Litecoin investors had reason to rejoice as the popular altcoin jumped above 30% over the last 24 hours. At the time of writing, Litecoin (LTC) was trading at $43.59 (~₹3000) in the markets.
The sudden spike seems to be driven by a partnership announcement between
Beam stated in its blog:
We have started exploration towards adding privacy and fungibility to Litecoin by allowing on-chain conversion of regular LTC into a Mimblewimble variant of LTC and vice versa. Upon such conversion, it will be possible to transact with Mimblewimble LTC in complete confidentiality.
The jump has propelled Litecoin above EOS and Bitcoin Cash with the altcoin now ranked at no. 4 by market cap.
The overall market has also seen a healthy recovery with a lot of the top cryptocurrencies seeing double-digit gains. Ethereum, EOS and Bitcoin Cash prices have by more 10% in the last 24 hours.