<\/p>\n
Litecoin<\/a> has seen a remarkable rise in its value in the recent trading day. The digital currency spiked to $105, a notable increase of 24.6% within the last 24 hours. At this juncture, the sharp increase in Litecoin’s valuation does not appear to be linked to any particular event or news release.<\/p>\n Litecoin was officially listed as a tradable cryptocurrency for users of EDX Markets<\/a> on June 20, 2023. Litecoin experienced a boost during its first three days of trading on EDX, with its price climbing from $77 to $91. The price dipped slightly after this initial rise, but the surge we see today is significantly steeper, with no apparent cause identified as of yet by the media or analysts.<\/p>\n One potential factor contributing to this surge is the recent exemption of Litecoin from the SEC’s list of tokens classified as \u201cunregistered securities\u201d. Litecoin is a derivative of Bitcoin and operates on a proof-of-work blockchain, so it is unlikely to be considered a security, which might be causing an uptick in market sentiment.<\/p>\n Litecoin (LTC) is a digital currency that came into existence in 2011 as a fork from the original Bitcoin blockchain. Its creation aimed to counter concerns that Bitcoin was becoming excessively centralized and prevent large-scale mining operations from monopolizing the mining process. While the coin has not entirely thwarted large corporations from dominating crypto mining, it has successfully repositioned itself as a cryptocurrency that individual miners can mine and as a viable system for peer-to-peer payments.<\/p>\n Litecoin was conceived by Charlie Lee<\/a>, an ex-Google engineer, in 2009, two years after the advent of Bitcoin. Litecoin’s stated mission is to serve as a medium for daily transactions and to offer a faster transaction processing time compared to its predecessor, Bitcoin.<\/p>\n Today, Litecoin’s market capitalization is an impressive $7.74 billion, with a circulating supply of 73.26 million LTC. The digital currency’s maximum supply is set at 84 million LTC. The volume of Litecoin traded in the last 24 hours has reached $3.19 billion, and the cryptocurrency has recorded a change of 15.19% over the past week. Litecoin’s price fluctuated between $84.300 and $111.260 in today’s trading.<\/p>\n The post Litecoin spikes 25%: What’s behind the sudden surge?<\/a> appeared first on CryptoSlate<\/a>,<\/p>\n","protected":false},"excerpt":{"rendered":" Litecoin has seen a remarkable rise in its value in the recent trading day. The digital currency spiked to $105, a notable increase of 24.6% within the last 24 hours. At this juncture, the sharp increase in Litecoin’s valuation does not appear to be linked to any particular event or news release. Litecoin was officially […]<\/p>\n","protected":false},"author":2,"featured_media":116350,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-116349","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/116349","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=116349"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/116349\/revisions"}],"predecessor-version":[{"id":116351,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/116349\/revisions\/116351"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/116350"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=116349"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=116349"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=116349"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}