Litecoin Spurts Upward to Near Record High

FinTech, Innovation, Investing, News | June 19, 2017 By:

Litecoin is on a roll, almost doubling in price over the last four days in anticipation of its listing on the Bitstamp exchange.

As of early today, Litecoin was priced at just under $50 per single coin, marking a swift rise from its high $20 range of the last few months.

Bitstamp is a bitcoin exchange based in Luxembourg and is one of the world’s largest. It allows trading between USD currency and bitcoin cryptocurrency. It also allows USD, EUR, bitcoin or Ripple deposits and withdrawals.

The price hike is a return to this level for Litecoin, which peaked at slightly more than $50 in 2013. That level was later discovered to be a manipulation by a bot, and it quickly deflated. Litecoin had been trading at about $4, then suddenly climbed when it announced that it was activating SegWit on its network in March. The recent announcement by creator Charlie Lee that he is leaving Coinbase to focus on Litecoin may also have influenced its climb.