Litecoin [LTC] sees price surge after a week of developments, escapes the bear’s grasp

After a week that saw most coins feel the wrath of the bear, the market opened today, 8th October, to most of the cryptocurrencies seeing green on the charts. Bitcoin [BTC], XRP and Litecoin [LTC] saw slight rises that also contributed to the increase in their market caps.

At the time of writing, Litecoin [LTC] was seeing an upturn of 0.20% and was trading at $58.08. The cryptocurrency held a market cap of $3.405 billion with a 24-hour market volume of $262.036 million. ZB.COM held the majority of Litecoin’s trade volume which amounted to $96.272 million. ZB.COM’s clamp on the Litecoin market volume was closely followed by DOBI trade which had a $70.827 million grip on the LTC market.

Litecoin was also in the news recently when Charlie Lee, the Founder of the cryptocurrency educated his Twitter followers on the difference between on-chain Bitcoin [BTC] and Litecoin [LTC] payments. One of the tweets read:

“On-chain Bitcoin and Litecoin payments are not peer-to-peer. Payments are sent from sender to miners, who record it on a distributed ledger. The recipient receives the payment when it’s recorded. BUT, this is facilitated by a p2p network where transactions are broadcasted.”

Lee concluded the entire ‘tweetstorm’ by saying that Satoshi’s vision is reflected in Bitcoin with the Lightning Network as it is a perfect fit to the title of Satoshi’s whitepaper on Bitcoin titled “A Peer-to-Peer Electronic Cash System”.

Litecoin also created ripples in the cryptospace when it was announced that LTC will be accepted by the Secured Automated Lending Technology [SALT], a platform which offers blockchain backed loans. SALT has made a name for itself in the niche market for being the top liquidity provider for large-scale cryptocurrency investors, including entities, firms working in the cryptomarket, and miners. Though its primary target is to offer loan solutions to large firms, the organization has equally invested in individual customers.