It’s already a good week for litecoin. The digital currency, which has long stood in the shadow of more preeminent crypto assets such as bitcoin and ether, reached a fresh record price Tuesday, two days after bitcoin futures opened on Cboe.
After surging to a record high of $333.34 early Tuesday, Dec. 12, litecoin traded at $328.40 by late-morning.
That’s a 121% price rally from litecoin’s closing price of $148.66 on Sunday, Dec. 10.
the cryptocurrency has gained nearly 80% in the last 24 hours. On Friday, Dec. 8, litecoin trading volume surpassed the billion benchmark for the first time since September to tally $1.5 billion in transactions in a day.
By Tuesday, trading volume surged to $7.6 billion. It seems litecoin is at least in part riding on bitcoin’s coattails.
Bitcoin’s price rallied hard last week and into this week as the promising futures market opened for business. But litecoin has one feather in its cap that bitcoin doesn’t: the currency is appreciating noticeably faster than bitcoin so far this year. Read more from thestreet.com…
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