Litecoin (LTC), After a few weeks of trading in a lackluster range below $60, it made a surprising jump above this psychological level on November 2, reaching an intraday high of $62.53.
Litecoin (LTC) Strikes Down While Cryptocurrency Market Tends to Drop
At the time of this writing, Litecoin was changing hands at $61.35, up 11.68% in the last 24 hours and 7.26% in the past seven days, according to data from CoinMarketCap. A few cryptocurrency This is notable as the unit is currently recording losses. Also, trading volumes increased by 90% as traders tried to make a profit on the last move.
The rise in LTC draws attention as many cryptocurrencies are in a downward trend. In addition, with the rise, there was a 90% increase in the trading volume of the altcoin.
🚀🚀🚀 #LITECOIN 🚀🚀🚀 pic.twitter.com/Ln2ETCBdzz
— Litecoin (@litecoin) November 2, 2022
After climbing as high as $67.48, since September 13, LTC has started trading below the $53 level, where it remained until the end of October. Litecoin broke above the $53 barrier on October 27 and remained above that level until this latest rise.
LTC Rise Is Thought To Be MoneyGram Adaptation
MoneyGram, a leader in digital P2P payments, recently announced that it has launched a new service that will allow users of its MoneyGram mobile app to buy, trade and store cryptocurrencies.
MoneyGram users are now in almost all US states Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC).
The company’s existing collaboration with Coinme, a crypto exchange and API-focused crypto-as-a-service provider, made it possible to buy, trade and hold these cryptocurrencies using the MoneyGram app.
As I mentioned during the Litecoin Summit 2022 keynote, adoption is the most important thing for Litecoin. So I’m extremely excited to be able to use @MoneyGram to buy Litecoin now! Thanks @coinme for making this happen.
PS Yes, Litecoin is still alive to answer the haters 👇 pic.twitter.com/PI31vbhAqW
— Charlie Lee Ⓜ️🕸️ (@SatoshiLite) November 2, 2022
Litecoin founder Charlie Lee also celebrated the news on Twitter:
As I mentioned in the LTC Summit 2022 keynote, the most important thing for LTC is adoption. So I am extremely excited that I can now use @MoneyGram to buy LTC! Thanks @Coinme for making this happen.
PS: Yes, LTC is still alive to respond to haters.
In addition, the LTC official Twitter account also made a post celebrating the rise.
*Not investment advice.
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