The Litecoin price (LTC/USD) has fallen slightly from yesterday’s close, but it’s still up over the past 24 hours. The fifth-largest cryptocurrency has stabilised after last week’s slump and is currently trading at around $54.50, a significant improvement from last week’s low of $32.
Litecoin is currently the fourth most traded cryptocurrency, behind Bitcoin (BTC), Ethereum (ETH) and Bitcoin Cash (BCC or BCH). Its 24-hour trading volume stands at almost $295 million, which is generally lower than its daily trading volumes since the beginning of this month. South Korea’s leading cryptocurrency exchange Bithumb accounts for 19% of the global market activity, while China’s OKCoin, which is expected to close its trading operations at the end of next month, captures 16.6%. The Coinbase-operated trading platform GDAX comes in third place with 12.3% and Hong Kong-based Bitfinex is fourth with 9.5%.
At its current level the Litecoin price is still well off its all-time high of $92.07, which was set on September 2. Still, its performance over the past few days has shown that the digital coin is following the ongoing recovery trend observed in the broader cryptocurrency market.
Litecoin supporters have been enthusiastic about the technological advancements coming to the Litecoin blockchain. On September 1, the coin’s creator Charlie Lee tweeted that the first Lightning Network-based Litecoin transaction had been successfully executed. That announcement contributed significantly to the Litecoin’s advance the following day.
In today’s trading, the Litecoin price stood at $54.27, as of $17:45 BST. The cryptocurrency is slightly up from the same time yesterday, according to data from Coinmarketcap. Litecoin’s total market capitalisation currently stands at $2.87 billion.
For further information on how to buy and trade Litecoin, see our comprehensive Litecoin guide.