News Litecoin ‘Milestone’ Trading Sends Price Over $60, Market Cap...

Litecoin ‘Milestone’ Trading Sends Price Over $60, Market Cap Hits $3 Bln

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Litecoin has hit what creator Charlie Lee has called two “milestones,” passing $60 and a $3 bln market cap for the first time.

Data from Coinmarketcap showed Sunday delivering Litecoin’s best performance in its four-year history based on Chinese and South Korean trade volumes.

At press time, its market cap had increased further to $3.2 bln, while cross-exchange prices averaged around $61.50, slightly below the all-time highs reached Sunday.

Both Lee and even mainstream media sources were keen on celebrating the success, which comes as Bitcoin follows Litecoin in activating SegWit.

Like many altcoins this year, Litecoin has benefitted from bullish sentiment on the back of its technological improvements.

12-month price performance shows a rarely-rivaled 1,300 percent increase, with one coin in September 2016 worth only around $3.75.

As SegWit activated for Bitcoin, commentators hinted the asset could be in line for a bigger jump than Bitcoin itself, the latter currently hovering around $200 below the highs reached following the event Aug. 9.

Short-term prognoses are also troubling for Bitcoin, with the community split on the implications of the SegWit2x hard fork due to occur in November.



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