Litecoin price recently got quoted in a never-before 3-digit, in various Cryptocurrency exchanges across the globe. Litecoin, which presently occupies the 5th slot in terms of market Capitalization, rose to the extent of 107.71 USD, as reported in the Litecoin Price Index by CoinDesk. This happens to be the largest rise in the price index of Litecoin, even since June 2018. However, the bullish movement lasted for a few hours only, as the index for the Litecoin Prices Markets is somewhere around 94USD. This represents a gain of 1% within a span of 24 hours.
An overview of the Crypto Currency market
Today, Litecoin is not the only option for Crypto rallying. Rather, there are other major players like Ether, EOS, ARP, as well as Binance Coins ,and all these options are casting a very impressive standing. Recently, Ether reached to an extent of 272 USD which is the highest slot it reached, ever since September 2018. As a matter fact, Ether is now considered as the best performer from the list of top 10 Crypto Currencies, as per CoinMarket report.
How the alternative crypto resources have been performing in the recent times?
This has been an ongoing period for all the alternative Crypto resources, after display a bullish acceleration, getting into a weaker state. The topmost Crypto resource in terms of the market value displayed a prominent rise to 8360 USD, recording the strongest rise within a span of last 10 months, took the minimum time to come down and settle around 8000 USD, as per the index of Bitcoin Price. This is what is stimulating the best litecoin miner
As Bitcoin failed to retain the gains over the extent of 8000 USD, it is likely that investors would display a preference towards the altcoins. In particular, Litecoin is likely to shine over a span of the coming weeks. As the reward halving for mining is approaching in lesser than 90 days. This justifies the reason to mine litecoin.
It is anticipated that in the month of August 2019, Mining coin reward on the Blockchain of Litecoin will come down around the range of 12.5 LTC, from its present standing of 25 LTC. This process that aims to fight the rising rate of inflation, is executed in intervals of 4 years. This has been the trend of the market to fall prior to this event of supply-alterations, well in advance. This is based on the statics derived from Historical data. Now, it is up to time to get a real picture after the process is executed.