LiteCoin made over 70% gains to a new record price high heading into the weekend as traders hedged some of their investments into the second longest all-time standing coin on the market. LiteCoin, was the second coin introduced after Bitcoin, and was known as the first altcoin. It uses a scrypt based mining algorithm, which is different from the ASIC style mining of Bitcoin.
LiteCoin also has rapid transactions, and has been integrated into many exchanges and platforms around the world.
The price moved from $50 a few months ago, to its current price point of over $170 in just a few months, indicating that the markets are still very open to new investment.