The Litecoin price (LTC/USD) has seen some significant gains on Tuesday, allowing it to reach its highest level in nearly a month.
The seventh-largest digital currency on the market finished the Monday session in the red, despite having enjoyed strong start. The digital coin hit an intraday high of $66.20 in the early hours of the session, but this was followed by a significant decline in subsequent trading. As a result, Litecoin closed the session at $65.37, down from its opening level of $65.82.
Litecoin mirrored its Monday start in today’s session, as its price surged above the $66 level in the early trading. However, this time the coin was able to maintain the positive momentum which allowed it to reach even greater highs as trading progressed. The Litecoin price rose as high as $68.51 in the afternoon, which was it highest level since August 7, according to data from digital currency tracker Coinmarketcap. At the time of writing, the price was hovering around $68.
In other positive news, the Litecoin network has reportedly seen a surge in terms of transaction activity in the past several days. Industry website Cryptovest reported earlier today that the network had processed more than 77,000 transactions over 24 hours. This transaction volume is way higher than the 25,000 to 30,000 levels typical for the network, the website notes, adding that such high levels have not been seen since February. Litecoin’s all-time record of more than 225,000 transactions was reached on January 4.
In today’s trading, the Litecoin price stood at $67.94, as of 15:17 BST. The digital coin has gained 4.4% in the past 24 hours, Coinmarketcap data shows. The coin’s total market cap currently stands at nearly $4 billion.
For further information on how to buy and trade Litecoin, see our comprehensive Litecoin guide.