Throughout the beginning of 2018 we’ve been hearing nonstop speculation on the decline of cryptocurrencies.
Litecoin does not apply to this apparent decline, as mid-February litecoin went through a massive 65.17% value increase.
Litecoin revealed plans for payment functions, which will make it easier to receive crypto payments.
This week a gain of 10.86% occurred while other cryptocurrencies dropped.
Litecoin token value has gone up to $245.74 on CoinMarketCap, at time of writing.
Its current market cap stands at $15.7 billion
Litecoin’s current state
One of the main reasons why litecoin has been such a strong performer is the creation of litecoin. The new token was distributed to litecoin holders at a 10 for 1 rate.
Liteplay is also a strong factor to their growth.
The liteplay platform also makes it easy for litecoin payments, so merchants and businesses can accept Visa card transactions.
This will allow litecoin to be more widely used on the market, while increasing the crypto’s prospects.
Liteplay will remove cryptocurrency volatility issues which have proven to be a huge concern that has prevented various cryptocurrency transactions to take place.
Litecoin’s biggest challenge is facing problems with widespread acceptance.
This is a problem not only litecoin has to deal with, but all cryptos.
Litecoin founder, Charlie Lee addressed rumours that litecoin cash was a ‘hard fork’, tweeting:
‘The Litecoin team and I are not forking Litecoin. Any forks that you hear about is a scam trying to confuse you to think it’s related to Litecoin. Don’t fall for it and definitely don’t enter your private keys or seed into their website or client. Be careful out there!’
Litecoin has been ranked as the fifth largest digital currency by market capitalisation.
It has increased by nearly 5,000% in value since the beginning of 2017. And continues to increase over time.
Litecoin is a strong crypto, but bitcoin has always remained the king of cryptos. Before trying your hand at cryptocurrencies, it’s important to do the necessary research. Sam Volkering from Money Morning has all the key information on bitcoin in his free report ‘5 Things You Must Know About the Real World of Bitcoin and Cryptocurrency’.
For, Money Morning