Above $100: Litecoin Hits Highest Price Since Summer 2019

Litecoin hasn't been in three figures since its second mining reward halving in 2019.

AccessTimeIconDec 17, 2020 at 10:55 a.m. UTC
Updated Sep 14, 2021 at 10:44 a.m. UTC

Litecoin's price reached three figures for the first time in 16 months earlier on Thursday.

  • The seventh-largest cryptocurrency by market value soared to $103.19, its highest since Aug. 5, 2019, according to CoinDesk 20 data.
  • Back then, litecoin had undergone its second mining reward halving, a programmed in supply cut repeated every four years to keep inflation under control.
  • The cryptocurrency has rallied by more than 20% in the past 24 hours and is up nearly 150% year to date.
  • Bitcoin's sharp rally from $19,500 to a record price of $23,770 seen in the past 24 hours looks to have put a bid under litecoin and other top cryptocurrencies such as ether, XRP, chainlink and stellar.
  • Litecoin is still down at least 75% from its record high of $375 registered on Dec. 19, 2017, according to data source Messari.
  • If bitcoin's rally stalls, we may see a rotation of money into the relatively undervalued alternative cryptocurrencies.
CoinDesk - Unknown

Litecoin daily chart

  • Litecoin's multi-week narrowing price range has ended with a bullish breakout.
  • Immediate resistance is seen at $107 (Aug. 5 high).

Read more about

DISCLOSURE

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

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.