yeah, technologically LTC ought to be more attractive than BTC, but that's always been the case; i wonder why now we're seeing such a big investment in the network? i should probably get over to their discussion board one of these days...
I mean price and volume don't lie. Obviously there are some whales pushing it. Question is why?
Another issue may be the fact that BTC couldn't even have a civil discussion on the block size limits. Imagine if LTC actually increases limits before BTC.
agreed...something's up with these volumes. my guess is either a handful of wealthier crypto investors or maybe even an institution or two are starting to buy into LTC. BTC does seem to have some dysfunction at the moment, which i can see causing some migration over to the next alternative in line...hopefully BTS ends up being on that short list!
Litecoin is still considered the next crypto-currency should Bitcoin run into problems and is also coming up to a block reward halving which could significantly reduce selling pressure.
Capital controls this weekend possibly for Greece could be good for all crypto too if it actually happens this time.
Litecoin is popular in both East and West & so got buying support from both during the Greek crisis and China's market problems, being no.2, Bitcoin having problems and the reward halving soon, all added up to perfect storm which is now feeding itself and sucking up BTC and Alt-coin speculators. It's obviously in very bubbly territory now. However if it gets into the $500-700 million CAP range then things could get interesting. You might start to get BTC fear feeding the bubble too. (All the headlines will be 'Could LTC replace BTC?' and BTC fanboys will start hedging BTC positions just in case.)
Just like the last LTC rise, which was also logical at the time. I got in early so I don't mind where the top is, even if I end up selling 30% off the highs, I'll still be a very,very happy man
(Not as happy as I could have been with BTSX - in August last year BTSX was already worth more than NXT+Ripple+Peercoin, popular in China and on track to wipe the floor with LTC and then the moon.)
http://8btc.com/thread-20406-1-1.html
It is because of a pyramid scheme from China,this company called "微莱科技” ask people buy at least 500ltc for them,and return them part of ltc daily,people can invite others for more return.
this is their LTC address http://qukuai.com/ltc/address/34Ae29qWAhGGTw3cSNkPygiwsgKbbCatou
you can see many 500 ltc income.
that's effing nuts! thx for the intel...it makes me more conformable continuing my LTC-->BTS conversions with every price jump.
The Litecoin volume has also come significantly from btce, I don't think the pyramid scheme has played a major factor.