Bitcoin rival Litecoin hits $340, surges 7,750% this year

Bitcoin's rival cryptocurrency Litecoin hit a fresh record high of over $340 on Tuesday, surging over 7,750% year-to-date. Litecoin now has a market capitalisation of more than $18 billion making it the fourth largest cryptocurrency by value. Litecoin, which is faster than Bitcoin, was started in 2011 by Charlie Lee, an MIT graduate and a former Google engineer.