This past week alone, litecoin has recorded a 120% growth in price. It’s trading volumes have also surged past the 1 billion mark of transactions per day.

This is no mean feat for the cryptocurrency underdog which has been lurking in the shadows of the great bitcoin for quite a long time. Speculators said that litecoin could soon be the payment method for bitcoin. That is if bitcoin prices continue to soar making it impossible to make smaller payments using bitcoin.

With this speculation, the sharp rise in litecoin prices could be closely linked to the bitcoin futures launch by CBOE that happened last Sunday.

Things are Going Smoothly for Litecoin

In comparison to its rival bitcoin, litecoin boasts of a couple of superior advantages. Transaction speed is one of them. Litecoin has also displayed a greater stability than bitcoin in 2017. While bitcoin has recorded a growth of 1500% in market capitalization, litecoin has quadrupled this growth to achieve 6000% growth in 2017.

Lastly, bitcoin’s super high purchase price makes it unappealing to many young investors. This gives litecoin which is 56 times cheaper a competitive advantage over bitcoin.

Better Prospects for Litecoin in 2018

Unqualified sources stated that CBOE is looking to open up the futures market for other crypto assets. Litecoin is on the list after the market leaders, bitcoin and ethereum. If this is true, we are likely to witness an even greater surge in market prices of litecoin in 2018.

Looking at how litecoin prices have soared in comparison to bitcoin this year, it is definitely one crypto asset to look out for in 2018!

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My name is Michael, a writer and crypto analyst. I am a regular crypto news writer at various cryptocurrency sites. You can contact me at [email protected]