Litecoin has reached a new all time high arriving at $100 dollars on November the 29th in some exchanges. This price uprising is in line with the cryptocurrency market in general. This year has been an incredible one for cryptocurrencies and Litecoin is not the exception.
Litecoin is in Line with the Market
At the beginning of the year, the cryptocurrency market capitalization was just $17 billion dollars, while now it has reached $300 billion. The volume has also been increasing and it is expected to keep growing in the near future. Litecoin price passed from $4.65 up to $100 dollars since January. That means that this virtual currency has grown more than 1,900 percent.
And now LTC $100!!! 🎉🚀 https://t.co/TIXF9M8Rp4
— Charlie Lee [LTC] (@SatoshiLite) November 29, 2017
It is interesting to see that, before, Bitcoin was the favorite cryptocurrency in the market. Now, and since some months, other currencies have been growing in market capitalization and price. The market is getting bigger and competitive to see which cryptocurrency offers the best attributes.
Ethereum has crossed $400 dollars. This year it has increased around 5,000 percent. Dash has also experienced a great year crossing $600 dollars. At the same time, Bitcoin is has arrived at $10,000 dollars’ goal where it could find a strong resistance level.
Litecoin Keeps Growing
In the last 24 hours, Litecoin has managed $505 million dollars’ volume and the market capitalization arrived at $5.52 billion. In the last 24 hours, the virtual currency has increased 5.53 percent at press time. On November the 27th, Litecoin has managed more than 40K transactions and Bitcoin 379K.
A clear advantage that Litecoin shows is that it offers fast and low fee transaction. Litecoin offers transactions with fees that go between $0.05 and $0.2 dollars. Bitcoin, instead, has higher fees that move between $2 and $20 dollars.
Litecoin network has other good news to offer to its users. Some weeks ago, Charlie Lee has announced on twitter that he performed a cross-chain atomic swap between Litecoin and Bitcoin. In addition to it, Litecoin creator has also communicated an atomic swap between Litecoin and Vertcoin.
Did a cross-chain atomic swap with LTC/BTC! 😁
10 LTC for 0.1137 BTC with @JStefanop1. ⛓️⚛️💱https://t.co/vXwTNirk0Jhttps://t.co/3NTplBOoW9 pic.twitter.com/DRKaHg4Wc7
— Charlie Lee [LTC] (@SatoshiLite) September 22, 2017
This cryptocurrency known as “silver to Bitcoin gold,” has a rich developer community that develops different changes to the network. Some experts believe that Litecoin is used as a testing platform for Bitcoin. This is because both currencies have similar blockchain characteristics.
In the future, atomic swaps could eventually compete with cryptocurrency exchanges. If the currencies can be converted to other cryptocurrencies without an exchange platform, the market could have a big bump.