[2017-09-02] Litecoin Spikes, Highest Ever Trading Volume on GDAX

[gokayc]

Litecoin has had an excellent week, rising in value to over $90 per coin. Even more promising, it did so on the highest ever trading volumes on GDAX.

The massive run up has coincided with another major rally for Bitcoin, as it rises toward $5,000. Investors are clearly pouring massive amounts of money into the cryptocurrency market with no signs of abating.
Causes

Litecoin’s price increas has been linked to at least two different causes. First, the recent activation of SegWit for Bitcoin creates the real potential of cross-chain Lighting Network (LN) transactions with Litecoin, allowing for faster and cheaper trades to take place on the Litecoin Blockchain.

The Litecoin Foundation recently tweeted that the first ever Lightning Network payment was successful, indicating that the network is complete and ready for transactions. The transaction was sent with a $0 fee.

Second, the general run up of all cryptocurrencies this week on the news that North Korea and the US are increasingly hawkish has carried Litecoin in its wake, driving the price forward on strong demand.

Whether Litecoin will continue its recent run over $100 remains to be seen. At press time, Litecoin was trading at $91.83.

https://cointelegraph.com/news/litecoin-spikes-highest-ever-trading-volume-on-gdax

[alyssa85]

According to the following, the biggest volume was bithumb (Korean exchange), followed by some of the Chinese exchanges.

https://coinmarketcap.com/currencies/litecoin/#markets

I think people in the east really like litecoin, whereas the western exchanges prefer trading ethereum.

[shyliar]

GDAX LTC/USD $184,752,000 Trading Volume right now.

GDAX ETH/USD $83,785,500 Trading Volume right now.

The Western exchanges have been leading on LTC price for 3 months now in comparison to eastern exchanges (willing to pay a premium). The West seems interested to me.

Day traders have enjoyed the lack of stability in the ETH price though, definitely good for profits.

[TimeHacker]

The price increase is nice, but I think it's nothing compared to what is coming later this year. If you look at the Litecoin's roadmap for 2017 (https://litecoincore.org/), there should be many important development news which should drive the Litecoin's price much further. I'm not saying it will reach $1000, but something between $200 - $300 might be realistic IMHO.