Bitcoin BoardThe 2nd most popular Crypto currency after Bitcoin called Litecoin has surged in price reaching $32 this morning. The sudden price increase was due to Litecoin being undervalued in comparison to Bitcoin’s price. The price is currently hanging arround $29 at the time of writing this article.
With the surge in price in Bitcoin after Zynga announced that they will take BTC payments for in-game purchases, Litecoin is also gaining more momentum as people are seeing the need of a faster currency with a different algorithm. In the last 24 Hours the LTC price has increased by %14, gaining a total market cap of $750 million dollars. With recent news that Koinim, the most popular exchange in Turkey, now accepts trading in Litecoin, we expect to see the uptrend continuing.
Typically the LTC price moves up when BTC does too, because most exchanges use a LTC/BTC trading pair, which means that the 2 are tied to each other. However, we have seen that the infrastructure around Litecoin is getting better on a daily basis, so they should be untied of each other pretty soon. Earlier this month some websites even started talking about Litecoin taking over Bitcoin in 2014.
