Cryptocurrencies have bounced back after imploding in early 2019. While all the major digital currencies have bottomed out from one-year lows, Litecoin (LTC) has emerged as a top performer as it continues to elicit strong interest.
Cryptocurrency Renascence
A 360% plus rally from one-year lows underscores the love that Litecoin continues to receive in the market. Elsewhere on the market, Bitcoin (BTC), the largest cryptocurrency, has rallied[1] by 135%, while Ethereum (ETH), the second biggest crypto, is up by close to 100%. With a market cap of more than $8 billion[2], Litecoin is currently ranked as the fourth largest digital asset.
Wider acceptance, especially from institutional investors[3] as well as mainstream institutions, continues to strengthen investor sentiments about cryptocurrencies. The cryptocurrency renascence is likely to continue as more products designed to give investors broader exposure to digital assets hit the market.
E-trade Financial Corp is in the process of creating a platform for trading cryptocurrencies. AT&T Inc has made it possible for people to pay their bills using digital tokens. Facebook is also believed to be in the process of launching its own digital token.
While Litecoin transactions are down by nearly 80% from their peak in early 2018, they have once again started edging higher in line with the spike in price. However, high levels of volatility in transaction fees continue to derail the use of LTC in transactions.
>> Bitcoin (BTC) Moves Up Again, Hits New High Above $9,300[4]
LTC Halving
Litecoin’s strong performance is likely to continue ahead of the much-awaited halving process. The halving process will result in the number of coins miners are awarded being reduced by half. Once the halving process
