Litecoin has been one of the best-performing assets of the past 24 hours. The long-standing cryptocurrency has gained 20% in the past 24 hours, outpacing Bitcoins 5% gains and Ethereums 3% run.<\/p>\n
This rally comes shortly after LTC was added to PayPals new cryptocurrency service. Many saw this addition as validation of the cryptocurrency, which faced a strong correction after the 2017 bull market. LTC has still yet to recover to its all-time highs, though is up dramatically in the past few days and weeks alongside Bitcoin and other top coins.<\/p>\n
LTC has gained 20% in the past day alone as buyers finally step in.<\/p>\n
Many have taken notice of this rally. Avi Felman, the lead trader at BlockTower Capital, recently shared this chart below, writing:<\/p>\n
Since BTC broke 16k, and the PayPal announcement, LTC has been outperforming BTC. Is this retail coming back into the markets or traders trying to front run retail?.<\/p>\n<\/p>\n
While Litecoin is surging right now, some dont think the coin has long-term value. Eric Conner, an Ethereum developer and analyst, recently stated on Litecoin and other cryptocurrencies:<\/p>\n
Zombie chains and DeFi protocols still need a massive relative repricing. Combined MC of XRP, BCH, LTC, DOT, BNB, ADA: $33bn Combined MC of UNI, AAVE, SNX, YFI, MKR, COMP: $4bn Right<\/p>\n
Bitcoin is bullish, which is boosting the prospects of altcoins such as Litecoin from here on out. Willy Woo, a prominent on-chain analyst recently commented on BTCs prospects, referencing on-chain trends.<\/p>\n
Realised Price estimates the average price the market paid for their BTC. Now at its steepest slope for this cycle, meaning capital influx into#Bitcoinis at its highest rate since the last bull market. (Higher than last years $4k-$14k move; the current move is more organic.). For the sake of this comment Ill define organic.<\/p>\n
Litecoin stands to benefit from further strength in the cryptocurrency market.<\/p>\n
It is currently unclear if the coin will pass its previous all-time high in this cycle.<\/p>\n
LTC also has fundamental tailwinds, including the integration of privacy technologies, that will allow LTC to separate itself from Bitcoin.<\/p>\n
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Litecoin (LTC) Surges 20% Higher as Bitcoin Pushes to New Yearly Highs - NewsBTC<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Litecoin has been one of the best-performing assets of the past 24 hours. Continue reading