Litecoin price (LTC/USD) posts modest gains in early Monday trading

By: Michael Harris
on Sep 25, 2017
Updated: Mar 11, 2020

The Litecoin price (LTC/USD) has posted modest gains so far in today’s trading, rising from yesterday’s close of $47.62. The fifth-largest cryptocurrency on the market has gained 1.5% over the past 24 hours, according to data from Coinmarketcap.

Litecoin’s trading volume has been subdued, which is consistent with a trend observed in the broader cryptocurrency market. Litecoin’s 24-hour trading volume currently stands at almost $75 million, with South Korea’s Bithumb exchange accounting for nearly 18% of the global market activity. Bitfinex comes in second place, mostly thanks to its LSD/USD trading pair, which captures 13.5% of the trading volume. US-based GDAX exchange follows just over 11%.

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In other Litecoin news, last week, the cryptocurrency’s creator Charlie Lee announced in a series of tweets that he had successfully completed cross-chain atomic swaps between Litcoin and several other cryptocurrencies, including Bitcoin. On September 19 Lee tweeted that he and Alexlyp, from the Decred Project, were able to swap 1.337 LTC for 2.4066 DCR. A day later Lee and Vertcoin’s lead developer James Love Joy performed a similar transaction, exchanging 1 LTC for 55 VTC. Lastly, on September 22, he announced that he had successfully completed an atomic swap between Litecoin and Bitcoin.

These were all on-chain transactions that did not utilised SegWit and the Lightning Network. However, these successful exchanges could be an important step toward developing a large-scale atomic swap system, facilitated by the Lightning Network.

In today’s trading, the Litecoin price stood at $48.44, as of 11:38 BST. The cryptocurrency has gained 1.6% and its total market capitalisation currently stands at $2.57 billion.

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

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