| On 4 years ago

Litecoin Market Capitalisation Drove Over $2 Billion, Following Large Speculative Inflows From China and Korea


Friday evening saw Litecoin (LTC) become the world’s 4th most valuable cryptocurrency. It was possible only after Litecoin’s market capitalisation drove above $2 billion mark, following large speculative inflows from China and Korea.

Over the past 24h; Bithumb, Korea’s most popular exchange had buyers and sellers swapped approximately $97 million worth of Litecoin (12.64% of global daily volume) and through OKCoin and Huobi’s LTC/CNY trading pairs combined total of $300 million (40% of global LTC volume) flowed.

This Litecoin frenzy couldn’t keep the American and European investors away. Poloniex, America’s most popular cryptocurrency exchange saw a sudden surge of speculative capital drove Litecoin’s exchange rate against Bitcoin to a 30-day high of 0.01953.

10.62% ($82.3 million) of global Litecoin turnover took place on Poloniex’s LTC/BTC pair, according to data from CoinMarketCap.

Bitstamp, Luxembourg-based cryptocurrency exchange said that Litecoin-based trading pairs will be added next Monday.