Few coins other than the top two can claim to have a wider community than Litecoin (LTC). As such, the community’s support of this coin has always seen it hold its ground in the face of adversity.
That strength was evident again these past two weeks as a twin assault on its position, by first EOS (EOS) and then by Cardano (ADA), failed to dislodge it. Now it’s time Cardano retreated because LTC ship is portside.
Cardano is a decent project whose vision could see it inch closer to becoming a top cryptocurrency in the future. Its goals in the smart contracts and dApps field are great and no doubt present a solid platform for adoption.
It’s one of the coins that have shown consistency in 2018, surging as the milestones in its ambitious roadmap get completed. Anyone who has taken time to research into the Cardano project will attest to an honestly growing initiative.
Their audit report that came out a few days ago reinforced the reputation of trying to stay above board. In IOHK, Emurgo, and the Cardano Foundation, the crypto has one of the best teams going forward.
Fundamentally, the project appears to be hitting the correct buttons. And this will help it attain some traction when its Shelly release takes shape. At the current price of $0.25, ADA could be an attractive investment.
However, for all its positives and future market indicators, there’s no debate that Litecoin is on top and it would need some serious work to topple it. Why is LTC better than any other altcoin on the market? Like I mentioned earlier, other than Bitcoin, Ethereum, (and maybe Ripple), no other coin has gained more traction.
Litecoin (LTC) could be unstoppable
There is always a possibility that LTC could end up being the cryptocurrency that gets adopted as the digital currency for all mainstream digital payments. The rate at which this coin is being listed on world exchanges adopted and accepted as a payment method keeps gaining speed.
The latest that could account for a larger share of increased value is the Korbit listing.
Like many other cryptocurrencies, LTC prices took a tumble over most of Q1, falling to lows of nearly $100. However, the bearish trend hasn’t peaked on the US Tax day as it had been anticipated, ostensibly fueled by a massive sell-off. What appears to be happening is that Litecoin has picked a fine bullish trend and could be poised for a good run in the coming days.
Though this bullish trend could be short-term, the expectation is that the coin will have gathered enough support to wither any negative effects of a reverse.
Litecoin’s current upturn is riding on further good news regarding today’s listing and trading on Korbit. This exchange is one of the most popular sites in South Korea, supporting Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), and Ripple (XRP). Litecoin will now benefit from exposure to more adoption and use in one of the countries with the largest market for crypto.
Trading on Korbit has bolstered LTC prices, the crypto surging by over 6% to beat the big four in gains during the Asian hours.
Recognizing the importance of this listing to Litecoin, Charlie Lee tweeted that he would give away a total of 100 LTC to the top trading addresses in the week following the listing. This is what he said:
The top-ranked trader would receive 50LTC, 25 LTC to the next one, and 10LTC to the 3rd ranked trader. The addresses of those that emerge 4th to 6th will each be sent 5LTC. It emerged that the promotion was limited to those who trade the LTC/KRW pair.
The boost in price sees the crypto gaining a further +1.79% this morning to climb to $137 against the USD and +1.62% against BTC. This strong push should see it consolidate its efforts to regain lost ground towards new highs.
Another LTC debit card!
The news that LTC could be in line for another go at getting a debit card is a sure cause for excitement. There’s a chance that Wirex could be looking at developing such a card for use with Litecoin.
This claim follows hot on widely circulated reports that TenX was in the process of doing the same thing. Though expectations are somewhat tempered due to the experience of LitePay, any efforts to have this successful could be massive for Litecoin (LTC). Even if it doesn’t happen now, the huge support for this coin means that its future is bright indeed.