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


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.