Litecoin has almost hit the $ 100 valuation as it continues its climb in the coin market capitalization rankings and ranks 5th at the time of writing.
The token was the standout result for 2019, with the coin up 210 percent. The recent rally in the cryptocurrency pushed for the coin to be above $ 100 and is currently at $ 89.
LTC has not traded at or above $ 100 since June last year, with the current price for the coin being its relative high in both 2019 and the last 10 months of trading.
The trend reversal this year was a significant change from the last. Litecoin saw huge losses in the top cryptocurrencies in 2018. Litecoin fell 93 percent from its all-time high in late December 2017, compared to others that fell around 80 percent.
After a year, the token traded at $ 23 in December 2018, with many wondering if the coin would fall by the wayside and investors began to worry. That was the lowest moment and since that low in December the coin has triumphantly returned.
The Litecoin Foundation was a focus of their success and led them to popularity. An unlikely partner from the MMA community. Litecoin has a foothold and partnership in the UFC and has been endorsed by some of the UFC’s most famous fighters.
Litecoin – the UFC’s first crypto sponsors (Source: CoinRevolution)
These partnerships have and the advancement of the coin has made the coin a big name so far this year. Some, like Mike Novogratz, have questioned the credibility and justification for Litecoin’s success, but the market is the real judge. And it seems that Litecoin is ticking the right boxes. Could it outperform industry leaders like Bitcoin?
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