The litecoin rate increased to $74 on Thursday, ruining its previous all-time high along with catapulting the coin's market cap to $3.9 billion. The development appears to have really been promoted by litecoin programmer Charlie Lee's information that he had Lightning's LND as well as a Lightning-enabled budget "set up as well as working" on the mainnet.
The $11 gain stood for a 24-hour boost of 17%. In the past week, litecoin has actually leaped over both the $60 and also $70 thresholds. Substantially, its regular rise converts right into a 50% gain over just what was already a near-record for litecoin, among the earliest cryptocurrencies. As is frequently the instance, the rally was sustained by solid volume on the Asian cryptocurrency exchanges.
Bithumb's LTC/KRW trading pair made up $119 million in volume, while OKCoin and also Huobi's LTC/CNY pairs integrated for an overall of $197 million. GDAX, the biggest LTC/USD set, experienced $77.5 million in volume. The motivation for the rally shows up to have been a tweet from litecoin designer Charlie Lee. In the tweet, Lee published a screenshot of a Lightning network-enabled Zap wallet as well as mentioned that he had it working on the litecoin mainnet.
As CCN has in fact previously reported, the activation of SegWit on both the litecoin along with bitcoin networks will definitely make it possible for cross-network offer swaps in between both cryptocurrencies. These "atomic swaps" are anticipated to promote a host of different other growths within the cryptocurrency setting.
Lee had previously revealed that he was assessing Lightning on the litecoin mainnet, yet today's tweet is confirmation that the system is operating properly. Along with litecoin, the cryptocurrency markets damaged countless records today. The bitcoin price punched using $4,700 to get to a record $4,765, while the overall crypto market cap ascended to $173 billion.
Finally, the total variety of cryptocurrencies with evaluations going beyond $1 billion climbed to 14, a new all-time high.
