Litecoin has seen a resurgence this month, jumping 18% since May 8 as traders look for alternative assets to Bitcoin, which has seen an increase in both fees and transactions.
The 12-year-old cryptocurrency, a dinosaur compared to many others in the space, has benefitted as Bitcoin’s fees reached a multi-year high of $30 on May 8, according to BitInfoCharts. Since May 8, Bitcoin and Ether have both fallen about 1.7%. As of midday Thursday, Litecoin was trading for about $91.60, still a 13% gain over seven days.
