Connect with us

Altcoins

Litecoin [LTC] soars by over 29% in the past few hours; Bitcoin [BTC] follows the silver coin

Priya

Published

on

Litecoin [LTC] soars by over 29% in the past few hours; Bitcoin [BTC] follows the silver coin
Source: Unsplash

Litecoin [LTC], the Vegeta to Bitcoin’s Goku, has been taking the lead in the market since the beginning of the day. The coin seems to have successfully emerged from the bear market and has even claimed the fourth position.

According to CoinMarketCap, at press time, Litecoin was trading at $42.66 with a market cap of $2.58 billion. The coin has recorded a trading volume of $1.43 billion and has surged by over 29% in the past 24 hours. The coin started its bull race when it was valued around $32.65 earlier today, showing a rise of over $10 in its price. In addition, this rally was much anticipated by several Litecoin traders in the market, with some claiming that the price would over $50 soon.

Litecoin one-day price chart | Source: CoinMarketCap

Litecoin one-day price chart | Source: CoinMarketCap

Litecoin price chart | Source: Trading View

Litecoin price chart | Source: Trading View

Market speculators have listed down several reasons for the coin’s rally in the market. Some speculate that Charlie Lee’s announcement pertaining to MimbleWimble implementation on Litecoin has dragged the coin out of the bear’s trap. Whereas, other speculate that the Having of the mining rewards that is expected to occur in the next six months has given the coin a push.

Monkeymakessense29, a Redditor said:

“The halving is starting to get priced in”

Mr_li_jr, another Redditor said:



“Any of the top 10 coins that gets a sudden 10% or more out of the blue will cause all the market to rise, albeit temporarily. If LTC can hold a decent percentage of the gains for several months after the excitement dies down, the same way as ETH, XRP (and a few of the other top 10) have, I’ll consider it an overall positive.”

More so, the hike in the cryptocurrency’s price has resulted in several other coins gaining momentum in the market. This includes all the coins in the top 10 list, with majority among them seeing a growth of over 9% within the past few hours. Ethereum and EOS are currently seen running alongside the silver coin, with gains of over 13% and 16% in the past 24 hours.

Bitcoin [BTC], the largest cryptocurrency by market cap, is also seen taking part in the rally. At press time, the coin was trading at $3661.70 with a market cap of $64.7 billon. The coin has a trading volume of $6.88 billion and has surged by over 7.42% in the past 24 hours.

Bitcoin price chart | Source: Trading View

Bitcoin price chart | Source: Trading View





Subscribe to AMBCrypto’s Newsletter




Follow us on Telegram | Twitter | Facebook



Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

Bitcoin

John McAfee says he will reveal Nakamoto’s identity, Coinbase expands to 11 countries, and more

Priya

Published

on

By

John McAfee says he will reveal Nakamoto's identity, Coinbase expands to 11 countries, and more
Source: Unsplash

Daily Crypto News – April 18

1. John McAfee on Satoshi Nakamoto: The Founder of McAfee Associates stated that he would narrow down on the identity of Satoshi Nakamoto until he reveals Satoshi himself, otherwise he would reveal his identity to the crypto community. He also spoke about how he knows about Satoshi, to read about it, click here!

2. Coinbase expands its services to more countries: The leading exchange platform announced that it expanding its services to 11 more countries, which includes India, South Korea, and New Zealand. People in these countries can avail services provided on Coinbase.com, Coinbase Pro and its app on iOS and Android.

To know more about the countries Coinbase has expanded to, click here!

3. Craig Wright says the crypto-community want to silence him: Craig Wright, the self-proclaimed Satoshi Nakamoto, stated that the majority of the community was against him as they “desire to silence” him because they see someone who would bring an end to scams and pumps and dumps.

He also spoke about the next steps he would be taking in terms of the legal action concerning his defamation case. To read about it, click here!



4. Binance “marks the birth of a new genesis block”: The largest cryptocurrency exchange in terms of trade volume announced the launch of its Decentralized Exchange, and also stated that the mainnet swap would take place on 23 April 2019.

To read more about Binance DEX, click here!





Subscribe to AMBCrypto’s Newsletter


Continue Reading

Trending