Litecoin jumps 17% to the best levels of the year. What's behind the rally.

Author: Adam Button | Category: Cryptocurrency

Litecoin surges

Litecoin is leading the way in a broad cryptocurrency rally today. It's up 17.4% to $53.43 and touched at high of $54.00.

That's the best level since November as it briefly crested above the February peak of $53.44.
Litecoin surges
It's the best day for Litecoin since a 25% rally on February 8.

The gains are coupled with climbs in other cryptos but Litecoin was the first to rally:
  • Bitcoin +4%
  • Ethereum +8.5%
  • Ripple +4.5%
There isn't a clear catalyst behind the moves. Technically, there are some positive signs. Crypto markets have been in a modest uptrend since December and Litecoin has been particularly resilient with a series of higher lows.

That comes along with a series of announcements of news and partnerships in recent weeks, along with steps to improve privacy. Yesterday the Venezuelan government also revealed a platform that will support Litecoin remittances, along with Bitcoin, in an effort to get around US sanctions.

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