Litecoin (LTC): Why The Bears Might Be Wrong About Litecoin (LTC)
Litecoin (LTC) is a smart contract based system that is doing the right at the right and giving Bitcoin a run for their money. Litecoin has borrowed a lot from Bitcoin but is focused on real life solutions a fact that it will become better than the oldest cryptocurrency by usability and enhanced features.
Many cryptocurrency holders and users are finding Bitcoin rigid and taking time to respond to the consumer ever changing preferences. Litecoin has seized the opportunity to bridge this ever widening gap using the smart contract technology. For one, LTC coin is affordable and transaction fees are at their lowest compared to the first generation coin.
Why Abra has Settled on Litecoin (LTC)
To bring you up to speed, Abra Global supports the largest exchange and wallet supporting more than 20 digital coins and 50 fiat currencies, this is a unique exchange according to Abra CEO, Bill Barhydt. With use of smart contract technology, Litecoin is the natural choice to run the Abra App. Choosing Litecoin is a value addition to the platform.
According to the CEO, Litecoin offers unsurpassed lightening support; it is scalable and compatible with the Bitcoin blockchain. The comparison between Litecoin and Bitcoin, Bill adds that Litecoin offers low transaction fees which fit into Abra’s near future goals. If these two collaborate, it will be a two-way boost and the price and value of LTC will skyrocket in the market.
According to Bill, you cannot compare Abra with major exchanges like GDAX and Binance; Abra is an application that is designed to support any investor in the retail sector that is focused on extra exposure to digital assets. The application is an additional tool that opens up the various assets in the digital currency world. It is designed to provider other services beyond fiat and digital coins.
The collaboration will help Litecoin (LTC) and Abra increase adoption, increase volumes and give their consumer base better services and support. The CEO adds:
“I believe that eventually they would come in and that this could cause a huge spike in volume, price, liquidity, etc for the top Cryptos.”
What is Litecoin (LTC) Up to?
If you have ever used Bitcoin and Litecoin (LTC), you are likely to tell the difference between the two and why there is a migration from the old to the new platform. One of the obvious reasons is that the LTC token is cheap. It offers better and more scalable solutions compared to Bitcoin.
At the time of writing the price of LTC stood around 121 after losing 2.3% against the USD. Litecoin was once being traded at $300 and dropped to a low of almost $100 and seems to be finding difficulties on its recovery route.
If you are a long-term investor, Litecoin (LTC) is a must-have coin in 2018 and beyond. With Abra support, you have a chance of cheap trades between digital currencies and fiat. All you have to do is fund your wallet with LTC to be able to trade. With the use of smart contracts, your funds are safe and transactions fees drastically lower and your recipients will enjoy near real time transactions.
To improve on its market penetration and reach, Litecoin (LTC) is now listed at Gemini exchange. With a lot of user traffic on the exchange, the volumes are poised to increase leading to more acceptance of the coin to unlock its hidden value. For any digital coin to grow more interaction with users is a must. This will help LTC reposition itself to challenge bigger coins like BTC and ETH.
The release of Litecoin Core had helped the coin stay afloat during the time when other coins were looking south. This is the stability you should look for in a coin before investing. Litecoin (LTC) is currently struggling in its recovery journey but Abra is expected to limit losses and support this smart contract backed coin.
It’s too hard to predict the future, especially when it keeps changing so quickly. LTC like any other coin is definitely a risky investment. However, as noted above, there are reasons to have faith that it will head a lot higher in the long term.