Posted on

EOS (EOS) Tackles Litecoin (LTC) On Coinmarketcap.com

Back on April 12th 2018, EOS (EOS) was fighting for the number 5 spot with Litecoin (LTC) in the cryptocurrency markets as illustrated by coinmarketcap.com. On that day, EOS had seen a good 32% jump in value in the markets and was trading at $8.76. The token’s marketcap had also eclipsed that of Litecoin (LTC) by a good $272 Million. But LTC was able to reclaim the position a few hours later.

The same EOS has once again edged out Litecoin from the number 5th spot. EOS is valued at $11.71 per token with LTC doing an impressive $151 at the moment of writing this and an effort that is not enough to keep up with a surging EOS. The difference in market capitalization between the two has now increased to almost $1 Billion. EOS’ market cap stands at $9.474 Billion with that of Litecoin trailing at $8.499 Billion.

Also to note is that EOS has done an impressive 10% increment in 24 hours.

When compared to the tokens value on the 12th of April and before it started surging at the markets with a value of $6 on April 11th, we see that EOS is about to do 100% gains when it hits $12. This gain is in a time period of less than 2 weeks. How impressive is that?

Both LTC and EOS are good projects in terms of vision and objectives. EOS is readying for the release of the first version of its MainNet, EOSIO 1.0, in June this year. The exact date is still in the speculation phase but once live, the platform might be the much anticipated Ethereum killer in terms of smart contract capability, security enhancements, ICO preference and being developer friendly.

LTC on the other hand is still gathering momentum that will allow it to recover from the Litepay debacle earlier this year. Currently, the Litecoin foundation and TenX have partnered to release a co-branded card later this year after silently adding LTC support in TenX wallets available on Android and iOS.

In summary, EOS is gathering some serious momentum and the top might be in sight.

Posted on

Litecoin (LTC) and TenX To Launch Co-Branded Card

The Crypto rally in the markets continues to be strong with the King of Crypto, Bitcoin (BTC), trading at an impressive $8,753 at the moment of writing this. Ethereum (ETH) is still going strong at the number 2 spot and valued at $589. Ripple (XRP) is still aiming for the $1 mark with continual flirtations with $0.90 and currently trading at $0.867. With respect to our beloved Litecoin (LTC), it has been edged out once again from the number 5 spot by EOS. Both are valued at $145 and $10.67 respectively.

But all is not lost with Litecoin (LTC). Less than two weeks ago, the Litecoin foundation and TenX annnounced that they have been working on what can only be termed as a godsend for Litecoin. They had managed to keep the news secret up until now.

Firstly, the TenX wallet now supports LTC on both Android and iOS. Secondly, the two organizations are working towards introducing a co-branded card according to an announcement on the TenX blog. They say:

“We are also excited to announce a new partnership; we have reached out to, and are working with the Litecoin Foundation to introduce a co-branded card for which more information will be available soon. We hope to become the preferred payment platform for fans and owners of Litecoin, and cannot wait to see you use our wallet and join the revolution!”

This reiterates a theory that was postulated by Ethereum World News that Litecoin was not dead despite not launching Litepay earlier in the year and eventually cancelling the project.

But the Litecoin project is still alive and LTC is still a viable coin for major profits this year. The TenX news adds to earlier news of Abra picking Litecoin as their primary asset moving forward for the company’s smart contract investing solution.

What remains to be seen, is how long it will take for the momentum of Litecoin to peak up again for the coin and project still shows some promise in the crypto-verse. Earlier internet speculation had put LTC at a value of $1,000 by the end of the year. Perhaps it is time to sit back and wait for these predictions to materialize.

Posted on

After Rejecting Litepay, Mastercard Patents Its Own Blockchain Technology

Blockchain technology is gaining traction amongst mainstream financial service providers as the technology guarantees security, decentralization, cheaper transaction fees and faster ways of sending funds across the globe. Mastercard has also not been left behind in these developments. This is after it was rumored as being one of the payment card providers that refused to support Litecoin (LTC) and its Litepay project.

Mastercard has filed a blockchain system patent to store and verify identity data. The patent application was published on the 12th of April this year. In the abstract of the patent application, the team at Mastercard describes the patent in its intricacies. The team states that traditionally, proof of identy had been provided via government identification, credit cards and business cards and that such proof may be inaccurate or fabricated through fraud. They propose that there is a need for a technical solution to provide for the immutable storage of identity and credential data in a secure and verifiable manner.

