Due to the recent hype of Bitcoin earlier this week, Litecoin (LTC) reacted with a massive race. Cryptocurrency is now approaching a 100% price increase only 24 hours after the cooling of Bitcoin.
Litecoin Raised
The price of Litecoin is rapidly moving towards $ 200, marking the LTC as the sixth. the largest market capitalization of nearly $ 9 billion
Volume of LTC on @GDAX on 3M, more than $ 400M of securities traded. This means that Litecoin has enabled Coinbase to generate more than $ 1 million in revenue today with GDAX! pic.twitter.com/TgPpWWNbxn
– Charlie Lee [LTC] (@SatoshiLite) December 8, 2017
Recently, there was fear of a "flippening", with Bitcoin Cash threatening to overtake Bitcoin's place as that main cryptocurrency. However, if current trends continue, a different downturn may occur as Litecoin's market capitalization may overshadow that of BCH.
Litecoin Supports Bitcoin
Litecoin has historically played a fundamental role as a tester for Bitcoin, implementing potential BTC additions in a smaller, more controlled environment to see how successfully they can to be or not to be.
The creator of Litecoin, Charlie Lee, maintained a favorable attitude towards Bitcoin. Litecoin will not move away from its role in the near future.
Bitcoin today makes a HUGE statement showing all the altcoins that the crypto king is! Wow.
$ 16500 now. I'm waiting for a fix at any time now. But again, I was expecting a correction since $ 5000. What is it that I know? ? pic.twitter.com/ibEp2AocFJ
– Charlie Lee [LTC] (@SatoshiLite) December 7, 2017