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Litecoin Price Jumps 13 Percent as Breakout Bitcoin Slows Down

Yashu Gola
Litecoin is proving the best performing major cap crypto asset during the weekend. | Source: Shutterstock

Litecoin price(LTC) was trading at $134.47 by 09:30 UTC on Sunday, up 13.03 percent on a 24-hour adjusted timeframe.

The move uphill pushed Litecoin’s market capitalization to approx $8.18 billion, or 2.36 percent of the net cryptocurrency market valuation. At its top, Litecoin’s market worth was $19.9 billion.

litecoin, bitcoin, bitcoin price

Litecoin is trading in a range defined by $146 and $110 on Coinbase exchange in the last 24 hours. Earlier last week, the cryptocurrency established a cycle low of $109.09 upon finishing a 5-day losing streak of up to 25.58 percent.

The latest upside push negated about 19 percent of those losses, accompanied by a decent reported volume of $5.058 billion across all the cryptocurrency exchanges. At the same time, the “Real 10” Volume, which reportedly removes fraudulent trading activities from the equation, showed $359.989 million worth of Litecoin-enabled trades.

The Halving Pump Spikes Litecoin Price

The Litecoin price surge came at the time when bitcoin’s uptrend was hinting to catch a breath. The leading cryptocurrency, which established a fresh yearly high of $13,868 on Wednesday last week, was also the one to experience a deep plunge later. As of June 27, 20:00 UTC, the bitcoin-to-dollar exchange rate was trading at $10,300.

A decent upside correction took the pair as high as $12,444.77 on Friday, but bitcoin failed to hold the gains over the weekend. At the press time, the cryptocurrency was trading 4.17 percent down from its Saturday top of $12,379.99. That had a visible impact on the pricing of Litecoin. The altcoin’s rate against bitcoin, in the past 24 hours, was 12.16 percent higher.

Read the full story on CCN.com.