Bitcoin Futures Launch & Litcoin Rising
Litecoin, the fifth-largest cryptocurrency by market cap, has gained more than 25% in value over the last 24 hours, reaching an intra-day high of $195.66 per coin.
Litecoin has gained more than 25% in value over the last 24 hours, reaching an intra-day high of $195.66 per coin. It is the fifth-largest cryptocurrency, according to coinmarketcap.
A day after Cboe Global Markets launched trading of Bitcoin futures, the asset showed an increasing raise. On Monday morning, CNBC had an interview with Litecoin creator Charlie Lee, who also added an interest towards cryptocurrency.
Litecoin initially saw a hefty loss last week after Coinbase’s GDAX exchange crashed last week, briefly sagging below the $100 mark before this week’s skyrocket in price.
Litecoin uses a slightly different mining technique than bitcoin, but has been largely left out of the cryptocurrency explosion. While the cryptocurrency has seen its value skyrocket by 4,975% this year, it’s still trading at just $187 per coin, compared to bitcoin’s $17,006. For comparison’s sake, bitcoin is up 2,062% in the last 12 months.
There is bit difference in Litecoin mining technique, which left the asset out of the cryptocurrency explosion. The cryptocurrency is still trading at just $250 per coin, compared to bitcoin’s $17,000.
The electricity used to mine bitcoin this year is bigger than the annual usage of 159 countries, a British research firm recently estimated