Litecoin surges 11% after LTC lightning network passes 100 nodes

05 Jan, 2019
by Joeri Cant
Price Action
Litecoin surges 11% after LTC lightning network passes 100 nodes

Litecoin, the silver to Bitcoin’s gold, has recently seen a surge of more than 11% gains after its Lightning Network surpassed 100 active nodes for the very first time.

Litecoin has surged massively after the announcement was made that Litecoin Lightning Network had surpassed 100 active nodes.

Outperforming the top 50, the cryptocurrency created by Charlie Lee, is now trading at $35.41, up an impressive 11.17%, with a market cap of $2.12 billion, making it the 7th largest crypto by market cap.

Even though negative market sentiments are slowly changing towards more positive ones, some analysts, including Tone Vays remain unconvinced that the bottom for the cryptocurrency market is in.

According to Vays, there is a sizable 70% chance that BTC is yet to find a true bottom, which would lead to more pain to come, as well for Litecoin.

Read more: According to Tone Vays there's 70% chance that Bitcoin hasn't hit a bottom

However, for the Litecoin community, this doesn't have to be an issue, as a growing number of them have started what they are calling the '365 Challenge'.

Those participating in the challenge have vowed to purchase at least $1 worth of Litecoin everyday in 2019 as they view this as the accumulation phase of the market having reached the typical 90% correction point.

It wil be interesting to see if this challenge will pay off, but with increased Litecoin adoption and the halving occurring in August it just might.

Let us know if you will be joining the Litecoin '365 challenge'.

Read more: Why did Charlie Lee sell all of his Litecoin?

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