Litecoin, the world’s fourth-largest cryptocurrency’s value hit its most elevated price in over a year last Monday. Litecoin surges above $125 hitting the highest price in over a year.
As per market capitalization, since May 23, 2018, Litecoin has risen to $128.07 at 12:00 UTC. Litecoin is currently 30% higher than its low on June 4, of $97.
Meanwhile, Bitcoin, the world’s market-esteem driving digital money has risen in the same time frame by only 7 percent. Litecoin surges above $125 hitting the highest price in over a year.
The outperformance of LTC could be linked to the mining benefits due in less than 60 days. On Aug. 8, the reward will be split from 25 coins to 12.5 coins per block for mining on litecoin’s blockchain.
As per historical data, the cost rose from about $1.5 in May 2015 to a July 2015 high of $7.00 before dropping back to $3.00.
Over the next four weeks, LTC continues to increase before witnessing an episode of profit taking place before the occasion of Aug. 6.
Additionally, it is important that the non-value measurements of litecoin see strong development; as the hash rate has hit another lifetime high of over 400 trillion hashes per second today, as indicated by bitinfocharts.com.