Litecoin settles higher after a profit-taking hiatus

Litecoin tilted higher on Wednesday, resuming the gains of earlier this week when it tested $50 for the first time since November 14 before dipping on profit-taking. 

As of 05:24 GMT, Litecoin rose 0.41% to $48.310, with an intraday high at $48.740, and a low at $47.222. 

Litecoin is heading for the fifth profit in six, and the fifth weekly profit in a row after recently spiking 30% to November 14 highs, while marking a weekly profit of 40%. 

The gains came following the announcement that Litecoin is partnering with Beam to develop new protocols that would enhance privacy. 

Otherwise, Litecoin adopted a new logo with a blue color to replace the main silver design, in order to reflect "confidence" and "speed". 

Litecoin marked ten monthly losses 2018, marking also the longest losing streak since the first half of 2015. 

The Path of Litecoin

Litecoin was first publicly offered in the first half of 2013 at only $3, marking record lows at below $1 in early 2015 before taking off on its long and spotted journey higher. 

The cryptocurrency pierced $100 for the first time on November 29, 2017, before scaling a record high at $370.78 on December 19, and plummeting back below $100 on June 12, before marking 1-1/5 year lows recently at $22.54.