Litecoin Surged 52% This Week by Riding Bitcoin Boom

While Bitcoin had a good week, Litecoin had an even better one.

2 min read

Dec 19, 2020

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%.

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.

If anyone has any more synonyms for “went up,” please email us at editor@decrypt.co.

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

Get crypto news straight to your inbox--

sign up for the Decrypt Daily below. (It’s free).

Get Email!

Bitcoin and Ethereum Price Charts Have Disappeared From Google Search Results

Google Search has stopped displaying price charts for Bitcoin and other cryptocurrencies in its search results. Users can still access these charts through Google Finance. Over the weekend, Twitter users noted that searching for Bitcoin's price no longer yields a chart in the search results. In contrast, stock price searches still produce charts. Google did not immediately respond to a request for comment from Decrypt. Google's decision has prompted discussions about the reasons behind this chan...

Pepe Holder Loses $1.4 Million in Uniswap Permit2 Phishing Attack

Uniswap Permit2 signing, which started as a tool to simplify token approvals, has now become a common attack vector in the DeFi ecosystem. A PEPE token holder became the latest victim of a phishing scam, losing $1.39 million worth of crypto after unknowingly signing a malicious Uniswap Permit2 transaction. According to cybersecurity firm ScamSniffer, the stolen assets, including Pepe (PEPE), Microstrategy (MSTR), and Apu (APU) tokens, were transferred to a new wallet just an hour after the vict...

Bitcoin Jumps, Asian Stocks Mixed as Traders Assess China’s Economic Stimulus

Bitcoin jumped to a seven-day high late Sunday evening as Asian stocks showed mixed results following China's economic stimulus measures, announced during the weekend. The crypto is trading 2.5% higher on the day to $64,300—its highest point since October 7. It follows recent stimulus promises made by the world’s second-largest economy on Saturday. China has vowed to "significantly increase" its debt to support its weakening economy but provided no details on the size of the stimulus package, le...

News

Courses

Deep Dives

Coins

Videos