Litecoin managed to maintain its daily rise in this rising season in the cryptocurrency market. In this way, Litecoin (LTC) surpasses $ 60, crying out for the expectations of analysts and traders.
As the crypto market continues its bullish course, Litecoin does not seem to want to be left behind, looking to head for big profits. Well, it promises to be taking the steps to start a big rally, now that LTC is over $ 60.
Litecoin has been a cryptocurrency that has had to deal with drastic drops in its price. This behavior can be observed in the chart of the day, analyzing particularly the last 3 years.
It can be highlighted a strong fall that made the price fall by more than 90%, when in 2018 its price fell to $ 23.
However, with its price rise exceeding $ 60, this is the largest percentage increase in one day since August 30, 2019.
Litecoin exceeds $ 60
At the time of writing, Litecoin is trading at $ 63.09, which is a daily rise of 10.30%.
This bullish behavior of the price of Litecoin led to the market capitalization of the cryptocurrency finally exceeding $ 14.99 billion, representing 1.10% of the total crypto market.
In turn, its position in the ranking of cryptocurrencies remains within the top 10, more precisely the number 7 position. And, although this rise is good news for traders and investors, Litecoin has not risen from that position in the ranking in more than a month.
This behavior shows that this upward trend in the cryptocurrency market is benefiting and creating relevant moments in the prices and capitalizations of the coins.
Being a clear sign that interest in the crypto market is constantly increasing.
The intention of creating Litecoin was for the purpose of a «light version of Bitcoin“, And its developers have always stated that Litecoin can be seen as the ‘silver’ of Bitcoin’s ‘gold’.
Is this a sign that Litecoin could maintain that role in the cryptocurrency market?