Litecoin Shows the Best Performance
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Litecoin shows the best performance out of the Top Ten altcoins
Litecoin (LTC) showed the best performance of the top ten digital currencies. The growing bitcoin supported all other coins.
Recall that BTC on the night of Tuesday, November 17, on the BitXmi crypto exchange exceeded $ 16,800. Many analysts expected a breakout above $ 17,000. However, no breakout occurred and Bitcoin is trading at $ 16,700.
Of the top ten altcoins, Litecoin showed the biggest rise, having risen in price to $ 75. LTC capitalization has grown by 12% to $ 4.9 billion over the past 24 hours. The value of the coin has increased by almost 27% over the week.
Bitcoin Cash succeeded in market capitalization to Litecoin, which took its place in the top five altcoins. The activity of LTC addresses began to increase again in mid-November. Network users make an average of 81,660 transactions per day.
Litecoin has surpassed Bitcoin Cash on both Market Cap and Grayscale’s holdings. https://t.co/Ex0AtdmAwW
— Al (@lite_hause) November 16, 2020
The previous surge in online activity came in September ahead of the MimbleWimble update to allow confidential sending of funds. Then there was an increase in the value of the altcoin.
The coin managed to break through the resistance at the $ 70 and $ 72 levels the day before. Analysts are paying attention to the improvement in the technical performance of LTC.
Grayscale invested in Litecoin
The news background also favors the altcoin. Investment company Grayscale announced an increase in the injection of funds into litecoin. The LTC Trust has bypassed Bitcoin Cash in terms of the number of funds invested, reaching $ 53 million. While the investment in Bitcoin Cash is $ 45.8 million.
Analysts from the Santiment team predict that the rise in the value of the cryptocurrency will continue if Bitcoin surpasses $ 17,000. LTC has every chance of reaching $ 80 within 24 hours.
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