For Litecoin (LTC), Judgement Day Is April 13th
Increasing regulations from major global actors have resulted in one of the greatest markets falters known in the crypto space, with major coins in despair.
The downtrend cuts across all of the top five digital assets, with Ripple being the most hit. There’s been good news all around Litecoin (LTC), but the general market downtrend seems to overwhelm it all.
Litecoin Falters Even After Abra Adoption
Abra, the financial and technology company that produces peer-to-peer mobile payment announced a major commitment to Litecoin. Abra’s CEO Bill Barhydt released in a press conference that Litecoin would become the “primary asset class” for Abra for the next few weeks.
Such news that appears too good to be true is usually received with almost immediate growth in the market, but that has not been the case for Litecoin ever since the announcement was made by Abra. Irrespective of this, Litecoin is currently struggling below the $120 mark, far from where it stood at a month ago.
Aliant Partners, the First Official Litecoin Payment Processor
Days ago, Alliant Partners announced an official partnership with Litecoin foundation. The goal of this partnership is for Alliant Partners to advance the Litecoin Vision by developing and processing state of the art blockchain technology for Litecoin.
This partnership serves the future interest of Litecoin, as Alliant Partners, a 15-year veteran in the payment industry would be bringing a well of experience to the Foundation. Alliant Partners become the first company to complete Litecoin’s registration process, making the company Litecoin’s first official payment processor.
Litecoin Smart Contract Launch
Litecoin has a planned launch of Smart Contracts on the platform. To spice things up more, newest Litecoin partners, Abra would be the first to make use of smart contracts for transactions on Litecoin. The long-awaited launch of smart contracts on Litecoin is scheduled for April 13, if there is no further change in date.
Price and Status of Litecoin (LTC)
Not only with Litecoin, the entire crypto market is witnessing one of its greatest falters since inception. In figures, the entire crypto market ended March 31 with more than 48% less of its pulled market cap of January 1, 2018.
Since January 1, Litecoin has dropped around 50% of its market value. As at press time, LTC is trading at $116 as compared to its January opening price of $231. Litecoin is still ranked 5th with a market cap of, $6.5 Billion. Like other assets in the top 5, Litecoin is going through difficult times.
Charlie Lee Still Believes in the Vision
Founder and Director of Litecoin Foundation, Charlie Lee was recently interviewed by John Carvalho on his YouTube channel Bitcoin Error Log. The interview was focused mainly at the changes occurring in Litecoin and Bitcoin.
Through the course of the interview, Charlie Lee addressed the LitePay scandal, compared Bitcoin to Litecoin, and ended with Strong reasons why people should hold, or buy Litecoin irrespective of current market situations, as Litecoin (LTC) has a “bright future” it would be one to emerge from this market falter better.