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An increasingly-prominent example: Litecoin. The fourth largest digital currency by market capitalization has gone positively vertical this year, with Litecoin prices breaching $320 for the first time Tuesday. Since the start of 2017, Litecoin has risen 7,291% against bitcoin’s 1,731%.
So why the rise? There doesn’t seem to be a single event—though the recent surge in interest surrounding crypto currencies may have pushed some investors into becoming more adventurous. Some investors may also think the price of bitcoin is overdone—and are seeking other investment opportunities. Meanwhile, Litecoin only became somewhat easier to purchase earlier this year, with Coinbase.com adding the Crypto currency to its listing.
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