The crypto markets are in full recovery mode, having regained nearly $25 billion between Tuesday morning and Wednesday night. It seems that investors have realized–as prominent trader WhalePanda noted yesterday–that China’s ICO ban has a direct effect on very few crypto projects.
Litecoin Price Recovers Past $80
One cryptocurrency that took a beating during the downturn was litecoin. Heading into the weekend, litecoin was in lock-step with bitcoin’s record rally. As bitcoin climbed toward $5,000, the litecoin price crossed milestone after milestone, eventually extending as high as $92 on September 2.
Since litecoin’s climb had been so quick–it had gained nearly 50% in a week–it fell rapidly during the sell-off. By September 5 at 2:00 UTC, the litecoin price had dropped to $59.
H/t reader kevin a.
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