Litecoin (LTC) Price Skyrockets to 16-Month High of $4B as Adoption Grows

Litecoin (LTC) saw a sharp increase in activity on the series, reaching a 16-month high of almost $4 billion in intraday trading volume

Litecoin (LTC) activity on the series saw a sharp increase, reaching a 16-month high of almost $4 billion in intraday trading volume, according to Sentiment data. The increase reflects public interest there is a growing awareness of the cryptocurrency, driven by new policy initiatives and the growth of the Litecoin ecosystem.

As Litecoin continues to gain traction, it has successfully broken past the $70 mark, now targeting the $100 psychological level. Currently, LTC is trading at $74.31 with a market cap of $5.45 billion.

The recent rally in the crypto market has been bolstered by Bitcoin’s momentary leap to around $68,000, which has contributed to Litecoin’s upward momentum. Over the past week, Bitcoin has seen a 12% increase, while Litecoin has surged by 10.64%.

Since its inception in 2011, Litecoin has remained a key player in the crypto market, often referred to as the “silver” to Bitcoin’s “gold.” With a market capitalization of nearly $5.43 billion, Litecoin currently ranks as the 20th highest cryptocurrency. The recent price action marks a notable breakout, with LTC rising above $73, a level not seen since July.

As Litecoin crosses key transaction milestones, it is increasingly being adopted by payment gateways, which is contributing to its higher on-chain activity. The recent integration of Litecoin into more global payment systems has made it more accessible, leading to increased usage and awareness.

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