Litecoin Surges After PayPal Includes It Among the Cryptos Its Customers Can Buy, Sell, Hold

Litecoin (LTC) rose more than 10% on on Wednesday, outperforming bitcoin (BCH) to top the list of the best performing major cryptocurrencies after PayPal confirmed it’s entering the cryptocurrency market and included LTC on the list of cryptos its customers will be able to buy, sell and hold.

• LTC, the ninth-largest cryptocurrency by market value, jumped more than 10% to $52.90 – the level last seen on Sept. 3. At press time, it's up 9.71% to $52.07.
• The surge came after PayPal, with 346 million active accounts around the world, pledged to make cryptocurrency “a funding source for purchases at its 26 million merchants worldwide.”
• Initially, the service supports BTC, either (ETH), bitcoin cash (BCH) and LTC, the payments giant said.
• The announcement acted like rocket fuel to the crypto market overall as it seems to bring crypto usage one step closer to the mainstream.
• BTC, the crypto market leader, jumped 6% to a fresh 2020 high of more than $12,700 before settling down to $12.688, up 5.99%, while ETH and BCH rose 4% and 7%, respectively.