Since last night (CEST), the crypto markets have risen in value. The total market cap of all cryptocurrencies has gone from $242 billion to $254 billion, according to Coinmarketcap.
That is an increase of almost five percent.
In addition, bitcoin is closing in on $9,000.
Litecoin increases the most
Of the biggest cryptocurrencies, litecoin is clearly the one that has increased the most in the last 24 hours. The cryptocurrency has gone from $102 to $113 in just one day – an increase of over ten percent.
In fact, many believe that litecoin, which is sometimes called bitcoin’s little brother, may become one of the cryptocurrencies that will perform best in the coming months.
One reason is said to be that many investors are accumulating the cryptocurrency ahead of the upcoming halving (when the reward miners get to validate a new block on the blockchain decreases).
The halving is scheduled to take place on August 6th.