Here’s How Litecoin (LTC) Will Surpass Its All-time High In 2018

The buzzword in the last couple of days has been that Litecoin (LTC) is now compatible with Blocknet. What this means is that LTC can now function as a cross-blockchain asset, allowing it to be connected to other crypto assets.


The buzzword in the last couple of days has been that Litecoin (LTC) is now compatible with Blocknet. What this means is that LTC can now function as a cross-blockchain asset, allowing it to be connected to other crypto assets.

Blocknet describes itself as the internet of blockchains, empowering passionate communities behind every cryptocurrency with atomic swaps. It is a protocol via which info can be transferred without the need to go through a central server.

Furthermore, it states that it does all these via its reliably decentralized exchange platform, and serves as a link between the blockchains, cryptocurrency markets, and the community around each. The most important part of the protocol is that it allows cross-blockchain data and value transfer.

In a blog post, Blocknet stated that since “Litecoin is {now) compatible with the Blocknet Protocol, it can be used in cross-blockchain dapps such as a payment processor that will allow payments accepted in Litecoin to be paid for in any other currency or vice-versa.”

It’s great news for Litecoin, as it gives it more ways to move towards mass adoption. And it could indirectly expose LTC to huge demand helping to push its value higher.

There have been attempts to point out that Litecoin would have done very well were it not for the competition that has emerged with a proliferation of altcoins. However, it’s almost forgotten that Litecoin has grown so much despite the fierce competition. It’s thus possible that LTC’s recent traction will continue in coming days, “pay with Litecoin” helping to drive it forward. LTC/USD is currently trading at $143, up by 0.9% in the last 24 hours. Over 7 days, the coin has declined by over -20%.

The recent decline has had a few investors complaining, drawing a reaction from Charlie Lee who wondered:

“It’s strange to see people claiming that Bitcoin and Litecoin are dead because the price is so low at $8000 and $140 respectively. A year ago, the price was around $1800 and $30. Back then, people would have killed for today’s prices”

It might look worrisome, but here are a few reasons why LTC could top its all-time high in 2018, riding on the Blocknet opportunity among others avenues.

The first reason is Bitcoin. Litecoin, like many other altcoins, gains whenever BTC gains. So, if a Bitcoin hit anywhere near last year’s high price, LTC would also surge. According to experts, Bitcoin’s projected growth will also indirectly impact that of LTC.

Whenever Bitcoin transactions spike, increased investor activity means that its network becomes considerably slower, and fees bloat. As such, Litecoin gets a trickle down of users. More users discovering LTC’s low fees and a better network will result in high demand and thus value growth.

Another plus for LTC is its presence on the trading platform Coinbase. It’s the premium exchange that attracts more and more users every other day. With Blocknet in place, holders of coins with huge transaction fees will exploit that opportunity to use Litecoin.

All the major coins on Coinbase at the moment are priced higher than LTC, which renders it good for beginner investors. With about 100,000 new users visiting daily, Coinbase could be the reason Litecoin breaks the duck and gets to the $400, $500 or $600 experts believe it can achieve.

Another reason relates to the LTC platform. Litecoin is already an established project, less likely to suffer major price declines. It, therefore, not only attract users who prefer its faster network and low fees but a sound platform with a proven blockchain solution.

The more the users come to realize that LTC offers an easy way to transact, the higher the chances it’ll attract more mainstream partners. These partnerships will drive the value of the native coin higher. And because the network can now operate in a cross-blockchain environment, these processes will hasten LTC integration with many more payment providers.

Lastly, Litecoin (LTC) will likely gain a lot in value in the coming days due to the increased media attention it’s getting. Part of the strong media presence comes from its founder Charlie Lee. However, it’s the mainstream media that is likely to play a vital role in getting more users to its network.

LTC is known as silver to Bitcoin’s gold standard. While many of the would-be competitor’s flounder, Litecoin has been relatively steady and the media have played their role in portraying it as a better alternative.

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