Litecoin prices traded firmly to the upside on Saturday, as rumors of Charlie Lee’s possible exit from the project was greeted positively by proponents of decentralization. The value of Litecoin rose 7.5% to $178.50, its highest level since mid-March.

With the gains, Litecoin’s market cap rose to nearly $10.1 billion, overtaking Cardano for sixth spot on the global leader board. The digital currency had dropped to seventh spot on the coin ranking list after Cardano and EOS rocketed in value.

Total trade volumes surged nearly 20% to $751 million, according to data provider CoinMarketCap. That makes LTC the sixth most actively traded digital currency on the market.

Hong Kong’s OKEx was the biggest market for LTC trades, processing roughly one quarter of the daily transactions. Coinbase’s GDAX exchange generated roughly 10% of the daily volume.

The latest uptrend came after an extended period of narrow trading that was characterized by firm resistance near $160. The recent breakout suggests the bulls are aiming for a higher target, though prices continue to trade at less than half of their historic highs. Read more from…

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