It has been an exceptional week for Litecoin as the value of the currency has gone up, as much as $90 per coin. The rise in prices of altcoins comes when the major cryptocoin, Bitcoin is racing and setting its all-time new high, towards $5,000. There is a sudden rise in traders taking a keen interest in these digital assets have majorly contributed to the crypto market, with no signs of slowing down.
One of the causes seen for the increase in the prices of Litecoin is due to the recent activation of SegWit for Bitcoin, which created the potential for cross-chain Lighting Network (LN) transactions with Litecoin. It will faster and cheaper trades on Litecoin Blockchain.
The Litecoin Foundation announced on its social media of the first ever successful Lighting Network payment, signifying that the network is complete and ready for transactions. The transaction was carried out with a $0 fee.
Another cause seen for the rise in price is due to the news that North Korea and the US becoming extremely aggressive carried Litecoin prices forward on strong demands.