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Why Litecoin Prices Have Doubled This Year | Forbes

Litecoin has been having a good year.

While many digital currencies have been struggling during the so-called crypto winter, litecoin has been enjoying significant upside.

Thus far in 2019, the cryptocurrency has rallied more than 100%, climbing from $30.35 on January 1 to $62.77 on March 17, CoinMarketCap data shows.

[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]

Prime dealer SFOX sought to explain what caused these gains in an industry report, pointing to five key factors:

Merchant Adoption Has Increased

The industry report emphasized that litecoin, created in 2011, was designed to be a “frictionless, borderless, peer-to-peer electronic cash.”

As a result, anything that helps the digital currency fulfill this purpose can potentially boost its price.

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Why Litecoin Prices Have Doubled This Year.