Litecoin has almost reached the $100 USD valuation as it continues its rise up the coin market cap rankings with it placing in 5th position at the time of writing.
The token has been the standout for 2019, with the coin up 210 percent, with the most recent cryptocurrency rally making a push for the coin to top $100, currently sitting on $89.
LTC has not traded at or above $100 since June of last year, with the current price for the coin representing its relative high in both 2019 and over the last 10 months of trading.
The turnaround this year has been a marked change to the last. Litecoin experienced huge losses throughout 2018 among top cryptocurrencies. Litecoin fell 93 percent from its all-time high in late December 2017, compared to others who fell around 80%.
After one year, the token was trading in December 2018 at $23, leaving many wondering if the coin would fall to the wayside and investors began to get worried. This was the lowest moment and since that December low point, the coin has returned triumphantly.
The Litecoin foundation has been a focal point of their success and spearheaded them to popularity. An unlikely partner formed from the MMA community. Litecoin has a foothold and partnership in the UFC, and has seen endorsements from some of UFC’s most recognizable fighters.
These partnerships have and advancement of the coin has propelled the coin to greatness this year so far. Some, like Mike Novogratz, have doubted the credibility and justification for Litecoin’s success, but the market is the true judge. And it would seem that Litecoin is ticking the right boxes. Could it surpass the industry leaders like Bitcoin?