Since the beginning of May, old altcoin projects have made a breakthrough and are breaking new records one by one. Litecoin (LTC), a proof-of-work (PoW) altcoin project and Bitcoin fork, briefly reached an all-time high on some spot exchanges. However, some data collectors did not record this record.
Litecoin (LTC) returns to the top 10 with a market cap of over $ 24 billion
In the early hours of May 7, the price of Litecoin (LTC) rose as much as 7.53 percent in less than 40 minutes. According to the analysis platform CoinGecko, the LTC price reached an all-time high.On Binance , the world’s largest cryptocurrency exchange, the price of Litecoin (LTC) reached $ 374.50 as USDT.
Litecoin (LTC) supporters’ most popular Twitter account managed by the community immediately celebrated this new record. Also, according to some LTC users, the previous record was broken at $ 370.
Litecoin passes all time high!
— Litecoin (@litecoin) May 7, 2021
CoinMarketCap , the analysis platform purchased by Binance, did not recognize today’s rise as a record. The mechanisms of this platform recorded a local high at $ 372. Therefore, according to CMC, the historical record has not been broken. The following statement is found on the platform:
Highest value: December 19, 2017 (3 years ago) – $ 375.29
Old altcoin projects beat 2017 records
This increase brought Litecoin (LTC) back to the top 10 cryptocurrency rankings by market cap. Apart from Litecoin, many “old” cryptocurrencies have recently revisited all-time highs in the past few days. While Ethereum (ETH) routinely breaks new records, investors find EOS’s rise surprising. EOS was also one of the coins that did not move for a long time. Although the coin did not break its old record, it got rid of the 2-5 dollar range it has been in for at least 2 years and rose to 12 dollars.
Even in this context, the Ethereum Classic (ETC) rally is astonishing. The altcoin, which has been in the shadow for months, has not only surpassed 2017’s high of $ 41, but nearly quadrupled. Yesterday, it recorded a new all-time high of $ 167.09. This drastic surge of ETC took place in early May. According to CoinGecko data, the altcoin rose 279% in 14 days and 625% in 30 days. At the time of writing, it has dropped to $ 129.