The cryptocurrency market is rebounding today, after a brutal couple of weeks on the market. Ethereum (available on Coinbase) (ETH), Litecoin (available on Coinbase) (LTC), and Monero (XMR) are among the coins making the biggest surge this morning.
Recently, the market hit its year-low, and many of the coins reached their yearly lows as well.
Let’s take a closer look at these three coins and their latest developments.
Ethereum (available on Coinbase) (ETH)
Ethereum (available on Coinbase), the second-largest cryptocurrency by its total market cap, hit its year-low this week, sinking below $180. ETH hadn’t been under the $180 price point since late June of 2017.
Developers are steadily working on solutions to improve the scalability of the Ethereum (available on Coinbase) ecosystem, but no solution has yet to be proven extremely effective. However, these things take time. Rome wasn’t built in a day, after all.
At press time, Ethereum (available on Coinbase) is trading at $204.12 a coin, up 18.22% in 24 hours. It remains unclear what specifically boosted the price of ETH.
Litecoin (available on Coinbase) (LTC)
Litecoin (available on Coinbase), the seventh-largest cryptocurrency by its total market cap, also hit its year-low price this week. However, LTC has received a boost this morning and is currently seeing percentage gains above 10%.
We’re rolling out more USD pairs. On Sep 17 we’re launching US dollar (USD) markets for Tron (available on Binance) (TRX) and Litecoin (available on Coinbase) (LTC). Eligible #Bittrex accounts created before Sep 4 are already enabled for USD trading. New user or want to deposit/withdraw USD? Details: https://t.co/KA248OA2Bz pic.twitter.com/21xA8xZ4vm
— Bittrex (@BittrexExchange) September 12, 2018
Next Monday, Bittrex will be launching the LTC/USD trading pair. The US-based cryptocurrency exchange announced this yesterday, and this very well may be the cause of Litecoin (available on Coinbase)’s price lift. Bittrex also announced the USD and Tron (available on Binance) (TRX) pairing group, and TRX is currently seeing a price lift above 14%.
At press time, LTC is trading at $54.49 a coin, up 10.45% in 24 hours.