Litecoin is rocketing, boosting Bitcoin And Ethereum–Here’s Why

Litecoin, currently the world’s fifth largest major cryptocurrency by value, has leaped higher today following a steady rise over the last few days, pushing bitcoin, ethereum, and the wider cryptocurrency market higher.

The litecoin price, which is some 85% down from its all-time highs, has risen 17% over the last 24 hours to a year-to-date high of $55. Litecoin began the year at just over $30 per coin.

Bitcoin has meanwhile added 3%, according to CoinMarketCap data, as traders and investors again try to cross the psychological $4,000 mark, with data signaling the long-running bitcoin bear market could be coming to an end. Ethereum rose almost 8% over the last 24 hours, buoyed by the wider market.

Litecoin’s rally, which has seen some $500 million added to its market capitalization over the last 24 hour period, comes as…

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