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Litecoin Prices Surge Above $70 as Crypto Market Tops $175 Billion
Gains have been made across many of the top cryptocurrencies today, with litecoin achieving a new all-time high.
Updated Sep 13, 2021, 6:53 a.m. Published Sep 1, 2017, 10:01 a.m.
The cryptocurrency markets continued to rise today as the asset class observed strong gains, including most notably, perhaps, litecoin.
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The digital asset once dubbed "the silver to bitcoin's gold" passed $78 to achieve a new all-time high at 06:54 UTC this morning, according to CoinMarketCap data. Standing at $75.57 at press time, litecoin has increased by 17.28 percent over the past 24 hours and an astonishing 49.37 percent over the last week.
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Long in the doldrums, litecoin has seen a resurgence since its community moved to activate Segregated Witness (SegWit) on its network early in May – a scaling solution that also opens the door to new features such as smart contracts going forward.
Once again, South Korean exchange Bithumb has seen the majority of the trading, hosting 22 percent of the litecoin volume in the last 24 hours. Chinese exchanges OKCoin and Huobi are close behind, with 18 and 14 percent, respectively.
While not yet close to its record high of over $0.40 set back in May, Ripple Labs' XRP token has also seen gains – rising 13.51 percent over the week to $0.25 today.
Dash and monero, too, have climbed this week, with press time prices at $382 (21.60 percent over seven days) and $140 (46.45 percent), respectively.
Taking a wider view, the combined market capitalization of all digital currencies attained a new record high today, and had passed $175 billion at press time. That's up from $170.8 billion just yesterday, also going by data from CoinMarketCap.
Disclaimer: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Ripple.
Formation flying image via Shutterstock
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Exchange Review - March 2025
CoinDesk Data's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.
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Trading activity softened in March as market uncertainty grew amid escalating tariff tensions between the U.S. and global trading partners. Centralized exchanges recorded their lowest combined trading volume since October, declining 6.24% to $6.79tn. This marked the third consecutive monthly decline across both market segments, with spot trading volume falling 14.1% to $1.98tn and derivatives trading slipping 2.56% to $4.81tn.
- Trading Volumes Decline for Third Consecutive Month: Combined spot and derivatives trading volume on centralized exchanges fell by 6.24% to $6.79tn in March 2025, reaching the lowest level since October. Both spot and derivatives markets recorded their third consecutive monthly decline, falling 14.1% and 2.56% to $1.98tn and $4.81tn respectively.
- Institutional Crypto Trading Volume on CME Falls 23.5%: In March, total derivatives trading volume on the CME exchange fell by 23.5% to $175bn, the lowest monthly volume since October 2024. CME's market share among derivatives exchanges dropped from 4.63% to 3.64%, suggesting declining institutional interest amid current macroeconomic conditions.
- Bybit Spot Market Share Slides in March: Spot trading volume on Bybit fell by 52.1% to $81.1bn in March, coinciding with decreased trading activity following the hack of the exchange's cold wallets in February. Bybit's spot market share dropped from 7.35% to 4.10%, its lowest since July 2023.
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- Ethena's USDe becomes fifth stablecoin to surpass $10 billion market cap in just 609 days, while Tether's dominance continues to slip.
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