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  Time for Litecoin: Recapturing Place 5 | Bit Updates
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Time for Litecoin: Recapturing Place 5

Wednesday, February 14th, 2018 | bitcoin updates

Read article: Litecoin climbs to its highest level in more than a month, bringing its market capitalization in excess of $ 10 billion to market for the first time this year. With this, the "silver coin" succeeds for the first time since December in 5th place of the crypto currencies. There are several reasons for the upturn. The crypto-market was like a closed bay over much of the year so far, when the tide raises all ships alike, but the subsequent low tide collects the assembled fleet collectively back to earth. Occasionally, outliers – positive as well as negative – made a name for themselves, but the basic thrust remained the same. Finally, the movement in the market stopped almost entirely and stabilized at a little over $ 400 billion in market capitalization. Now Litecoin sets out to break the sideways movement since late last week. In the last 24 hours, the cryptocurrency has gained more than 30% – one-third of its previous market value. The price is now above the $ 200 mark and has a market capitalization of $ 11.5 billion. A side effect of the increase in Litecoin relative to the other top 10 coins is the reconquest of fifth place. Cardano claimed it first for himself. The reason for the rise in priceThere are essentially two reasons that point to such a sudden rise in the value of the coin. One reason is the announcement of the upcoming Litecoin hard fork, which will lead to the emergence of a new crypto currency called Litecoin Cash. Similar to the Bitcoin hard fork that resulted in Bitcoin Cash, investors are hoping for split free money. A second message affecting the Litecoin network was LitePal's announcement for this year and the imminent launch from LitePay. Both platforms based on Litecoin are aimed at payment processing and are designed to make the entire Litecoin transaction process easier.BTC-ECHOAbout Tobias Schmidt Tobias Schmidt has been working as an editor in the BTC-ECHO team since August 2017. He holds a bachelor's degree in Politics and Economics from the University of M√ľnster and worked as a student assistant during his studies. In addition, he gained professional experience in parliamentary work and strategic communication before moving to the journalistic field. Since 2017 he has devoted himself to blockchain technology, focusing in particular on the many different applications in politics, business and society. All contributions by Tobias Schmidt


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