As bitcoin price continues to hover around $8,000, some cryptocurrencies, namely Litecoin, LEO, and Binance Coin, have somewhat managed to steal the spotlight in recent days and are probably worth keeping an eye on in the short to medium term.
Top 3 Cryptocurrencies: Litecoin (LTC)
Litecoin 00 managed to outperform all top 10 cryptocurrencies by means of market capitalization in the past 24 hours. Its price touched $120 which was an increase of around 12 percent.
However, Litecoin has since re-traced and is trading at around $115 at the time of this writing. Still, that’s about 5 percent increase on the day.
Litecoin’s performance throughout 2019 has been nothing but impressive so far. Since January 1st, LTC has gained around 300 percent.
More interestingly, the recent surge comes about 58 days prior to Litecoin’s halving event. It will cut the block reward from 25 to 12.5 coins per block, which could, in theory, catalyze a further increase in the cryptocurrency’s price.
LEO is relatively new on the market. It was issued through a private sale conducted by one of the popular cryptocurrency exchanges, Bitfinex. The event sold a total of $1 billion worth of LEO at the price of 1 USDT each.
At the time of this writing, LEO is trading at around $1.70, which is an increase of about 70 percent since its private sale. The cryptocurrency currently sits at a market cap of around $1.7 billion.
On the daily chart, LEO marks an increase of around 3 percent. According to LEO’s White Paper, iFinex will be doing regular repurchases and burns of the token on a monthly basis.