The price of the Litecoin cryptocurrency has risen by 13% over the past day, breaking the $70 mark in the process. The capitalization of LTC at the same time approached $4.7 billion.
Bitcoin rose 2.1% in 24 hours, rising again to its local maximum above $16,400, while price changes in the altcoin segment remain at near-zero levels.
At the same time, grayscale's Litecoin-based investment trust continues to attract assets. On November 12, it received $3.6 million. On the same day, the total number of wallets containing 10,000 to 100,000 LTC coins increased from 308 to 405. At the same time, the overpayment on shares of the Litecoin trust Grayscale relative to the spot price of the cryptocurrency reached 2,400%, which is the largest value among all the company's products.
The launch of the LTCN trust took place in March of this year, and until August, securities in IT were only available for private placement with the participation of accredited investors, until its listing took place on the OTC market. In the third quarter, the increase in assets in LTCN was 1,800% – the largest relative value among all the company's trusts.
Charlie Lee today drew the attention of his Twitter followers to the fact that the cryptocurrency he created will soon surpass the capitalization of Bitcoin Cash. By the time of publication, this has already happened. The BCH exchange rate has declined by 7.5% over the past week on the back of yesterday's hard fork, which led to the emergence of two separate coins.
Technical analysts also note positive trends in the cryptocurrency market. For example, analyst Benjamin Blantz writes that for longer time periods, Litecoin charts show a breakout of the inverted head and shoulders pattern with a possible bullish continuation.
"If LTC didn't look good before, it certainly does now. LTC can again lead the movement of major cryptocurrencies, " he says.