Why did Litecoin rise so fast?

[whirlcoin]

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 happened due to the pending transactions in bitcoin and ethereum block chain so people try to choose some other altcoin with cheaper anf faster transaction so litecoin is an option for them but I didn't expect this much of price growth but it is a sign that altcoin also has great future so people who can't afford to buy bitcoin then they can invest on litecoin.

[di.ako.toh]

I think litecoin price increase so fast nowadays, because of people changing their minds to place their investments to Litecoin. As they discovered its features, which they take as an advantages of Litecoins from other altcoins. Ithink one thing is the coin limits of Litecoins compared to Bitcoins and also the higher prices of Bitcoins and Ethereum in the coin market cap.

[Lindazz]

I was also surprised by the question, and I didn't think LTC could go up so much, which is clearly beyond the expectations of many people. But I don't know what the reason for the rise is?

[troiano9]

coinbase and the high fees with BTC and slow network times with ETH makes litecoin easy to move money

[coingrow]

With bitcoin and crypto making the 9 O Clock news and bitcoin making the front page of newspapers in various countreis, people are fomo making accounts at coinbase. And guess what all coins they see when they reach there other than btc. This is the reason of rising value of etherium and litecoin.

[btcbringer]

there is no good news about ltc, i also wonder why such a coin with no real value pump so much, i think it must be manipulated by some strong holders

[unusualfacts30]

It might have something to do with ETH congested network and BTC being costly. Most newbies don't realize they can divide btc in small parts so they are buying ltc instead. Price correction is also due for ltc so I think it's just getting to where it should be.

[nor9847]

it caused by bitcoin price that so high, and the price of LTC itself is really lower than bitcoin, both are the couple of cryptocurrency since few years ago before ethereum get involve in cryptocurrency, it will be balanced between them if the litecoin price get higher, but there also many investors are attracted to involve theirselves in litecoin for now.

[chrisfatos]

Low fees and Fast transactions but the fact that BTC and ETH had there own issues probably also boosted LTC to where it is right now, which is quite interesting because it has does have the potential to rise.

[DonFacundo]

its now 300 usd litecoin how fast increase is that, damn I should buy that litecoin when the price is 100 usd and now its x2 increase you can earn x2 profit with that.

[supermine]

It maybe happened due to the bitcoin and ethereum transaction issue in recent days the fee is getting higher and the transactions were in pending status for days so people may turned to some coin with fast transaction and cheap fee.Recently coinbase also shut down their site because many new users so this also maybe a reason many new crypto users in recent days.

[wklt2002]

its now 300 usd litecoin how fast increase is that, damn I should buy that litecoin when the price is 100 usd and now its x2 increase you can earn x2 profit with that.

Imagine the amount of profit when you bought a decent amount of Litecoin when they were still around 4 dollars, not that long ago. That would be amazing.

[tharindukw96]

Litecoin was the first to alter Bitcoin and the most significant difference is that it takes 2.5 minutes for Litecoin to generate a block, or transaction, in comparison to Bitcoin’s 10 minutes.‘While this matters little to traders, miners who use hardware to run Bitcoin’s network cannot switch over to Litecoin. This keeps bigger mining conglomerates away from Litecoin because they cannot easily optimize their profits by swapping to another coin, contributing to a more decentralized experience. Litecoin also has bigger blocks, and more coins in circulation, making it more affordable and swift when transacting,’ Investopedia explained.

As explained above, Litecoin can transact a lot faster than Bitcoin, but there are also a number of other characteristics that investors need to know before trading. According to Coindesk, Litecoin can handle higher volumes of transactions because of the capability of transacting faster and if Bitcoin attempted to transact on the scale of its altcoin, a code update would be needed.

[dvabit]

easy transaction, easy mining 

[Sevaev]

It maybe happened due to the bitcoin and ethereum transaction issue in recent days the fee is getting higher and the transactions were in pending status for days so people may turned to some coin with fast transaction and cheap fee.Recently coinbase also shut down their site because many new users so this also maybe a reason many new crypto users in recent days.

So it is, bitcoin and etherium slow recently, as well as Steam abandoned Bitcoin and switched to Litecoin. Still podobila news that litecoin will be the national currency of America.

[CryptoTamer]

I think its growth is based on speculation because I didn't find any good news about Litecoin, one of the plausible answers is coinbase because Litecoin is the best asset for withdrawal in coinbase because Bitcoin and Ethereum are being clogged

[Tidsdilatation]

This upward correction was necessary for litecoins survival. With the massive amount of ASICs that is pouring in on the network it was becomming unbearable. This is a really good thing.  Hope same thing happens to Ethereum.

[Igor17Krik]

Just capitalization increases the total amount of cryptocoins. Litecoin is silver. It grows after bitcoin.

[KTPU777]

If lightcain so grows - then it's someone you need. The market of crypto-currencies is a wild west at the moment. Sometimes on insignificant news the coin can grow wild, and sometimes more significant news comes out, and the coin does not react at all to them. In a word: crypt.

[CryptRoller]

I think that newcomers that have put money in bitcoin are now slowly looking for coins with less risk. Litecoin has been around the block for quite a while, so maybe it feels like a save choice?