Litecoin (LTC) News Update – After the fail of LitePay, there were many speculations that Litecoin would lose its ground on the market. However, that is far from it. The cryptocurrency has been making progress despite the unexpected failure of LitePay.
Litecoin joins Wirex
The coin is now a part of Wirex wallet. Wirex announced the inclusion earlier today, April 26, 2018. This development will increase the convenience of using Litecoin. Litecoin joining Wirex will increase the coin’s accessibility because Wirex connects to major virtual and physical Visa debit cards.
These debit cards will now support Litecoin. Wirex revealed that they added Litecoin because it was faster to add compared to Bitcoin. The cryptocurrency also has lower blockchain fees, and it also has potential.
Litecoin joining the Wirex platform is a pretty big step for Litecoin. The currency continues to break boundaries, and it seems there are many partnerships ahead. The Litecoin – TokenPay deal may still be possible in 2018. There have been speculations that even though the partnership could not happen previously, there are still talks about it.
Is Litecoin and TokenPay Deal Still Possible?
Apparently, the founder of Litecoin, Lee and CEO of TokenPay, Derek Capo had an informal discussion concerning the deal. The talks revolved around TokenPay’s plans to acquire a German bank. Capo asked Lee if Litecoin would be interested in working with TokenPay after the German bank acquisition.
Consequently, Capo even suggested that they add Litecoin to the bank’s gift cards and debit cards. Lee was not only happy with the proposal, but he was also willing to help. He promised that he would help if there is anything he or the Litecoin foundation can help with.
There are also talks that Lee and Capo signed a non-disclosure agreement regarding their deal and that explains why details about the agreement are a secret.
Litecoin has been one cryptocurrency that has faced several ups and downs. Many people lost hope in the coin when founder Lee sold all his shares from the company. There were arguments that he would no longer care about the currency he founded since he no longer has shares in it.
That has proven to be false. The founder continues to work towards the success of the coin. Even many crypto-enthusiasts are of the opinion that Lee would perform a good work because he has no stakes in the currency. They argued that prices would not sway him. He would also not make hasty decisions based on predictions.
In an exciting turn of events, Litecoin Foundation seems to have something up their sleeves. The foundation tweeted about a “cool” project they are working on. The tweet made a call on all businesses who accept Litecoin to join the new project.
Many businesses responded to the tweet. Some firms who have not started accepting Litecoin also showed interest in the project. It seems the Litecoin team knows how to get the attention of everyone.
Litecoin joins Korbit Platform
Litecoin also joined Korbit later last week. Korbit is the most significant and oldest cryptocurrency platform in South Korea. The platform is a platform for trading in coins including Bitcoin, Ethereum, and Ripple. Now, Litecoin has also joined the platform.
Charlie Lee announced via Twitter; he even stated that he made a 100 LTC donation to aid in the promotion of this development.
Korbit ranks number 28 on the CoinCapmarket. The platform is well known for its meagre fees. The platform does not charge investors, and it only costs 0.2% for revenue producers to complete a transaction. The listing of Litecoin on Korbit increased hope in Litecoin. Enthusiasts are off the opinion that Korbit only lists cryptocurrencies that have great potential. The listing, therefore, indicates that Litecoin will perform better on the crypto market.
Other Twitter users were also excited about the fact that Charlie is willing to donate 100 LTC for promotion.
Litecoin and Bitcoin Cash Clash
There is also the competition between Litecoin and Bitcoin Cash. These two coins are striving to be the most reliable cryptocurrency. The two currencies are using the same market formula; they are both working to achieve faster transaction speed as well as lower transaction fees. It seems to be working for them, but which of them makes the cut, that is for time to decide.
The two currencies may have a common goal but their approaches are different, and that is where the thrill is. Litecoin parades itself as the silver coin of Bitcoin. It was developed using some of Bitcoin’s codes, and the currency considers itself as an addition to Bitcoin.
Bitcoin Cash, on the other hand, has set itself as a direct competition to Bitcoin. This currency has a clear intention of displacing Bitcoin.
Now let us see how the two coins are performing. Last week, Bitcoin Cash hit above $1500 whiles Litecoin remained in the $145 range.
Chart 1: Litecoin price chart (Source: Coingecko, 2018)
If Litecoin be able to detach itself from Bitcoin in the future? That can only be possible if the coin gains massive popularity and does not ride on the popularity of Bitcoin. It seems this can happen in no time. Considering how popular Litecoin is growing.
The coin is becoming one of the most popular coins. The currency is now above Ethereum, and it is striving to meet Ripple regarding Google trend results.
The coin is also now more convenient to use than the Bitcoin. The lower transaction cost has been the coin’s winning point over Bitcoin. The fast transaction speed of Litecoin in comparison to Bitcoin places the coin’s accessibility over Bitcoin as well. Litecoin takes two and a half minutes to complete a block whiles Bitcoin takes a whopping 10 minutes to do same.
Even though Litecoin’s price keeps fluctuating, the coin still holds a lot of potentials. Despite the fail of LitePay, the currency has again undertaken projects towards the decentralization of the coin.
Although Litecoin’s new project is still a secret, we are anticipating that the project will push Litecoin further. Litecoin is currently trading at $150.31 at a market cap of $8,268,605,014. The current trading volume of the coin is $339,839,593. If you are wondering if this is an excellent time to invest, the truth is this. The coin price keeps fluctuating, and that makes it difficult to predict. However, the coin has potential.