Litecoin Achieves New ATH Market Cap

Litecoin has surpassed another milestone as the network continues to grow rapidly as new capital flows into the market. As trading progressed last week, Litecoin hit a high of ~$320, equivalent to a total network value of $21.44 billion, surpassing 2017’s frenzy of $19.18 billion. The price of a single Litecoin has yet to break this barrier, with an average total price of ~$360 (absolute high of $420 printed on Coinbase).

Litecoin circulating supply in 2017 was ~54,380,000 compared to the current 67,510,000. During this time, the network underwent a second halving event, reducing the network inflation rate to ~3.97% per year as total supply slowly approached the hard cap limit of 84,000,000.

Confidence in capital invested in the network has never been higher, and other hard data indicators such as value transferred and transaction numbers show that usage is growing. These numbers suggest fundamental support for this valuation and indicate that it is not just speculation.