Litecoin price (LTC/USD) rises on upcoming South Korea listing
The Litecoin price (LTC/USD) has seen significant gains in today’s trading, following news that the digital coin will be listed on one of South Korea’s major cryptocurrency exchanges.
The fifth-largest cryptocurrency on the market surged to a three-week high of $139.47 on Tuesday afternoon, from an opening price of $131.97. It has pulled back slightly in more recent trading, with its price currently hovering around $137, according to data from cryptocurrency tracker Coinmarketcap.
The rally seems to be, at last in part, driven by the announcement that South Korea’s Korbit exchange will formally list the virtual coin on its platform on Wednesday.
“Litecoin (LTC), which has only been available on Other Digital Assets, will be formally listed for trading on 04/18/2018. LTC will still be available on Other Digital Assets, but LTC wallets will be consolidated into one,” Korbit said in a blog post published today.
Korbit is the smallest of the top four crypto exchanges in South Korea, which also includes Upbit, Bithumb and Coinone. The cryptocurrency has already been listed on the three larger platforms. Collectively, they account for nearly 10% of the LTC trading volume that has been generated on global crypto exchanges over the past 24 hours. However, the most popular platform for LTC trading is OKEx, which accounts for over 20% of the 24-hour volume. US-based platform GDAX, which is operated by Coinbase, is second over that period, having captured nearly 11% of all trades.
In today’s trading, the Litecoin price stood at $136.68, as of 14:34 BST. The digital currency has gained 8.2% in the past 24 hours, according to Coinmarketcap data. Its total market capitalisation currently stands at $7.67 billion, some $700 million ahead of the six-most valuable digital coin, EOS.
For further information on how to buy and trade Litecoin, see our comprehensive Litecoin guide.