The crypto-market exhibited a green wave after an emphatic recovery from the bearish market. LTC emerged as the second-best performer on CoinMarketCap after it rallied by over 8%. The latest hike resulted in the fourth largest cryptocurrency surging beyond the $60-mark.
The coin opened at $59 on 16 March, reaching a high of $62 during the earlier part of the day. At press time, the hike had pushed the market cap of LTC to $3.77 billion and the price to $61.96. The trading volume registered by Litecoin stood at $2.15 billion, with a major hike of 8.60% over the past 24 hours and 7.18% over the past seven days.
At press time, LTC’s price movement over the past hour exhibited a minor surge of 1.02%.
The current surge came after a 14% surge was recorded in the second week of February, catapulting Litecoin beyond the $50-mark. The double-digit surge in February was attributed to the Foundation’s implementation of a blockchain-based privacy protocol, Mimblewimble, via Extension Blocks on Litecoin to enhance the coin’s scalability.
A massive amount of the coin’s 24-hour trade volume was via the trading pair LTC/BTC. Coineal accounted for 10.79% of the trading volume, followed by DigiFinex, which held 6.20% of the total volume.
Chayanika holds a Journalism degree and is currently working with AMBCrypto. She is inquisitive about everything that the Blockchain Technology has to offer.