Why did Litecoin rise so fast?

[wklt2002]

In the past few days, litecoin started growing really fast and it's now almost hitting 350$ on coinmarketcap. But what is the reason for it to grow this fast? Did they announce something big which I missed?

[1715212508]

1715212508

[H0nzys]

Coinbase is the answer...

[myhoho]

Thats cause of main purpose of crypto coin. They are fast and cheap for transactions. As we can remember why crypto coin founded.
Litecoin is really good for transactions and there is a chicken related thing

[cryptohunter]

has been far far higher in relation to btc before  ..... is btc really better ?

[1melyun]

İt was so cheap against bitcoin price. Many of them thought if bitcoin gold pass the limit, litecoin as a silver can pass like btc. İf you want to know technically, litecoin chain efficient than bitcoin chain. Speed, less fee, no fork and developer work on it to make litecoin better.

[wklt2002]

İt was so cheap against bitcoin price. Many of them thought if bitcoin gold pass the limit, litecoin as a silver can pass like btc. İf you want to know technically, litecoin chain efficient than bitcoin chain. Speed, less fee, no fork and developer work on it to make litecoin better.

But didn't they have that technology earlier (Litecoin)? Why would it suddenly go up?

[Gecko8]

İt was so cheap against bitcoin price. Many of them thought if bitcoin gold pass the limit, litecoin as a silver can pass like btc. İf you want to know technically, litecoin chain efficient than bitcoin chain. Speed, less fee, no fork and developer work on it to make litecoin better.

But didn't they have that technology earlier (Litecoin)? Why would it suddenly go up?

Simply because now the need was obviously growing. Transaction time and fees are getting ridigulous for BTC. So obviously a lot of people now changing into Litecoin to transfer funds. But in general ALT coins were raising today, which is an interesting fact, after all those dercrease at the couple of weeks.

[wklt2002]

İt was so cheap against bitcoin price. Many of them thought if bitcoin gold pass the limit, litecoin as a silver can pass like btc. İf you want to know technically, litecoin chain efficient than bitcoin chain. Speed, less fee, no fork and developer work on it to make litecoin better.

But didn't they have that technology earlier (Litecoin)? Why would it suddenly go up?

Simply because now the need was obviously growing. Transaction time and fees are getting ridigulous for BTC. So obviously a lot of people now changing into Litecoin to transfer funds. But in general ALT coins were raising today, which is an interesting fact, after all those dercrease at the couple of weeks.

So Litecoin has the lowest fees and fastest transactions of (almost) all altcoins? And that's why litecoin specifically went up the most?

[hari9981]

I think litecoin goes up because of the many requests with litecoin. these believers will coin eth. so they buy litecoin with a very large amount. if that happens then the litecoin votality will go up. so the price of litecoins becomes expensive. I think this is the right time for you to invest litecoin

[GreatOrchid]

It has been very undervalued for the last few months, but we should not forget that each litecoin was less than five dollars at the beggining of this year, and it is going to be worth $500 before 2018.

Litecoin has always diserved to be the on the top three, it is probably going to be the replacement of bitcoin when the fees get higher than they can not even touch the sun.

I have a theory, what if bitcoin is going to be a store of value, and litecoin is just a way to send payments? this could be a good co-operation.

Thats cause of main purpose of crypto coin. They are fast and cheap for transactions. As we can remember why crypto coin founded.

A coin to send payments, and the other that works like a "bank" account.

[1melyun]

İt was so cheap against bitcoin price. Many of them thought if bitcoin gold pass the limit, litecoin as a silver can pass like btc. İf you want to know technically, litecoin chain efficient than bitcoin chain. Speed, less fee, no fork and developer work on it to make litecoin better.

But didn't they have that technology earlier (Litecoin)? Why would it suddenly go up?

Why bitcoin price was under 10k usd a couple weeks ago? Nothing goes better, if you are looking for a dynamic of pump-dump movement no one can now that. Whale dumping the price to get more, when they are assume enough from some coins and if that coins has a potential they pump it to the moon.

[ritot]

Fast transactions, small commissions - secondary causes.
Initially, problems with BTC and ETH gave a push to the price.

[AboeHoeraira]

people who are new to crypto find BTC to be expensive, slow, very risky
then they see litecoin being basicly a cheaper and faster version of bitcoin which still has much room to grow
add to that that Charlie lee (Developer of litecoin) is giving interviews this week and that ETH was very slow as well and u have ur answer

this is just the beginning; people found out about litecoin and wont stop investing anytime soon, i'm pretty sure 500 dollar in 2017 is an easy target which will be doubled somewhere in 2018. Litecoin is just a better version of bitcoin and it's been arround for years so it's not really suprising that it will follow in the bitcoin footsteps

[SixOfFive]

Major issues with BTC is High transaction fees and more confirmation time. ETH also got a problem of network congestion from last few days.
As a alternative Litecoin or IOTA is best coz of fast transaction and low transaction fees. Old investors are shifting their invest from BTC to altcoin to gain more profit. Litecoin seem to be best option to them as it is reliable and accepted widely all around the world.

[Dyn@styN3rd]

Fast transactions, small commissions - secondary causes.
Initially, problems with BTC and ETH gave a push to the price.

Agree. There's also a possibility that when BTC price rise up some people dump some of their BTCs to give chance and buy other altcoins, diversifying their investments so that they have more options to earn. It's amazing how LTC doubled its price as compared to 3-4 days ago.

[hgmarral]

I also think it is because of the influx of new investors. They look at Bitcoin and think it's too expensive so litecoin starts looking like an attractive alternative.

[Tstar]

In the past few days, litecoin started growing really fast and it's now almost hitting 350$ on coinmarketcap. But what is the reason for it to grow this fast? Did they announce something big which I missed?

I think it was just about time. LTC have lighting network combined with cheap transactions. At this moment both ETH and BTC networks are flooded and people are looking for alternatives.

[veliq]

In my opinion, litecoin was very underestimated, and after bitter growth of bitcoin, attention was paid to it. I think its price will be fixed in the price of $ 300.

[airdrophunter]

I never thought alternate coins have a chance to grow despite of bitcoin's drastic price hike that really hurt alternate currency holders. Since the value of every digital currency is determined by the law of Economics' supply and demand, it's safe to say that Litecoin's rise is due to the demand of people. Lots of investors are pouring in their money on this alternate coin for so many reasons. With that, congrats to Litecoin hodlers by the way.

[rextab]

I also think that the run on Litecoin (and Ethereum) is fueled by news about the futures https://www.financemagnates.com/institutional-forex/exchanges/exclusive-cboe-cme-group-mulling-ethereum-litecoin-futures/