Litecoin Jumps 10% to $127, Its Biggest One-Day Gain Since December 2

Investing.com - Litecoin was trading at $127.409 by 01:25 (01:25 GMT) on the Investing.com Index on Wednesday, up 10.07% on the day.

Litecoin price soared more than 10% on Wednesday morning, fueled by a broader rally in the cryptocurrency market.

At 01:25 ET (01:25 GMT), Litecoin was trading at $127.409 on the Investing.com Index, up 10.07% for the day. The move came after a seven-day rally of 16.87%.

The token’s market cap stood at $9.540B, or 0.26% of the total cryptocurrency market cap, and it had seen a high of $25.609B.

In the past 24 hours, Litecoin has traded in a range of $123.024-$127.415.

Among other cryptocurrency price movements, Bitcoin was last at $106,270.6 on the Investing.com Index, up 0.37% on the day, while Ethereum was seen at $3,882.76 on the Investing.com Index, down 1.87%.

Bitcoin price was last up more than 37% for the month, and hit a record high of $113,460 on June 11. Stellar Digital price also soared to a record high earlier in June, driven by the launch of a new stablecoin.

Cryptocurrency prices have soared in 2023, driven by growing institutional interest and the launch of new products, such as exchange-traded funds, that are linked to digital currencies. However, the rally has also been fueled by speculation and retail traders, and some market participants have warned of a bubble in the crypto market.