If Bitcoin was Gold, then Litecoin could be silver. Surprisingly, Techcrunch reported that Charlie Lee, a former coinbase engineer, and Litecoin founder, sold almost all his Litecoin (LTC) assets. As can be seen, Litecoin isn’t young. Having been in the limelight for over 6 years, it has made significant prowess in our crypto-controlled world. As their slogan says, it is the cryptocurrency for payments. So, there is nothing sinister in seeing Litecoin focus on payments.
Litecoin (LTC) is an open source software, and a peer to peer digital currency that runs on blockchain technology. It tries to offer instant payments at reduced fees. As seen on their website, Litecoin has managed to develop a software for Windows, OS X, Linux, and Android since its development.
In the recent past, we’ve witnessed the surging of Litecoin prices. In reality, on Feb 14, its coin went over 30% higher over the U.S dollar. Due to uncertainties in prices experienced by Bitcoins since December 2017, more people are considering Litecoin as an alternative. Here is what happened before the price rise.
It all started when Litecoin (LTC) made an announcement through their twitter handle, @LitePayInc. Since Bitpay refused to accept LTC, it promised to release the infrastructure on February 26. According to coinmarketcap, the coin ranks five among all cryptocurrencies. It is among the few cryptocurrency that had a good start of 2018.
According to Litecoin charts from coinbase, Litecoin moved from a falling trend to a sharp rise. Besides, it showed a higher RSI, also known as The Relative Strength Index. All these increase the chances of Litecoin rising further.
Have you been among people enquiring about the launch of Litepay? Unlike other versions, LitePay is a payment processor of its kind. Besides, Litecoin will facilitate instant payments worldwide. Initially, people paid a fee of $5 per transaction for Bitcoin to Bitcoin Cash transactions. As opposed to this, LitePay will make express payments, at smaller prices. Litecoin has termed this as a game-changer for LTC.
Through Litepay cards, people will experience the enhanced Litecoin interoperability, the ability of a cryptocurrency to convert from one digital currency to the other. Also, Litepay will charge a flat fee of 1%. The good news for LitePay acceptors is that they will have no reason to worry about the volatile prices.
Leave alone LitePay. News about the upcoming Litecoin Cash is other reason behind the recent rise of Litecoin prices. According to coindesk, Litecoin Cash promises to give tokens. Through their official website (link), there will be new coins for old miners. In addition, Litecoin Cash promises to reward the community 10 LTC for every Litecoin Cash. This has been termed as 10:1 claim ratio. For those who still doubt about the credibility of the new coin, you can wait until its launch, and see how it will fair.
Despite the significant gap between Litecoin and Bitcoin, as at now, Litecoin (LTC) becomes the clear favorite. All these trends are an exact definition of a cryptocurrency with a bright future. It will be more than wise to invest in Litecoin.