Litecoin Surged 52% This Week by Riding Bitcoin Boom

Litecoin, the Bitcoin alternative developed by Charlie Lee, is up 52% this week; after hovering around the $75 mark seven days ago, the coin’s price has increased to $114.36 today.

The biggest gains for Litecoin, the fifth-largest cryptocurrency by market cap, came on Thursday, when the price jumped over 20%. Today, Litecoin rose a further 6.99%. Its market capitalization is $7.5 billion.

Litecoin observed a surge of renewed interest back in September thanks to Litebringer, a blockchain-based fantasy RPG game that allows players to trade in-game loot for Litecoin; daily transactions on the Litecoin blockchain shot up to around 165,000, though they’ve been slowly declining ever since.

Daily transactions jumped slightly on Thursday, however, from 58,000 to 71,000.

The wider crypto market continues to do well. Bitcoin increased by 26% this week, Ethereum rose by 17%, XRP by 14%, and Bitcoin Cash by 20%.

BitcoinBTC · USD

$79,460+0.6%

24H7D1M1YYTD

02:15 PM08:15 PM02:15 AM08:00 AM02:00 PM

$81.8k$80.9k$80.1k$79.2k

24h HighHigh$82,108

24h LowLow$78,730

VolVol$2.0B

Market projectionsOdds by Myriad

Today$78,000 to $80,000$78k–$80k71% chanceThis weekBelow $80,000Below $80k64% chance

Price data by CoinGeckoCoinGeckoMore Bitcoin news and projections →

The entire market capitalization for all cryptocurrencies has risen by 3.38% over the past 24 hours.

Litecoin is still a long way off from its all-time high of $375.29, but all this green can’t hurt its prospects.

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