Litecoin ‘Milestone’ Trading Sends Price Over $60, Market Cap Hits $3 Bln
Litecoin has hit what creator Charlie Lee has called two “milestones,” passing $60 and a $3 bln market cap for the first time.
Data from Coinmarketcap showed Sunday delivering Litecoin’s best performance in its four-year history based on Chinese and South Korean trade volumes.
At press time, its market cap had increased further to $3.2 bln, while cross-exchange prices averaged around $61.50, slightly below the all-time highs reached Sunday.
Both Lee and even mainstream media sources were keen on celebrating the success, which comes as Bitcoin follows Litecoin in activating SegWit.
Litecoin reached 2 milestones today: $60 and $3B marketcap! pic.twitter.com/v0W7mYO7LI
— Charlie Lee (@SatoshiLite) August 27, 2017Like many altcoins this year, Litecoin has benefitted from bullish sentiment on the back of its technological improvements.
12-month price performance shows a rarely-rivaled 1,300 percent increase, with one coin in September 2016 worth only around $3.75.
As SegWit activated for Bitcoin, commentators hinted the asset could be in line for a bigger jump than Bitcoin itself, the latter currently hovering around $200 below the highs reached following the event Aug. 9.
Short-term prognoses are also troubling for Bitcoin, with the community split on the implications of the SegWit2x hard fork due to occur in November.