Litecoin surpassed $250 today, reached their highest in more than a month. (Photo by Chesnot/Getty Images) Litecoin rallied today, climbing to its highest in more than a month following the Litecoin Cash hard fork that took place on Sunday. The alternative protocol asset’s (altcoin) price rose to as much as $253.90, according to CoinMarketCap.
At this point, Litecoin was up roughly 16.8% over the last 24 hours and more than 135% from the recent low it hit on February 6, additional CoinMarketCap figures show. This was also the first time that Litecoin reached $250 since mid-January.
[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.] Litecoin has been experiencing tailwinds lately, pushing higher as traders piled in to the digital currency in anticipation of the hard fork, which rewarded those holding Litecoin with units of the newly created Litecoin Cash.
This new cryptocurrency is similar to Litecoin, but with a few minor adjustments. Litecoin Cash came in to existence on February 18, more than six months after Bitcoin Cash – a fork of Bitcoin – was created.
Both of these newly created digital currencies appear to have drawn substantial interest from investors, with Bitcoin Cash repeatedly ranking as one of the top five cryptocurrencies by market capitalization (market cap) on CoinMarketCap. Several analysts weighed in on what digital currencies created from hard forks mean for the broader space. Read more from forbes.com…
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