Litecoin LTC/USD is posting significant gains, after trading below the $60 mark for several weeks.
What Happened: LTC made a surprising jump, surging 32.35% over the past seven days, trading at $72.10, at the time of writing.
This significant jump can be attributed to MoneyGram MGI, a leader in digital P2P payments that announced the launch of a new service to buy, trade and store Litecoin and other cryptocurrencies.
According to CoinMarketCap, on Sept. 13, LTC traded to highs of $67.48, and then fell below the $60 level, where it remained until late October. Only after the news of MoneyGram broke, Litecoin added 314 new shark and whale addresses; these wallets hold large volumes of LTC and contribute to a spike in on-chain activity.
Earlier in June, two major South Korean crypto exchanges Bithumb and Upbit delisted LTC, after the altcoin added more privacy when conducting transactions.
Price Action: Litecoin is up by 5.53% in the last 24 hours. Dogecoin DOGE/USD is down 4.76% trading at $0.1179, at the time of writing, as per Benzinga Pro.