The world’s 6th largest currency, Litecoin [LTC], founded by Charlie Lee has not been exception in the market crash. Considering a negative flood in the market since the last two days, LTC has been falling continuously too just like every other coin with a total of almost 22% dip over the week. But, since yesterday LTC is one of the only single digit looser apart from Stellar and Bitcoin as all the others have witnessed double digit crashes.
LTC is currently priced at $133.47 and holds a market cap of $7.5 billion. When the top coins are observed keenly, LTC it is not factually wrong to state that Litecoin has been pretty strong without a massive fall like the others. The price range since yesterday has been a downslide between $144.21 to $132.96 being the least.
On the other hand, exactly a year ago on May 7th, Segwit (segregated Witness) – a soft fork update was activated after endorsements by Litecoin which the founder tweeted with rejoice recollecting the first Segwit transaction on Litecoin being a memorable moment for him and his team along with the Bitcoin community.
The first publishing by him with his vision for Segwit and Lightning networks on Litecoin [LTC] and Bitcoin was in the beginning of January last year. They have come a long way with various ups and downs which are a part of any journey. Litecoin is listed in about 400 exchanges with OKEx, GDAX, Bitfinex, Binance, and Huobi to name a few popular ones with the most popular trading pairs being LTC/USDT and LTC/BTC. OKEx alone accounts to more than 28% of the total trading volume of Litecoin.
They have also been running campaigns recently with the most popular hashtag, #paywithLitecoin which allows users to buy various products from multiple stores using Litecoin just like they do with any other currency casually. Abra, the worlds first mobile cryptocurrency wallet which has support for almost 25 cryptocurrencies includes Litecoin. Their recent announcement came into light as they mentioned their next update with the support for LTC deposits, withdrawals, and USD wire transfers in its next update.
Andy Bouri, a Twitterati says:
“This Is a start but need to show people how you can pay with Litecoin setup for business and actual transfer from party to party.”
Litecoin enthusiast, Litecoin Lucas tweeted:
“Wow! This is great! Well done and professional great job guys!”
Thomas Schulz, an LTC holder commented:
“Litecoin is leading the movement of crypto payment methods! Gonna be an exciting future.”
Franklyn, an LTC supporter says:
“The grassroots #paywithLitecoin campaign is a testament to the strength, interest and demand from the people who really matter, the end users. And it just keeps on growing.”
Another stand out feature for Litecoin is their Loaf Wallet, a standalone LTC wallet developed for Android and iOS by Charlie Lee and maintained by the Litecoin Foundation team members. Being an open-source HD wallet, allowing restoration of funds using a 12-word backup seed key, the loaf wallet is one of the best and the most popular wallets used to store Litecoin [LTC].
This information should not be interpreted as an endorsement of cryptocurrencies or a recommendation to invest. Historic performance is no guarantee of future returns. As an investment class, cryptocurrencies are speculative investments and investing in cryptocurrencies involves significant risks – they are highly volatile, vulnerable to hacking and capital loss and sensitive to secondary activity. Before investing you should obtain advice and decide whether the potential return outweighs the risks.
Nikhil is an engineer whose technology interests and writing hobby has attracted him towards blockchain and cryptocurrencies. Apart from being an author, game development is his passion.