Litecoin surpasses $60 in its highest daily increase in the last year

September 2020   |   by Jonathan

Litecoin was able to maintain its daily rise in this season’s upswing in the crypt coin market. In this way, Litecoin (LTC) exceeds $60, crying out for the expectations of analysts and traders.

While the crypto market continues its upward course, Litecoin doesn’t seem to want to be left behind, looking for ways to generate big profits. Well, it promises to be taking steps towards the start of a big upswing, now that LTC is above $60.

Litecoin has been a crypto currency that has had to deal with drastic drops in its price. This behavior can be seen in the graph of the day, analyzing particularly the last 3 years.

We can highlight a strong fall that made the price fall by more than 90%, when in 2018 its price fell to $23.

However, with the price rising above $60, this is the largest percentage increase in one day since August 30, 2019.

Litecoin (LTC) taking the first steps before a big rise

Litecoin exceeds $60
At the time of writing, Litecoin is trading at $63.09, which represents a daily increase of 10.30%.

This upward behavior of Litecoin’s price led to the crypto market capitalization finally exceeding $ 14.99 billion, representing 1.10% of the total crypto market.

Litecoin’s native Visa debit card launched

At the same time, its position in the ranking of cryptomonies remains within the top 10, more precisely the number 7. And, although this rise is good news for traders and investors, Litecoin has not moved up from that position in the ranking in more than a month.

This behavior shows that this upward trend in the cryptomoney market is benefiting and creating relevant moments in the prices and capitalizations of the currencies.

It is a clear sign that the interest in the Bitcoin Billionaire crypt market is constantly increasing.

The intention of creating Litecoin was to create a „light version of Bitcoin,“ and its developers have always stated that Litecoin can be seen as the „silver“ of Bitcoin’s „gold.

Could this be a sign that Litecoin could maintain that role in the cryptomoney market?