Cryptocurrency Litecoin recorded the best performance among peers since the beginning of the year with gains of up to 330 percent.
Litecoin exceeded other popular currencies such as bitcoin, ethereum, and ripple. The market value of the e-currency reached $ 8.4 billion to rank fourth in the list of the biggest Cryptocurrencies by market value.
In 2019, it started trading on the public market at $ 30 and now the price jumped to record $ 131, an increase of more than 336 percent.
The main reason behind the sudden increase in the currency's performance was due to the 50 percent reduction in the number of the currency's mining. Regularly, the drop in supply contributes to a higher price and prevents the reduction in value of the currency.
In the meantime, Other major cryptocurrencies fell against the US dollar by about 75 percent, dropping behind bitcoin and litecoin.
Despite recent fears of correction, after a long period of stability, traders remain optimistic about a half-reward cut.
By the end of today's trading, litecoin fell by 2.2 percent at $ 131.2.
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