Litecoin (LTC) To Surpass The $50 Billion Market Cap
The market has rebounded from yesterday and Litecoin (LTC) has not been left behind. Its 24 hour gain according to coinmarketcap.com lies at 15.41% at the moment of writing this and is trading at $149.84. Litecoin is one of the few top 100 coins that have not had a large 7-day drop.
As a matter of fact, Litecoin has only gone down 7.79% from its 7 Day high of around $161. The other coin to survive the dip of this week is Tether which has actually gained 1.45% since the dip of this week.
As we stand, all the top 5 coins of Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH) and Cardano (ADA) have suffered an average 27% drop between them. When you compare with the 7.79% of Litecoin (LTC) you can tell that the latter coin is far more stable than the big five.
And this brings me back to my argument that Litecoin’s marketcap.com will surpass the $50 Billion mark pretty soon and putting it in position three – between Ethereum and Ripple on coinmarketcap.com.
Why will Litecoin surpass the $50 Billion Market cap?
Firstly, historical data shows that at its peak, Litecoin (LTC) was trading at $368 around mid-December. This was before the Christmas market correction. After which it was a downward spiral in the market and no coin has fully recovered since.
At $368 per LTC, the coin’s market stood at $20.28 Billion. This figure is obtained by multiplying the value of Litecoin ($368) at that time, with the circulation supply of 55.11 million coins. During that time, Litecoin rose to the peak value in a period that was less than 14 days from around a value of $102.
If the market is bullish again starting mid-February into March, Litecoin could surpass the $50 Billion market cap. This would mean that each Litecoin (LTC) would be trading at around $907. This is a very achievable value considering all the developments on the roadmap for Litecoin (LTC) this year.
It is with the last statement that brings me to the second reason as to why Litecoin will surpass the $50 Billion market cap.
This week, it was announced that Litepay will be going live in the coming days. Some have speculated that the launch is actually this week. Litepay allows for the use of Litecoin to pay for everyday items during checkout. The application converts LTC to Dollars at checkout. This means buying goods and services with Litecoin as you normally would with cash or any credit or debit card.
In this case, the app allows users to load Litecoins onto a Visa-compatible LitePay card which will be supported worldwide and do the complex Dollar conversions on use. The final goal of Litepay is to have merchants to accept payments in LTC rather than regular fiat.
Such an integration of Cryptocurrency to modern day payments will surely cause the price of Litecoin to skyrocket as it becomes the coin of choice for many cryptocurrency owners willing to use crypto for real-life purchases. Currently, such a service is available through very few Bitcoin oriented cards with high transaction fees.
Litepay promises to be cheaper, in terms of transaction fees and more user-friendly than anything in the market. This means if you want to use your profits from an ICO, all you have to do is convert your gains to Litecoin and then pay using Litepay. You can now buy your Lambo 🙂
I am sure by now you have got the picture as to how Litecoin (LTC) will reach the $907 price value and probably surpass it to levels way above $50 Billion in terms of market cap.