Litecoin Hits New ATH Market Capitalization
Litecoin has just surpassed another milestone as the network continues to rapidly grow following an influx of new capital into the market. As trading got underway last week, Litecoin saw a peak price of ~$320 equating to an overall network valuation of $21.44Bn, surpassing the 2017 frenzy of $19.18Bn. The price of a single Litecoin is yet to break this barrier at an average aggregate price ~$360 ($420 absolute high printed on Coinbase).
The amount of circulating Litecoin back in 2017 was ~54,380,000 compared to now where that value is ~67,510,000. Within this time the network has undergone its second halving event reducing the networks inflation rate to ~3.97%per annum as the total supply slowly closes in on the 84,000,000 hard capped limit.
There has never been so much capital confidence invested into the network and other hard data metrics such as transferred values and transaction numbers show usage is rising. These numbers suggest a fundamental support of these valuations and indicate this is not just speculation.