This news is less than one month after Mastercard declared it had no interest in any cryptocurrencies unless they were backed by a Central Government somewhere in the globe. Ajay Banga, the CEO of Mastercard had been quoted as labelling all other cryptocurrencies without government backing as being ‘junk’.

The patent application proves that most financial service providers back the technology of blockchain but still continue to be against the current and major cryptocurrencies in the market. Perhaps this is a case where the big financial institutions are a bit afraid of the potential of crypto, that they want to talk ill about them. They would then proceed in launching their own technology on the blockchain and marketing it to the masses.

Litepay was a good idea and had planned to revolutionize crypto by allowing owners to use them for day to day transactions like the regular fiat and debit or credit cards. Users were to load their LTC onto the Litepay cards and use them for regular transactions. The currency conversions were to be done by the service in the back-end software. Price predictions before the Litepay cancellation had even put LTC at $1,000 by the end of the year.

[Photo source, PYMNTS.com]

Posted on

Tenx Adds Litecoin [LTC] To Its Wallet App, To Produce Litecoin Debit Card

LitecoinThe news that Litecoin is being added to Tenx does not come as a shock because from inception, the cryptocoin is living up to the recent billings attached to it, that it is the 3rd most popular coin in America, according to a survey among 1000 millennial in America.

Although Ripple is known to be world’s third most valuable cryptocurrency behind Bitcoin and Ethereum, but the survey ranked Litecoin above the Cross-border specialist cryptocurrency. Even though Litecoin is presently listed on Coinbase, one of the world most important exchange, the altcoin sees this as no big deal, and it is by no means hitting the sack, whereas it is on the run with no hesitation.

The recent Litecoin-TenX partnership has fashioned the initiation of a new development for the Litecoin, off-shooting the cryptocurrency to a new height.

On Wednesday, April 11, 2018, TenX, a virtual currency tagged to be “spendable anytime anywhere” aired a statement on Twitter that:

“Some #TenX updates regarding @LTCFoundation and @BlockfolioApp

While confirming the disclosure elaborately, Charlie Lee the creator of Litecoin, and an Ex-Director of Engineering at Coinbase also tweeted that Litecoin’s currency, LTC has been added to TenX wallet.

“TenX recently added LTC to their wallets, and we are working with them to launch a Litecoin debit card. Stay tuned for more information. LitePay who”?

TenX, in another statement disclosed their excitement over the new partnership, with hopes it will step up their services and acceptability.

“We are also excited to announce a new partnership; we have reached out to, and are working with the Litecoin Foundation to introduce a co-branded card for which more information will be available soon. We hope to become the preferred payment platform for fans and owners of Litecoin, and cannot wait to see you use our wallet and join the revolution”!

TenX further stated that it is supporting Litecoin and it has added LTC to its wallet app for both iOS and Android.

eGifter Now Accepts LTC

While rejoicing with Litecoin over Litecoin-TenX development, that seems not be a dead end for the altcoin as eGifter now allows users to buy gift cards with LTC.

This was also made known in a Wednesday April 11, tweet released by Charlie Lee. He stated, “eGifter now accepts LTC for purchasing gift cards. They are using @AliantPayment. Thanks for supporting Litecoin”

Posted on

What Happens Next For Litecoin (LTC)?

Charlie Lee, the founder of Litecoin (LTC), issued a public apology for the complete and abrupt shutdown of Litepay. The revolutionary payment option was scheduled for release on the 26th of February this year.

However, due to technical issues regarding finding a card service provider to partner with, the release was postponed indefinitely and eventually cancelled. Litecoin (LTC) had shown tremendous promise in the markets as the release date in February approached. It was trading as high as $247 per LTC on February 21st. With no product to keep the volume up in the markets, the price has gradually plummeted to current levels of $122 at the moment of writing this. This is a drastic 50% drop in value.

So what is next for the coin that was a fork of Bitcoin back in 2011?

For starters, the team at the Litecoin Foundation need to go back to the drawing board. This is after Mastercard openly stated that it would only partner with a government backed cryptocurrency and referred to the rest of crypto in the markets as pretty much ‘junk’. The bright side of this statement is that it suggests Mastercard is anticipating the release of a National Digital Currency somewhere on the globe apart from the Venezuelan Petro. Such an event would go further to validate all crypto as legal tender.

