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Bitcoin-Litecoin Ratio Returns to Historic Norm, Peercoin Climbs 200%

Bitcoin-Litecoin Ratio Returns to Historic Norm, Peercoin Climbs 200%

As bitcoin continues to climb to record highs, reaching as high as $1,141 on Bitstamp, it is joined in growth by a number of alternative digital currencies. The most visible has been litecoin, which has returned to what might be considered a normal trading range relative to bitcoin. Litecoin is not alone in its gains, with others like Peercoin and Namecoin making similar gains.

vs usd

The rise of litecoin has made numerous headlines over the past week, surprising many with its meteoric gains and crossing of one billion dollars of market capitalization. Yet, the dynamics in which it is actually traded are often overlooked, particularly its relationship to bitcoin. On BTC-e, the leading litecoin exchange by volume, the bitcoin-litecoin currency pair is traded with as much or more volume as litecoin-dollar. It also regularly dictates movement as visible through a series of technical factors.

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This entry was posted on December 2, 2013 by and tagged , .

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