Just when the crypto market is recovering from the Bitcoin drama these past few days, Litecoin is gearing up toward a massive price surge. Barely 24 hours have passed since Bitcoin cooled down, Litecoin is almost reaching an unprecedented 100 percent price increase. Isn’t that amazing?
Litecoin’s price surge will be beneficial
The price of this digital currency is rapidly approaching the $200 USD mark, which will make LTC the sixth largest market cap of close to $9 Billion.
A Twitter user named Charlie Lee recently said: “LTC volume on @GDAX over 3M, which is more than $400MM worth of litecoins traded. This means Litecoin has made Coinbase more than $1MM in revenue today from GDAX alone!”
These past few weeks there were concerns about BitCash almost displacing Bitcoin as the leading crypcurrency in the market. If this new Litecoin trend is anything to go by, the whole story might be changing soon. Litecoin’s market cap might just be potentially eclipsing that of BCH.
The Litecoin-Bitcoin relationship
Today, Bitcoin is the world’s largest, and most popular digital currency. But over the years, Litecoin has always played a very important role in Bitcoin’s current status.
Litecoin has been some sort of a tester for Bitcoin, helping in the implementation of BTC additions in a more controlled environment. This has helped to foresee Bitcoin’s success as we now have it.
In creating Litcoin, Charlie Lee maintained from the onset, a supportive attitude toward Bitcoin.
Will the role Litecoin play in Bitcoin’s growth ever be forgotten? Will it one day become irrelevant? Hardly!