The Litecoin price (LTC/USD) has returned above $90 after gaining more than 16% over the past 24 hours.
The seventh-largest cryptocurrency is one of the best performers in an upbeat market attempting to recover after its recent slump. Yesterday the coin fell to an intraday low of $78.08 following a massive selloff affecting most cryptocurrencies in the top 100. However, the Litecoin price gathered strong momentum in the latter part of the session, which allowed it to finish the day at $88.33. In today’s session the coin has managed to further extend its gains and is currently trading around $94. At current price levels the cryptocurrency is trading about $10 below its all-time high of $104.61, which was set on November 29.
Trading activity remains strong, with some $480 million worth of LTC tokens having been traded in the past 24 hours. Despite experiencing a scheduled shutdown for maintenance earlier today, Coinbase’s GDAX platform has managed to capture about a quarter of all trades. Bitfinex comes in second with 15%, while OKEx accounts for 13.5% of the global activity.
In today’s trading, the Litecoin price stood at $93.52, as of 17:24 GMT. The digital currency has gained 16.3% in the past 24 hours, according to data from Coinmarketcap. Its market capitalisation currently stands at just over $5 billion.
For further information on how to buy and trade Litecoin, see our comprehensive Litecoin guide.