Litecoin defies broader market to emerge as the market\'s second-highest gainer

Litecoin USD/USD traded in the green on a day when the cryptocurrency it was forked out of, Bitcoin BTC/USD, edged lower.

Litecoin (CRYPTO: LTC) traded in the green on a day when apex cryptocurrency Bitcoin (CRYPTO: BTC) edged lower.

What Happened: Out of the big seven cryptocurrencies by market capitalization, Litecoin was the second-highest gainer in the last 24 hours with a gain of almost 2%.

The coin's price appreciation was significant on a day when both Bitcoin and Ethereum (CRYPTO: ETH) prices slid.

A close Bitcoin trader, Trading Soldier, painted a bullish outlook for Litecoin, expecting it to hit $85 "anytime soon." At current prices, this would mark a gain of close to 7.5%.

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While Litecoin was originally conceived as a payment cryptocurrency, its use has since largely shifted towards being a vehicle for speculation, trading regularly in the markets.

In the last 24 hours, Litecoin's large transactions volume rose 7.3% to $3.3 billion, signaling greater engagement from the whales, as noted by IntoTheBlock.

News source：https://www.kdj.com/cryptocurrencies-news/articles/litecoin-defies-broader-market-emerge-market-gainer.html

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