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It is evident good things continue to happen in the world of cryptocurrency right now. With the Bitcoin price recovering pretty quickly, all of the altcoins pulling their weight will go up in value as well. The Litecoin price has proven to be an interesting metric to keep an eye on in this regard, as things are moving up quite quickly. With a Litecoin price of almost $103 again, things are looking very promising.
LITECOIN PRICE IS UBER BULLISH
In a lot of cases, any major price increase for a particular cryptocurrency is often followed by a steep retrace. That is not always the case, though, as things are certainly evolving in an interesting direction. More specifically, the Litecoin price has increased by another 19.5% over the past 24 hours, pushing the value back to over $100. It is evident this positive trend will not stop anytime soon, although it remains to be seen how things will play out in the long run.
With the Litecoin price now fast approaching $103 once again, there is still a lot of room for future growth in this regard. More specifically, we may very well see the Litecoin price surpass $110 later today, as it has become evident this price point will be reached sooner or later. All stars are aligning perfectly in this regard, although it is always difficult to confirm trends before they actually materialize. it is evident the demand for Litecoin is rather genuine right now, yet no one knows for sure how long it will take to reach that $110 level.
It has been quite a wild ride for Litecoin holders and those who bought in around 24 hours ago. With the Litecoin price climbing from around $87 all the way to $103, a lot of profit has been made in the process. This is a trend we see in multiple altcoins right now, but it is evident things are on a whole other level as far as the Litecoin price is concerned. With a 19.5% gain in USD value and a 6.11% gain in BTC value, things are certainly looking pretty good right now.
Litecoin also has a solid trading volume of over $636m in the past 24 hours. Considering how this number has increased by nearly $100m over the past 24 hours alone, it is rather evident the demand for LTC is only increasing as more time progresses. Although not everyone may see the value of Litecoin, this particular currency is certainly of great appeal for many different reasons. This currency is of great appeal in terms of atomic swaps, as well as moving money between different exchanges in a cheaper and faster way.
GDAX is still the top exchange for Litecoin trading volume, with over $170.5m in trades over the past 24 hours. Bitfinex and OKEx are still in the top three as well, which shouldn’t be overlooked by any means. Bithumb still sits in fourth place, which is still rather interesting. However, they project the Litecoin price at over $110 already, which further confirms there is a major gap between the Western and Eastern exchanges right now.
It will be interesting to see when and if the Litecoin price can effectively surpass the $110 mark. For now, it seems to be a matter of time, but things are always subject to change in this regard. There is a lot of optimism in the cryptocurrency markets right now, especially after that brief Bitcoin price correction which pushed all prices down in quick succession. With things reversing once again, things will get very interesting during the weekend.