I have a feeling litecoin was pumped by chineese exchanges (okcoin!) and because its such a small market and there are so few exchanges, the rest of the market just jumps on the bandwagon.
BTC-e and Bitfinex did have, and have almost 80% of trading volume. So your feeling tells you the 10% Chinese trading volume managed to pump. Cryptsy, Bittrex and co make up the rest in total over 50 exchanges.
BTC-E LTC/USD 31.64 %
BTC-E LTC/BTC 23.77 %
Bitfinex LTC/USD 16.52 %
Bitfinex LTC/BTC 6.52 %
BTC-E LTC/RUR 0.43 %
BTC-E LTC/EUR 0.36 %
Bitfinex is always getting pushed around by smaller Chinese exchanges in the BTC market. Not sure why LTC would have to be different.
Not saying that is the case. Just saying this argument doesn't convince me.