Litecoin users have had a surprisingly good week. While most cryptocurrencies and altcoins enjoyed a rise in price, Litecoin stood out with their rapid growth. With a current trading price of $65.47 per LTC, Litecoin users have never been more optimistic. However, it remains to be seen if this growth pattern will continue over the next few weeks.
It’s been a somewhat volatile week for most top 10 cryptocurrencies, including Litecoin. Initially, the Litecoin price dipped below $60, and when the price fell even more, to just under $55, Litecoin users had cause for concern.
Since the price drop, Litecoin has demonstrated some relative stability, with few additional drops or rises which would be considered noteworthy in such a volatile market. However, the past few days it has shown a definite upward trend as the price restored to above $60 and even reached as high as $66.
Over a 24 hour period, Litecoin demonstrated a growth of 10.23%. While it is impossible to know whether Litecoin will maintain this positive trend, there are some factors which suggest that Litecoin might experience more growth in the future. This includes the decision from one of South Korea’s largest exchange platforms, Coinone, to add support for Litecoin trading on its platform.
In addition to Litecoin’s growth against the dollar, the cryptocurrency also gained 6.96% on Bitcoin, which is particularly noteworthy considering the recent growth that Bitcoin has demonstrated.
Since Litecoin’s growth, the trading volumes have increased significantly. In the last 24 hours alone, over $500 million worth of Litecoin has been traded globally. The exchange platform, Bithumb accounts for the majority of the total global Litecoin volume.
With the current Litecoin trading enthusiasm, it is possible that the price could soon break the $66 barrier, and perhaps even beyond. While cryptocurrency markets are known for their volatility, it seems undoubted that this last week has been a good one for Litecoin, and that perhaps this latest growth trend is indicative of good things to come for the cryptocurrency.