Litecoin Prices Have Surged More Than 1,300% This Year

Litecoin prices have surged more than 1,300% this year, surpassing $60 for the first time today and setting a fresh, all-time high.

The cryptocurrency reached as much as $62.51 during the trading session, according to CoinMarketCap.

Litecoin has been enjoying a strong bull run over the last several months, which started when the currency's miners agreed to implement an upgrade called Segregated Witness on April 11, CoinDesk reported.

[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]

Since that time, Litecoin prices have surged more than 600%, additional CoinMarketCap figures show.

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While that gain might seem impressive, it pales in comparison to the more-than 1,300% increase that Litecoin prices have experienced so far this year, climbing from roughly $4 to more than $60.

The Silver To Bitcoin's Gold

Litecoin, which has been hailed as the silver to Bitcoin's gold, has enjoyed far stronger returns than its digital sibling so far this year.

Bitcoin prices have surged in 2017, enjoying a sustained bull market and surpassing $4,000 for the first time earlier this month.

In spite of these sharp increases, Bitcoin prices have risen approximately 350% this year, according to CoinDesk's Bitcoin Price Index, far less than those of Litecoin.

Disclosure: I own some Bitcoin and Ether.