Key Highlights
- Litecoin rose 4.3% in 24 hours to $56, with a market cap of $4.347 billion.
- LTC’s 24-hour trading volume reached $303.465 million, while its seven-day range extended to $56.17.
- Total Litecoin futures open interest increased 6% to 7.49 million LTC, valued at $420.89 million.
Litecoin (LTC) rose 4.3% over 24 hours on Friday to trade at $56.00. The advance occurred alongside an increase in open interest across major derivatives platforms.
According to data from CoinGecko (on September 18 at 16:15 UTC), Litecoin’s 24-hour trading range was around $53.37 to $56.11. Its market capitalization stood at $4.347 billion, while 24-hour trading volume reached $303.465 million. Circulating supply was listed at 77.621 million coins, with total supply at 77.624 million and a maximum supply of 84 million.
Litecoin price momentum today
The price chart reflected a steady upward trajectory through the session. Litecoin moved from levels near $53.37 earlier in the period to a high near $56.11 before settling at $56.00.
The seven-day range extended from $50.22 to $56.17, placing the latest reading at the upper end of the recent window.
Litecoin remained 86.3% below its all-time high of $410.26, recorded on May 9, 2021. Its all-time low stood at $1.15 on January 13, 2015.
On the daily timeframe, technical indicators showed a Strong Buy summary. Moving averages registered a Strong Buy, with 14 buy signals, one neutral, and no sell signals. Oscillators remained Neutral, recording one sell, nine neutral, and one buy signal.
Litecoin rises as open interest increases
Open interest in Litecoin futures and perpetual contracts rose across exchanges. Total open interest reached 7.49 million LTC, valued at $420.89 million, according to data from CoinGlass (on September 18 at 16:15 UTC).
The figure represented a 6% increase over 24 hours, with a 2.36% rise over four hours and a 0.70% gain over one hour.
Binance held the largest share at 1.56 million LTC, valued at $87.37 million, or 20.75% of the total. Open interest on Binance increased 9.35% over 24 hours.
Bybit ranked next with 1.29 million LTC valued at $72.27 million, up 6.32% over the same period. OKX recorded 538.69 thousand LTC valued at $30.27 million, while KuCoin and Gate held smaller positions of 309.27 thousand LTC and 201.79 thousand LTC respectively.
The ratio of open interest to 24-hour volume stood at 1.1963 across all venues.
Platform support addition from SwissBorg
Meanwhile, SwissBorg, a crypto wealth management platform, announced on September 14 that it had added support for Litecoin on its platform.
The company stated in a post on X that the token was among the most searched for by users and was now available for trading.
Users can swap Litecoin against 12 fiat currencies or more than 400 other assets in a single transaction, according to the announcement. SwissBorg described Litecoin as one of the oldest cryptocurrencies, designed for fast and low-cost payments since 2011. The asset is accessible through the platform’s existing interface.
Protocol update in August
On August 4, Litecoin developers released Litecoin Core v0.21.5.6.
The update was the sixth patch in the 0.21.5.x series and formed part of a sequence of MimbleWimble Extension Block (MWEB) hardening releases. The release was tagged on GitHub by Litecoin contributor Loshan T on August 2.
Release notes on the Litecoin Project GitHub described the update as a strengthening of MWEB transaction, block, and peer-to-peer service validation.
The most consequential change was a narrowly scoped soft fork scheduled to activate at mainnet block height 3,154,440. The release was flagged as urgent for miners, pools, exchanges, and MWEB service operators.
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