posted on Twitter:
Other Factors Affecting the Litecoin Price
These are exciting times for the Litecoin community. Earlier this year, Charlie Lee spearheaded the activation of SegWit, which helped solve scalability as well as transaction malleability issues. The transition to SegWit should equally good allow Lightning Networks to live on built on travel yesteryear of Litecoin, equally Lee noted inwards a blog post explaining his vision for SegWit. This month, Lee resigned from his project equally manager of engineering at Coinbase as well as thus he could devote his total attending to Litecoin development. This is non a determination ane makes lightly, as well as thus Lee’s resignation demonstrated a theatre commitment to the increase as well as evolution of Litecoin. Both of these developments convey probable spurred investor confidence inwards Litecoin. Featured ikon from Shutterstock.