LTC OVER $30
Litecoin Prices Jump 70% as Market Cap Adds Over $100 Million
Litecoin prices surged nearly 70% today, ending months of stagnant market activity.
Prices for the alternative cryptocurrency rose to as much as $7.04 on CoinMarketCap, compared to $4.18 at the start of trading – a rise of about 68%. According to the data, most of the trading has taken place on Poloniex, OKCoin and Huobi.
At press time, the price is averaging around $6.30 across exchanges.
Prior to today's rally, the digital currency had seen little price volatility since roughly the start of February. In that time, litecoin prices have fluctuated within a range close to $4, market data shows. Its price reached as much as $48 in late 2013.
As for what's driving the rally, market observers aren't so sure.
One theory floated related to efforts to integrate Segregated Witness – originally proposed as an upgrade to bitcoin's code – with litecoin, though figures show that adoption has been slow amongst the altcoin's miners.
What will be next for LTC ?
I believe LTC will see $50 USD if bitcoin adoption continues to grow and people become turned off by high fees for smaller transactions. I have found myself converting currencies beforehand to either LTC or ETH as to avoid being stuck in the list of 50,000+ unconfirmed transactions at this time. Especially with an average of 3.8 transactions a second.
https://blockchain.info/unconfirmed-transactions
With that being said bitcoin is still my personal favorite as a store of value
Yes it is. But LTC or ETH will continue to rise as well.