On Sunday, August 27, Litecoin soared above the mark of $60 for the first time. The next day, the cryptocurrency rose by 9.9% to $60.69.
According to Coinmarketcap, the capitalization of Litecoin exceeded $3 billion. Currently, it makes up $3.19 billion. Litecoin holds the fifth place in the world by market capitalization.
Experts point out that the average-weighted rate of Litecoin increased by more than a third. Litcoin creator Charlie Lee, who left Coinbase recently, also stressed the strong rise in the digital currency.
Litecoin is a peer-to-peer cryptocurrency with almost zero payment cost. It is also an open source software project. Litecoin is characterized by complete decentralization and is not controlled by any authorities. Litecoin is based on the same open source cryptographic protocol as Bitcoin but has certain technological differences. This cryptocurrency was not created to replace Bitcoin, but to become an extra payment option, something like silver in the digital currency market.
