LTC (Litecoin) increased by 0.35% over the past 24 hours.

Gate News Bot Report — November 7

According to CoinMarketCap data at press time, Litecoin (LTC) is currently priced at $88.97, up 0.35% over the past 24 hours. The highest price in this period reached $101.76, while the lowest dipped to $80.10. The 24-hour trading volume stands at $560 million. The current market capitalization is approximately $6.805 billion, representing a $24 million increase from yesterday.

Litecoin is a peer-to-peer internet currency enabling instant, nearly zero-cost global payments. As an open-source global payment network, Litecoin is fully decentralized with no central authority controlling it. The network employs mathematical algorithms to ensure security, allowing individuals to maintain control over their finances. Compared to mainstream cryptocurrencies, Litecoin offers faster transaction confirmation times and higher storage efficiency. Supported by broad industry backing, trading volume, and liquidity, Litecoin has become a strong complement to Bitcoin and a proven medium for commercial transactions.

Recent key updates on LTC:

1️⃣ KuPool Strengthens Mining Power Position
KuPool recently appointed Qiu Xiaodong as Chief Operating Officer to boost growth in mining pools for major cryptocurrencies like LTC and DOGE. With extensive industry knowledge and experience in mining pool operations, Qiu Xiaodong’s addition is expected to enhance global miner profitability and competitiveness. Currently, KuPool ranks fourth worldwide in LTC/DOGE mining, with total hash power steadily increasing. This personnel change further underscores KuPool’s leading position in the mining power sector.

2️⃣ Short-term Price Volatility in LTC
LTC experienced significant price fluctuations over the past 24 hours, with a high of $101.76 and a low of $80.10. The current price is $88.97, up 0.35% from 24 hours ago, but only slightly higher than the $87.14 recorded on November 5. This volatility may reflect market uncertainty regarding LTC’s short-term trajectory.

3️⃣ Trading Volume and Market Cap Slightly Up
The 24-hour trading volume for LTC is $560 million, down from $1.028 billion on November 5 but still at a high level. The market cap is approximately $6.805 billion, a $24 million increase from the previous day, indicating a slow but steady market demand for LTC.

Technically, LTC is fluctuating within the $80–$100 range, likely to continue oscillating in this zone in the near term. Fundamentally, developments in mining pools could support the network’s security and decentralization, though their direct impact on price remains to be seen.

Note: This information is not investment advice. Please be aware of market risks when trading.