Litecoin (LTC): Will We See A Roller Coaster Ride This Week?
It has been weeks of turmoil for the steady Litecoin (LTC) but things seem to be on the upward trends after Charlie Lee predictions on the coin's future. With the launch of LitePay today, the cryptocurrency landscape will never be the same again.
It has been weeks of turmoil for the steady Litecoin (LTC) but things seem to be on the upward trends after Charlie Lee predictions on the coin’s future. With the launch of LitePay today, the cryptocurrency landscape will never be the same again.
Litecoin (LTC) prices seem to claw back after weeks of loses to surpass their earlier all time high of $222.88 to hit a new milestone of $227.37 today with a good run of 9.34% in the last 24 hrs. This seems to go against the odds and a good indication that the anticipated launch of LitePay today will push the prices higher.
Litecoin (LTC) Market Penetration and Performance
With a market capitalization of $12.5 billion, Litecoin is ranked number five and challenging for a higher rank. Over the last 24 hours, $1.3 LTC coins have already exchanged hands according to reports. The most active exchanges are OKEx and Coinbase’s GDAX each accounting for 31% and 11% days turnover.
Litecoin (LTC) performing comes at the backdrop of the creation of Litecoin Cash (LCC) which has not been impressive to date. LCC hit an all-time high of $9 immediately after the February 18th fork and it seems to dip down further; it is trading at $3.09 after shedding a further 6.11% in the last 24 hours to remain in the red.
The Charlie Lee Prediction Equation
Charlie Lee, founder of Litecoin on his twitter handle (@SatoshiLite) predicted that Litecoin is going to beat Bitcoin Cash (BTC) by close of the year. The ETH/BTC trends have not been holding steady compared to LTC/BCH and this could drastically change the crypto landscape. However, BCH value is higher than that of LTC; with the recent market crash, anything can go the Litecoin way.
Litecoin has been casted positively in the news and the prediction seems valid. LitePay launch today is a clear indication how the projects is poised to gain traction to challenge Bitcoin Cash. LitePay is a game changer in making payment and fundraising projects; it will enable the e-commerce and retailer to make instant payments whilst offering fundraisers a platform to raise funds.
With LitePay, you now store your LTC tokens in their native LitePay wallet and with a small fee of1%, convert your fiat instantly. Unlike Bitcoin Cash, Litecoin offers you a real world App; you can link it to your bank account and make and receive payments directly or just use it to receive payments from your customers from anywhere in the world.
Litecoin Cash (LCC) after the Fork
Litecoin Cash (LCC) seems to have been overshadowed by Litecoin prediction and the launch of LitePay. This might explain the reasons why the new outfit is underperforming and no much fanfare around it. With the price going down soon after forking, it shows lack of investor’s awareness and near zero adoption from the masses.
The initial valuation of LCC was at $1.4 but the price got big backing from the fork to high of $9around February 20th and has since been on the red trading at $3.09 at the time of writing. However, given the current volatile environment in the market, this could still be a good springboard for a new coin.
Litecoin (LTC) seems to be the gainer from the form with majority investors staying put making the LTC value to increase significantly. However, with cryptocurrencies, logic has that you need to secure your digital assets with the larger player after any fork.
The Litecoin/Litecoin cash fork was seamless and as such did not attract a lot of media attention. This is a close community and the silence is a good calculated measure to allow LTC to attract adopters and gain traction that will lead to the stability of the coin in the future. This avoids a bubble scenario with time.
Listing of LCC has been slow especially with large exchanges and once the adoption picks; Litecoin Cash will cut itself a niche and surpass other older Altcoins. This is good for Litecoin (LTC) to launch the LitePay platform. This is why Charlie Lee’s prediction is seen as a distraction from LCC and put LTC LitePay project launch on the lime light, at least for now.