The leading cryptocurrency Bitcoin started the new week with a rise after the declines it experienced last week.
BTC, which was at $ 26,500 yesterday, rose above $ 27,000. This rise in Bitcoin also showed itself in altcoins.
In this context, while altcoins have increased between 1% and 2% in the last 24 hours, Litecoin (LTC), which is the halving in the next August, has increased by 7.66%.
While Litecoin compensated for the losses it experienced last week, this rise also pleased LTC investors.
Looking at the reasons behind this rise of Litecoin, it was stated that the Litecoin blockchain integrated the Lightning Network was among the reasons.
Lightning Network is a Layer 2 protocol built primarily on the Bitcoin blockchain to assist with accelerated transactions and lower cost.
Litecoin's official Twitter account said in a statement that the first Lightning Network transaction was carried out on the Litecoin blockchain, helping to increase scalability up to 10 times.
“The first Lightning Network transaction on the Litecoin network has been completed.
One of the latest innovations in LTC is MWEB, which provides 10x scalability to Litecoin."
DYK: The very first @lightning transaction was made on #Litecoin?
One of the latest innovations to $LTC is #MWEB, giving Litecoin 10x scalability. https://t.co/ekSGVM9cCD
— Litecoin (@litecoin) May 14, 2023
The rise in LTC is supported by many other factors besides Lightning Network integration.
One of them is the halving event, which is expected to take place in the next few months. The halving is expected to raise the Litecoin price significantly.
In addition to these, the increasing popularity of LTC-20 tokens has also had a positive impact on Litecoin's usability and price.
Litecoin, which fell to $ 75 last week, continues to be traded at $ 87.07 at the time of writing, with an increase of 7.66% in the last 24 hours.
*Not investment advice.
