Litecoin crazy price jump: what stands behind?

At the moment of press, average Litecoin price exceeded $240 mark
12 December 2017   1851

For last 24 hours "digital silver" gained around 50% and is traded ~ $240.

Litecoin Charts
Litecoin Charts

Litecoin is on the 5th place at Coinmarketcap cryptocurrency rate. LTC was able to "push" Ripple from its place. 

These are the main market parameters at the moment of press:

  • Average price: $240.68
  • Marketcap: $13 060 875 216
  • 24h volume: $4 531 250 000

Charlie Lee, the creator of Litecoin noted that LTC is the most tradable coin at GDAX.

What stands behind such a big jump? Let's try to figure out. 

The growth of the crypto currency was promoted by the announcement of the popular Bitrefill mobile phone replenishment service that Litecoin has become the second native currency of the platform after bitcoin.

Moreover, in addition to replenishment of cellphone accounts, Bitrefill now offers LTC (as well as BTC) option to purchase vouchers of the largest gaming platform Steam.

Also, another theory explains the growth of lightcoin suggests that users of the Bitfinex exchange, who had problems with the withdrawal of bitcoins and ethers from their exchange accounts, converted them into LTC for output. This spurred the demand for lightcoin first on Bitfinex, and then on other exchanges.

eToro to Launch Own Crypto Wallet

At the moment, Bitcoin, Ethereum and Litecoin are supported and the wallet is available only for Platinum Club members (holders of $25k+ at eToro)
07 November 2018   429

The eToro social investment platform introduced a cryptocurrency wallet with support for Bitcoin, Ethereum and Litecoin.

Representatives of the company say that eToro Wallet is available to all EU residents, as well as Switzerland and Gibraltar. However, in order to take advantage of the new wallet, platform users must be members of Platinum Club, that is, they must hold assets worth $ 25,000 on the platform. But the company promised to soon provide access to the eToro Wallet for a wider range of users, as well as add other coins.

We believe that crypto and the blockchain technology that underpins it will have a huge impact on global finance. Blockchain has the potential to revolutionise finance and we believe that we will see the greatest transfer of wealth ever onto the blockchain. We believe that in the future all assets will be tokenised and that crypto is just the first step on this journey. Just as eToro has opened up traditional markets for investors, we want to do the same in a tokenised world. The eToro wallet is a key part of this.

Yoni Assia

CEO, eToro

The app is already available for the Android and iOS operating systems. To use a mobile wallet, users must be verified on the platform.