The past 24 hours have proven to be quite interesting for people who enjoy trading altcoins. In fact, everything listed on Poloniex has seen a remarkable amount of trading volume these past 24 hours. Litecoin, Ethereum, and Ripple all beat Bitcoin for 24-hour trading volume, with Litecoin generating over US$140m.
Poloniex Sets Some Massive Trading Volume Records
Everyone has been keeping an eye on Litecoin over the past 24 hours, as the popular altcoin has finally been added to the Coinbase exchange. This news immediately causes a frenzy across all trading markets, as a lot of people were looking to buy and sell Litecoin all of a sudden. Poloniex was the main place to be in this regard, by the look of things, as the platform saw over US$141.825m worth of trading volume in the LTC/BTC market over the past 24 hours.
With the supported of this growing trading volume, the individual price per LTC has successfully surpassed the US$21 mark. That is quite a victory for the altcoin many people have deemed to be “dead” quite a few times in recent years. Ever since Litecoin successfully locked in SegWit activation, things have evolved in the right direction. Even though Segregated Witness is not yet active on the network, things will continue to go up where the LTC value is concerned it seems
Other altcoins have seen their fair share of trading volume on Poloniex as well over the past few hours. Ethereum comes in second, with nearly US$47m in trading volume. Once again, this is on the Bitcoin trading market, rather than fiat currency. Ripple is the surprising third on the list, with over US$41. 7m in 24-hour trading volume. Even though a lot of cryptocurrency enthusiasts do not like XRP all that much, its value has been going up steadily as well.
It is evident the Bitcoin and altcoin market are both seeing quite an impressive volume over the past few weeks. Unlike what some people may think, altcoins do not necessarily lose value when Bitcoin goes up and vice versa. We are living in an era where money is pouring into cryptocurrency, and the end is not in sight yet. The overall market cap is almost at US$41bn right now, which is still only a fraction of how high things can go in the coming years.
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