Litecoin (LTC) activity has increased sharply, with intraday trading volume reaching nearly $4 billion, the highest level in nearly 16 months, according to Sentiment Data. This increase reflects public interest due to increased awareness of cryptocurrencies due to new policy initiatives and the growth of the Litecoin ecosystem.
Litecoin continues to gain momentum, successfully breaking through the $70 milestone and now targeting the psychological level of $100. LTC is currently trading at $74.31 and has a market cap of $5.45 billion.
The recent rally in the cryptocurrency market has been reinforced by Bitcoin briefly rising to around $68,000, which is contributing to Litecoin’s upward momentum. Over the past week, Bitcoin is up 12% and Litecoin is up 10.64%.
Since its creation in 2011, Litecoin has remained a major player in the cryptocurrency market and is often referred to as “silver” as opposed to Bitcoin’s “gold”. Litecoin has a market capitalization of approximately $5.43 billion, currently ranking as the 20th most expensive cryptocurrency. Recent price action has shown a notable breakout, with LTC rising above $73, a level not seen since July.
As Litecoin passes major transaction milestones, it is seeing increased adoption at payment gateways, which is contributing to an increase in on-chain activity. Recently, Litecoin has been integrated into more global payment systems, making it more accessible and leading to increased usage and awareness.
Also read: Litecoin celebrates 13th anniversary, leading global crypto payments
