Litecoin (LTC) is among the oldest tokens in the crypto market. The alt saw an impressive upswing to hit $100.53 today. That’s the first time LTC has explored the triple-digit zone since the Terra crisis.
The last time Litecoin touched these areas was 6 May 2022, though the alt saw some mini-bullish runs throughout last year. Litecoin is enjoying 2023, gaining 11% within the previous 24hrs and a notable 33% over the past 30 days.
Most importantly, Litecoin is up 55% since Jim Cramer of Mad Money TV criticized the asses on air, stating that everyone holding LTC is an idiot. Eventually, cryptocurrency fans termed it an ‘Inverse Cramer’ strategy, which emerged correctly during the recent alt rallies.
LTC’s Surged Transaction Volume
The OG token regained its seven billion market capitalization. That saw Litecoin topping one of the famous canine-themed crypto, Shiba Inu (SHIB). Stats from BitPay, a leading crypto transaction processor, shows that Litecoin only trails Bitcoin, the world’s largest digital coin.
LTC’s transactional value doubles Ethereum’s, despite ETH being the 2nd largest crypto by market capitalization. Remember, Litecoin came from a modified BTC code and attracted the masses due to its faster transactions (four times quicker) than Bitcoin.
Meanwhile, Shiba Inu also recorded an impressive daily upswing, gaining 12% as it recovered the $7.5 billion market capitalization. The popular dog-themed token traded at $0.00001282 during this writing (CoinGecko data).
Indeed, the alts have shown similar price actions this year. Nonetheless, Litecoin has twice as much SHIB transaction volume. Litecoin ranked 13th, while Shiba Inu stood at the 15th spot during this publication (Coinmarketcap data).