{"id":100776,"date":"2019-04-04T02:32:10","date_gmt":"2019-04-04T09:32:10","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=100776"},"modified":"2026-04-29T12:13:19","modified_gmt":"2026-04-29T11:13:19","slug":"litecoin-follows-in-bitcoins-wake-touches-100","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/litecoin-follows-in-bitcoins-wake-touches-100\/","title":{"rendered":"Litecoin follows in bitcoin\u2019s wake, touches $100"},"content":{"rendered":"<p><a href=\"https:\/\/cryptoslate.com\/coins\/litecoin\/\">Litecoin<\/a> saw breakout performance following <a href=\"https:\/\/cryptoslate.com\/btc-forks-post-astronomical-24-hour-gains-bitcoin-cash-up-60-bitcoin-sv-jumps-40\/\">similar pops<\/a> from <a href=\"https:\/\/cryptoslate.com\/coins\/bitcoin-cash\/\">Bitcoin Cash<\/a> and <a href=\"https:\/\/cryptoslate.com\/coins\/bitcoin-sv\/\">Bitcoin SV<\/a>. However, after rocketing to $100 the price crashed back down to $73, with LTC now hovering in the high 80's.<\/p>\n<h2>Litecoin Soars (and Falls Back Into Line)<\/h2>\n<p>Litecoin, the medium-of-exchange complement to <a href=\"https:\/\/cryptoslate.com\/coins\/bitcoin\/\">Bitcoin<\/a>, has experienced wild trading volatility within the last 24-hours. The price of LTC jumped from surged from $82 to $100\u2014a 22 percent jump\u2014following similar breakouts from BCH and BSV, according to <a href=\"https:\/\/cryptoslate.com\/companies\/coinbase\/\">Coinbase<\/a> Pro data.<\/p>\n<p>However, LTC\u2019s heights were short lived. Within three hours of hitting $100 the price plummeted to lows of $73 before rebounding to a range between $80 and $90. The price has since held, posting 24-hour gains of 8 percent according to CoinMarketCap data.<\/p>\n<figure id=\"attachment_100780\" aria-describedby=\"caption-attachment-100780\" style=\"width: 930px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-100780\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2019\/04\/litecoin-market-hits-100.png\" alt=\"\" width=\"930\" height=\"800\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2019\/04\/litecoin-market-hits-100.png 930w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2019\/04\/litecoin-market-hits-100-300x258.png 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2019\/04\/litecoin-market-hits-100-768x661.png 768w\" sizes=\"(max-width: 930px) 100vw, 930px\" \/><figcaption id=\"caption-attachment-100780\" class=\"wp-caption-text\">Coinbase Pro data on <a href=\"https:\/\/cryptowat.ch\/markets\/coinbase-pro\/ltc\/usd\">Cryptowat.ch<\/a><\/figcaption><\/figure>\n<p>Meanwhile, over the last 7 days, LTC has gone from $61.4 to $87.3\u2014a 42 percent increase\u2014based on aggregated CoinMarketCap data.<\/p>\n<h2>Community Reaction<\/h2>\n<p>The price surge garnered attention from some respected members of the crypto community. Michael Novogratz, billionaire and CEO of crypto investment firm Galaxy Investment Partners, was perplexed why a \u201cglorified test net\u201d was seeing this kind of price growth:<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Gold has an $8.5 trillion dollar market cap. Silver is $15bn That is .17%.  <a href=\"https:\/\/twitter.com\/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw\">$BTC<\/a> has a $90bn mkt cap. <a href=\"https:\/\/twitter.com\/search?q=%24ltc&src=ctag&ref_src=twsrc%5Etfw\">$ltc<\/a> is $5.7bn which is 6.4% of <a href=\"https:\/\/twitter.com\/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw\">$BTC<\/a>. Silver is at least useful for industrial production.  <a href=\"https:\/\/twitter.com\/search?q=%24ltc&src=ctag&ref_src=twsrc%5Etfw\">$ltc<\/a> is a glorified test net for <a href=\"https:\/\/twitter.com\/search?q=%24btc&src=ctag&ref_src=twsrc%5Etfw\">$btc<\/a>. I don&#39;t get this rally. Sell <a href=\"https:\/\/twitter.com\/search?q=%24ltc&src=ctag&ref_src=twsrc%5Etfw\">$ltc<\/a> buy <a href=\"https:\/\/twitter.com\/search?q=%24btc&src=ctag&ref_src=twsrc%5Etfw\">$btc<\/a>.<\/p>\n<p>&mdash; Mike Novogratz (@novogratz) <a href=\"https:\/\/twitter.com\/novogratz\/status\/1113525895820730370?ref_src=twsrc%5Etfw\">April 3, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Shortly after the tweet, the price dropped. However, other known crypto enthusiasts argued that Litecoin had additional upside in addition to what Novogratz suggested:<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Your general point stands. <\/p>\n<p>IMHO the gap exists because <a href=\"https:\/\/twitter.com\/search?q=%24LTC&src=ctag&ref_src=twsrc%5Etfw\">$LTC<\/a> represents the scenario in which <a href=\"https:\/\/twitter.com\/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw\">$BTC<\/a> was the correct design, but a one-time flaw or external action takes down <a href=\"https:\/\/twitter.com\/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw\">$BTC<\/a> and leaves <a href=\"https:\/\/twitter.com\/search?q=%24LTC&src=ctag&ref_src=twsrc%5Etfw\">$LTC<\/a> as the heir to the Shelling Point.