Litecoin crazy price jump: what stands behind?

At the moment of press, average Litecoin price exceeded $240 mark
12 December 2017   2208

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.

Cryptopia to Support Deposits and Wthdrawals Again

“Hot” wallets will be replenished manually from Monday to Friday between 09:00 and 17:00 New Zealand time
16 April 2019   262

Affected by the actions of hackers in mid-January, New Zealand Crypto Exchange Cryptopia opened up the possibility of depositing and withdrawing Bitcoin, Litecoin and Dogecoin.

As stated in the company, “hot” wallets will be replenished manually from Monday to Friday between 09:00 and 17:00 New Zealand time. Withdrawals will be unavailable at other times or on local national holidays.

According to some reports, the damage from a hacker attack on Cryptopia could have amounted to $ 16 million, and the exchange itself said that in the worst scenario, it lost a maximum of 10% of all its funds.