Litecoin rallies ahead of Lightning network integration
Litecoin is experiencing a 7% price rise today, paring off some of the losses it saw in the previous week.
The price of litecoin (LTC) is witnessing an impressive price jump today. This comes as the crypto space is seeing an apparent turnaround today. Bitcoin (BTC) and most other cryptocurrencies are rising in value.
Trading at $86.98 as of press time, LTC had surged by 7.4% within a day of trading. Its trading volume surged by a notable 129%, according to CoinMarketCap data.
Despite the rise, litecoin’s volatility levels are increasing as the Bollinger bands, used in estimating volatility levels, diverge. The relative strength index indicator also moves above its average line, clearly indicating a bullish trend on the network.
The MACD indicator also signals a bullish trend on LTC as it moves above its average line.
LTC integrates Lightning Network
This surge can be attributed to a recent development that has seen the integration of the Lightning network. Transactions may now be completed faster and cheaper with the aid of the Lightning Network, a Layer 2 protocol primarily based on the bitcoin blockchain.
Since its incorporation into the bitcoin protocol, it has functioned as expected. With the most recent transaction on the Lightning Network, the solution’s adaptability has been further enhanced, which is to the advantage of all users of litecoin.