Litecoin market cap has passed $7 billion these days. The interesting part here is that there was nothing major that triggered the price ofto grow dramatically over the past month. There might be some interesting reasons behind a surge like this and we will try to explain some of them.
In a nutshell…
Litecoin is a cheaper and a faster alternative to Bitcoin, it has lowe fees and also a faster transaction speed compared to Bitcoin. Another reason could be the investors who are trying to divert into other cryptocurrencies. Just one week ago, 30-40 percent of Litecoin was bought with Bitcoin tokens. Litecoin has, even more, room to grow because only 64 percent of its total supply of 84 million coins are circulating around.
In the past few months, this cryptocurrency has survived market shakedowns and recovered very fast. It also has made a rather democratic distribution of the wealth.
Also, the mentions of Litecoin on social media contributed about 5 percent of the weekly rise.
After achieving 135$, Litecoin surpassed ADA with a $7.7 billion market cap and became the sixth largest cryptocurrency in the world by market cap.
You can see here on this websitesome more information about Litecoin and more.
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