<\/p>\n<p>Gold and Silver don\u2019t really have that dynamic.<\/p>\n<p>&mdash; Naval (@naval) <a href=\"https:\/\/twitter.com\/naval\/status\/1113691368570925057?ref_src=twsrc%5Etfw\">April 4, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>Primer on Litecoin\u2019s Role in Crypto<\/h2>\n<p>Litecoin\u2019s goal as a cryptocurrency is to be a medium-of-exchange that complement\u2019s Bitcoin\u2019s proposition as a store-of-value. Since its inception, LTC has played a critical role in the development of Bitcoin, often acting as a testnet before major upgrades.<\/p>\n<p>In 2016, Litecoin demonstrated its important role as a testnet by adopting SegWit, an innovation that reduced the amount of data needed to be stored on the blockchain with each transaction. The update was ultimately rolled out to Bitcoin after uncertainty around the technology was dispelled.<\/p>\n<figure id=\"attachment_92951\" aria-describedby=\"caption-attachment-92951\" style=\"width: 300px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-92951\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/11\/litecoin-potential-crypto-transactions-social-300x158.jpg\" alt=\"$62 Million Litecoin Transaction Sent for Fifty Cents: The Potential of Crypto Transactions\" width=\"300\" height=\"158\" \/><figcaption id=\"caption-attachment-92951\" class=\"wp-caption-text\">Related: <a href=\"https:\/\/cryptoslate.com\/62-million-litecoin-transaction-sent-for-fifty-cents-the-potential-of-crypto-transactions\/\">$62 Million Litecoin Transaction Sent for Fifty Cents: The Potential of Crypto Transactions<\/a><\/figcaption><\/figure>\n<p>Litecoin also works closely with Bitcoin\u2019s core development team, with devs from the projects sharing and collaborating for the benefit of both protocols.<\/p>\n<p>Another notable achievement of the cryptocurrency is its status among exchanges and wallets. According to Litecoin community manager Ilir Gashi, LTC is one of the few cryptocurrencies listed on all major exchanged and major wallets\u2014with the other two being <a href=\"\/coins\/bitcoin\/\">Bitcoin<\/a> and <a href=\"https:\/\/cryptoslate.com\/coins\/ethereum\/\">Ethereum<\/a>.<\/p>\n<p>Regardless of what people\u2019s opinions are on the role of Litecoin in crypto, it appears that people are buying. Over the past week, Litecoin\u2019s market dominance has increased from 2.63 to 3.08 percent, indicating that its share of the overall market is increasing.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Litecoin saw breakout performance following similar pops from Bitcoin Cash and Bitcoin SV. However, after rocketing to $100 the price crashed back down to $73, with LTC now hovering in the high 80&#8217;s. Litecoin Soars (and Falls Back Into Line) Litecoin, the medium-of-exchange complement to Bitcoin, has experienced wild trading volatility within the last 24-hours. [&hellip;]<\/p>\n","protected":false},"author":29,"featured_media":100781,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15323,6849],"tags":[],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Litecoin follows in bitcoin\u2019s wake, touches $100<\/title>\n<meta name=\"description\" content=\"Litecoin saw breakout performance following similar pops from Bitcoin Cash and Bitcoin SV. 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However, after rocketing to $100 the price crashed back down to $73, with LTC now hovering between $80 to $90.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/litecoin-follows-in-bitcoins-wake-touches-100\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2019-04-04T09:32:10+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-04-29T11:13:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2019\/04\/litecoin-100-social.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Mitchell Moos\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Litecoin follows in bitcoin\u2019s wake, touches $100\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mitchell Moos\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/litecoin-follows-in-bitcoins-wake-touches-100\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/litecoin-follows-in-bitcoins-wake-touches-100\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/mitchell-moos\/#person\",\"name\":\"Mitchell Moos\",\"url\":\"https:\/\/cryptoslate.com\/author\/mitchell-moos\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/mitchell-moos\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/mitchell-moos\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/11\/author-mitchell-moos.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/11\/author-mitchell-moos.jpg\",\"caption\":\"Mitchell Moos\"},\"jobTitle\":\"Contributing Analyst\",\"description\":\"Mitchell is a software enthusiast and entrepreneur. 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