After three years of ups and downs, the price of the cryptocurrency litecoin has finally set a new all-time high.
Then follow us on Google News!
Launched in late 2011 as an optimization of bitcoin’s open-source code, litecoin has since seen its share of volatility – its previous all-time high was $53.15 in November 2013. However, this figure proved so outsized that even amidst a broader increase in the cryptocurrency market earlier this year, litecoin was unable to join other cryptocurrencies in setting new highs.
That, however, has changed due to a decision by UK-based cryptocurrency exchange Bitstamp to list the asset, announcing on Twitter that it had made the decision earlier today.
In this light, litecoin has now completed a journey that began when the cryptocurrency’s price began pushing higher in March, bolstered by anticipation surrounding its implementation of Segregated Witness (SegWit), a software upgrade that allows the protocol to handle more transactions.
Litecoin prices have surged more than 1,000% in the last 90 days as the network gathered the needed support and then implemented the upgrade, providing a notable contrast to the last three years when it largely strived to determine a relevant use case.
Litecoin image via Shutterstock
The leader in blockchain news, CoinDesk is an independent media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Have breaking news or a story tip to send to our journalists? Contact us at [email protected].
TheBitcoinNews.com – Bitcoin News source since 2012
Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. TheBitcoinNews.com holds several Cryptocurrencies, and this information does NOT constitute investment advice or an offer to invest.
Everything on this website can be seen as Advertisment and most comes from Press Releases, TheBitcoinNews.com is is not responsible for any of the content of or from external sites and feeds. Sponsored posts are always flagged as this, guest posts, guest articles and PRs are most time but NOT always flagged as this. Expert opinions and Price predictions are not supported by us and comes up from 3th part websites.
Advertise with us : Advertise