
Litecoin price (LTC/USD) hits three-month high of above $50
The Litecoin price (LTC/USD) has managed to break above the $50 mark thanks to a big surge that occurred in today’s morning session.
The fifth-largest digital currency on the market enjoyed some positive price action during yesterday’s morning session, but it finished the day in the red after seeing a significant correction in the afternoon. The digital coin hit an intraday high of $49.18 in the early afternoon, but it eventually finished the session at $47.86, down from its opening price of $48.14
Litecoin managed to recover its losses in today’s morning session and even managed to break through the $50 level for the first time in more than three months. The coin hit a near 14-and-a-half-week high of $52.16 in the early afternoon, before pulling back to lower levels. At the time of writing, the Litecoin price was hovering around $51, according to data from digital currency tracker Coinmarketcap.
The continues to experience strong market activity. Recent market data shows that some $1.5 billion worth of LTC tokens have changed hands over the past 24 hours. OKEx has been the most popular destination for LTC trading over that period, having captured 10.4% of all trades.
The strong level of market activity, combined with the rising prices, suggests that there has been an improvement in market sentiment over the past few days. Yesterday, Joshua Frank, cofounder of cryptocurrency analytics platform TheTIE, told Forbes that his company’s data suggests that this improvement was observed across the cryptocurrency top 20 and beyond.
“Among the top 20 cryptocurrencies by market cap, 10 have daily sentiment which is either high or very high, while 10 have neutral daily sentiment,” Frank said.
“None of the 20 largest cryptocurrencies currently have negative daily sentiment.”
In today’s trading, the Litecoin price stood at $50.95, as of 15:18 GMT. The digital currency has gained 4.6% in the past 24 hours.
For further information on how to buy and trade Litecoin, see our comprehensive Litecoin guide.
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