Crypto Market Grows by $8 billion, Litecoin Still Leading in Terms of Gains

Today, trading started in a positive light. There’s a general upswing in the price of the top tokens across the digital asset market. It was a few coins that saw red. There were also a few tokens that didn’t see astronomical gains. According to a previous report, the price of Litecoin has been moving upwards. The coin has been leading the market and is the number 1 top gaining alt. It appears that this trend has continued to date.

Now, almost every digital currency in the market is doing well as we enter another weekend. The crypto markets had initially extended their consolidation by a few more days, waiting for market leader Bitcoin to move forward and it didn’t disappoint. There are only a few crypto assets performing any action today. And Litecoin is one. LTC price has lifted further as Litecoin halving approaches.

Litecoin Price Prediction: Litecoin Halving is Scheduled to Commence in Two Months

A look at the charts shows that in the last few hours the price of Litecoin continued to move upwards. It has moved from $102 only a few hours ago to $113 which is an intraday high. This means the price of Litecoin jumped by almost 11% after a few hours of trade. The Daily volume of the coin has also climbed by $5 billion which has pushed the total market capitalization of LTC to $7 billion.

The price of Litecoin has recovered nearly all losses it suffered in the past week alone. But Bitcoin took a slight drop in the past few days. It is down by 7% in the same period that Litecoin has blossomed.

What About the Rest of the Market and Bitcoin’s Dominance?

As of May 8, the price of Bitcoin has retained its dominance over the market. Bitcoin dominance remains up by 55.4%, despite the fact that the coin lost some steam in the last few hours. It is above 8k and currently priced at $8,065.37.

The price of Litecoin is ahead of the rest of the pack with about 6.79% trading at $117.95. EOS isn’t far behind with a 5.15% gain to trade at $6.69. Binance Coin was the least gainer after it sawa 0.25% increase to trade at $31.69 per coin.

Litecoin Price Prediction: Is Litecoin the Biggest Winner?

Moving to the top among the largest 100 coins by market cap is LTC. Among the top 100, there’s a slight red action but the majority are mostly in the green zone. For today WAX made a huge upside move to gain 60.67% trading at $0.118. Ardor wasn’t far having gained 46.83% to trade at $0.119. For the few red zone coins, a noteworthy mention is Aurora. The coin dropped 11.71% to trade at $0.025. ABBC Coin also dropped 3.22% to trade at $0.223.

So far, the price of Litecoin has performed better than a vast number of tokens. It has surged by 275% from $30 as of January 1 this year. LTC has recovered the losses it suffered during the bear market. It has now reached the same price position it attained at this time last year. Further gains are guaranteed when you consider the fact that Litecoin Halving is approaching. Overall it appears the weekend recorded a great start. Can this bullish session continue? Only time will tell.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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