- Litecoin (LTC) price recently pumped by 12.23 percent
- This is the largest one-day percentage gain from the altcoin since May 5
- Litecoin investors show confidence in this “lite” version of Bitcoin
The “lite” version of Bitcoin, Litecoin (LTC), recently a massive recovery of 12.23 percent. The data analytics on Investing.com shows that LTC was “trading at $302.894 by 23:42 (03:42 GMT) on the Investing.com Index.”
This movement pushed Litecoin’s market capitalization to $20.351B. This is almost 1 percent of the entire crypto industry’s market cap.
Aside from this, the 12 percent gain is the largest one-day percentage gain from LTC since its gains back on May 5. This new development may finally prove the analysts’ predictions of LTC surging to a new high of $500. Back then, Crypto analyst Lark Davis showed his excitement and tweeted, “#litecoin finally taking off!”
In an analysis recently published in CoinQuora, our team predicted that Litecoin has a bright future ahead in 2021. Due to the many developments within its ecosystem, LTC can go bullish until it reaches new heights.
According to CoinQuora’s market analysts,
Bullish LTC price prediction 2021 is $542.78.
If Litecoin continues with its bullish movements, it may even reach $600 if investors continue to show confidence in Litecoin this 2021.
Back in February, Grayscale Litecoin Trust bought 174,000 LTC. This means that institutional money is also pouring into the LTC market.
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