Litecoin Surges 16% as Crypto Market Gains Momentum

Litecoin (LTC) soared 16.07% on Tuesday, reaching $107.96 by 20:48 (01:48 GMT) on the Investing.com Index, marking its biggest single-day gain since December 1, 2024. The rally pushed Litecoin’s market cap to $8.18 billion, accounting for 0.24% of the total crypto market cap. However, it remains far from its all-time high of $420 set on December 12, 2017, still down 74.3%.

Over the past 24 hours, LTC fluctuated between $106.89 and $108.60. Despite today’s gain, it has dropped 4.55% over the past seven days, trading between $82.39 and $134.77. Its 24-hour trading volume hit $2.20 billion, representing 0.66% of the total crypto market volume.

Meanwhile, Bitcoin (BTC) surged 8.82% to $101,655.7, with a dominant market cap of $2.01 trillion, making up 60.18% of the entire cryptocurrency market. Ethereum (ETH) followed with a 13.74% rise to $2,853.56, bringing its market cap to $344.06 billion, or 10.3% of the total market.

The broader crypto market is witnessing a bullish surge, with major assets experiencing notable gains. Analysts speculate that growing institutional interest and favorable market sentiment may be driving the upward momentum. However, Litecoin’s recent volatility suggests traders should remain cautious.

With the cryptocurrency market regaining strength, investors are closely watching whether LTC and other major assets can sustain their upward trajectory.