Litecoin price (LTC/USD) hits $150 amid strong crypto rally

LTC has been outperformed by major rivals despite solid gains

Litecoin price (LTC/USD) hits $150 amid strong crypto rally

The Litecoin price (LTC/USD) has topped the $150 level for the first time in more than three weeks, benefiting from a strong uptrend that has been observed across the wider cryptocurrency market.

Like many of its rivals, the cryptocurrency enjoyed strong trading on Thursday. Having opened the session at $140.04, the digital coin rose to an intraday high of $146.87, before finishing the day slightly lower at $146.30.

The digital currency has further extended its gains since the start of today’s session. Having traded near the $150 mark for most of the morning part of the session, it finally broke through that barrier in the afternoon, reaching a near-four week high of $151.49. The Litecoin price has edged lower in more recent trading and is currently hovering around $150, according to data from cryptocurrency tracker Coinmarketcap.

Litecoin’s performance is largely in line with the wider cryptocurrency market, although the coin has been outperformed by some of its rivals over the past 24 hours. Major altcoins, such as Ripple (XRP), Bitcoin Cash (BCH), IOTA (MIOTA) and EOS have posted double-digit percentage gains in that period. EOS, in particular, has been able to overtake Litecoin as the fifth largest cryptocurrency on the market, thanks to a 13% 24-hour gain.

Meanwhile, the original cryptocurrency, Bitcoin (BTC) has manage to top the $8,500 barrier for the first time since March 26.

In today’s trading, the Litecoin price stood at $149.69, as of 15:25 BST. The digital currency has gained 5.6% in the past 24 hours, Coinmarketcap data shows. Its total market capitalisation currently stands at just over $8.4 billion, which makes it the sixth-largest cryptocurrency on the market. Meanwhile, the newest member of the crypto top 5, EOS, is valued at $8.43 billion.

For further information on how to buy and trade Litecoin, see our comprehensive Litecoin guide.

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