Litecoin Prices Surge to 3-Year High As Tech Upgrade Nears

Litecoin prices hit a three-year high today – a feat analysts credited to its progress on its technical roadmap.

AccessTimeIconApr 25, 2017 at 9:00 p.m. UTC
Updated Sep 11, 2021 at 1:16 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

The price of litecoin surged to a more than three-year high earlier today.

Over the course of a particularly active session, the cryptocurrency, once marketed to as the "silver to bitcoin's gold", reached as much as $15.09 at approximately 00:30 UTC, its highest since March 2014, according to data from CoinMarketCap.

At the time of report, the digital asset had fallen slightly to $14.48 – yet this figure was still three times higher than price observed last month.

After years of dormancylitecoin has seen its price rally lately as it comes ever closer to obtaining the miner support it needs to activate a technical upgrade called Segregated Witness. (Should current support levels hold, it's expected upgrade will "lock in" in about two weeks).

At the time of report, 77.81% of litecoin miners were signaling their support for the upgrade. SegWit, a solution originally created for bitcoin, would increase litecoin's block capacity by reducing the amount of data associated with each individual transaction.

As such, the support that miners have been showing for this solution is cited as the primary influence on the recent price increase.

"Over the past week, LTC basically moved in tandem with the percentage of miners supporting it. Miner support is now 99.65% [in the past 24 hours], so litecoin is doing well," said Tim Enneking, chairman of cryptocurrency hedge fund Crypto Asset Management.

Over the long-term, litecoin's implementation of SegWit could have many positive implications, other analysts said.

Jacob Eliosoff, a cryptocurrency fund manager, spoke to this situation:

"I think this is very positive for litecoin. It is showing that that community can come together and make progress."

Trampoline image via Shutterstock; Graph image via CoinMarketCap


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.