Litecoin Prices Surge Above $70 as Crypto Market Tops $175 Billion – CoinDesk

Via CoinMarketCap

The cryptocurrency markets continued to risetoday as the asset class observed strong gains, including most notably, perhaps, litecoin.

The digital assetonce dubbed "the silver to bitcoin's gold"passed $78 to achieve a new all-time high at 06:54 UTC this morning, according to CoinMarketCap data. Standing at $75.57 at press time, litecoin has increased by 17.28percent overthe past 24 hours and an astonishing 49.37 percent overthe last week.

Long in the doldrums, litecoin has seen a resurgence since its community moved to activate Segregated Witness (SegWit) on its network early in May a scaling solution that also opens the doorto new features such as smart contracts going forward.

Once again, South Korean exchange Bithumb has seen the majority of the trading, hosting22 percent of the litecoin volumein the last 24 hours. Chinese exchanges OKCoin andHuobi are close behind, with 18 and 14 percent, respectively.

While not yet close to its record high of over $0.40 set back in May, Ripple Labs' XRP token has also seen gains rising13.51 percent over the week to $0.25 today.

Dash and monero, too, have climbedthisweek, with press time prices at$382 (21.60 percent over seven days) and $140 (46.45 percent), respectively.

Taking a wider view,the combined market capitalization of all digital currencies attaineda new record high today, and had passed$175 billion at press time. That's up from $170.8 billion just yesterday, also going by data from CoinMarketCap.

Disclaimer: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Ripple.

Formation flying image via Shutterstock

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Litecoin Prices Surge Above $70 as Crypto Market Tops $175 Billion - CoinDesk

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