Bitcoin Board
Litecoin, the 2nd most popular cryptocurrency has beaten Bitcoin & all other alternative cryptocurrencies in terms of trading volume. Litecoin is now the most traded coin in terms of Fiat currency like USD, GBP, Eur CAD etc. The picture on top of this article shows you the trading volume in BTC, LTC and a lot of other altcoins.
The main reason for the sudden explosion in LTC trades is that BTCChina & Okcoin enable wire transfer to fund/withdrawal your account again yesterday, and those exchanges both take Litecoin. Since the Chinese were eager to buy LTC, but could not fund their accounts trading in China was basically halted the past week. Now that it is possible to buy Cryptocurrencies again, they are actively trading, which drives the price up. After the news, the price of LTC has surged from $17.50 to $23.50 in one day & at the time of writing this article.
We also think a correction may have played part in this price increase. The BTC/LTC ration has been hovering at around 0.027 for days, while normally it it sits around 0.033. At the moment of writing the ratio is 0.032, which seems fair to me. When Litecoin gets added to other major Exchanges like Mtgox, Bitstamp & Coinbase, we predict that this ratio will increase even further.
