The world’s fifth most valuable digital currency by market capitalization is currently up 54 percent against last week. Litecoin has appreciated by 112.27 percent from the February 6 low of $106.94 and is leading the recovery in the top 10 cryptocurrencies.
The sharp growth is connected to a potential hard fork that could boost demand for litecoin tokens, industry website Coindesk reports. The fork, called Litecoin Cash, is expected to bring users who own litecoin a 10 to 1 offering of the newer currency, litecoin cash, the official website says. However, the legitimacy of the project is reportedly under question.