Why Litecoin Shot More than 20% Higher Today

Today, Litecoin (CRYPTO: LTC) is one of the big movers making headlines. This cryptocurrency has surged more than 20% at its peak today, over yesterday's levels. This price action has moved Litecoin into 14th spot in the cryptocurrency rankings by market capitalization. Accordingly, investors looking at larger-cap tokens are now seeing LTC cross their screens.

It appears there are a number of drivers for this move in LTC. Among the key drivers is broadly bullish momentum picking up across the entire crypto world. With mega-cap tokens Bitcoin and Ethereum each hitting new all-time highs of late, it's unsurprising to see tokens such as LTC follow suit.

Of course, Litecoin's rise today has outpaced most of its crypto peers, particularly those with multi-billion-dollar market capitalizations. Accordingly, this is a token that's generating significant interest in the market today.

Source Fool.com