In light of such a statement by Mastercard, Litecoin (LTC) should consider partnering with perhaps a Crypto project geared towards solving the same real life problem Litepay was intended to solve. One such project is Crypterium (CRPT) that uses a mobile friendly app to process crytpo payments at point of sale terminals. It does this by converting the crypto in its wallet to regular fiat during the transactions. It does this without the need of physical cards. Therefore, no need to negotiate with Visa or Mastercard.

A second option for the Litecoin team, is to continue with business as usual without the Litepay project. Charlie Lee had in January expressed his vision for SegWit and Lightning Networks on the Litecoin platform. The team has an exciting road-map ahead with the recent release of Litecoin Core 0.16.0 to kick start progress moving forward.

Posted on

Litecoin Payments Startup That Won Trader Favor Abruptly Shuts Down

Would-be Litecoin merchant processor LitePay has abruptly terminated its operations, the Litecoin Foundation announced in a post on its website on Monday.

LitePay – which also claimed it would offer a crypto wallet and “LitePay debit card” through which users could convert litecoin into U.S. dollars – was unveiled in December of 2017 and set to launch in February of this year. Data from OpenGovUS shows that LitePay Inc. started operating on February 1.

The proposed business venture had won plaudits from the Foundation previously, which took to Twitter in December to write: “Finally, someone is taking the opportunity to create litepay.us. Good job!”

However, as of February 26, LitePay had only started to roll out its merchant service, according to a post on Twitter. The last public messages from the company related to a mid-March Ask Me Anything session on Reddit, and an email account listed on LitePay’s website did not reply to a request for comment by press time.

The foundation, which oversees development of the cryptocurrency, said in its post that it contacted the business’ founder and CEO, Kenneth Asare, following the AMA on March 16, expressing concerns regarding the “less than transparent nature” of LitePay. It was then that Asare revealed that he had decided to halt operations and planned to sell the company.

The Foundation’s post further explained:

“It was at this time that Kenneth asked the foundation for more funds to continue operations. The foundation refused any further funding as he was unable to provide a satisfactory picture of where the money had been spent and refused to go into exact details about the company and show objective evidence to back up his statements.”

Both the Foundation and litecoin founder Charlie Lee expressed regret for their support of the project.

“Like everyone else, we got too excited about something that was too good to be true and we optimistically overlooked many of the warning signs,” Lee wrote on Twitter. “I am sorry for having hyped up this company and vow to do better due diligence in the future.”

The Litecoin Foundation made a similar statement in its post:

“We are greatly disheartened that this saga has ended in this way and we apologize for not doing enough due diligence that could have uncovered some of these issues earlier. We are currently working hard to tighten our due diligence practices and ensure that this does not happen again.”

Nonetheless, the Foundation struck a hopeful tone.

“Litecoin was doing perfectly fine before the promise of LitePay and will continue to do so,” it said.

Litecoin image via Shutterstock

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Posted on

Litecoin Litepay Feature to Find Adoption in 2018 – Bullish Sentiment

Like the leader Bitcoin [BTC] and all other following altcoins, the token-prices have been experiencing ups and downs very often in a very short amount of time. Litecoin – the fifth largest digital currency by market capitalization [above $9 billion] is feeling the pressure which is building up around authorities towards cryptos in a global scale concluding with struggle to keep a stable price increase.

A price hoisting factor for LTC against the US Dollar was the Litecoin Cash hard fork that the network underwent, however the market in general went through a pump and dump phase in which very low trading levels were felt. The announcement that Litecoin (LTC) will launch LitePay; a payment card system for purchasing goods and services caused a $2 bil increase in market cap.

The above mentioned system – LitePay, made by the team supporting Litecoin – is a payment processor to make LTC changing hands with gov-issued traditional money [in a global scale] easier. As required, the service is developed in that way to be straightforward to use and flexible for any firm that has crypto-payment options in its roadmap.

For the time being, firms and merchants do not find ease at delivering their service to users that hold crypto which intend to pay using that asset because cryptocurrencies do move in price a lot and there is no framework that enables transactions to be completed fast, convenient and flexible. Which is why, the developers of Litepay created the certain system to be the first crypto-payment platform that instantly converts the currencies.

Because of the convenience that giants like MasterCard and Visa have delivered to their users, many prefer the two systems above many. However, Litepay can reach even higher keeping in mind what technology it is supported on – Blockchain. The incorruptible nature of the blockchain safeguards the security of the funds on the cards. The card will be linked to the digital asset and can also be used to make online payments on sites such as Amazon.

It is obvious that no one has the will to pay high rates of fees when they send money or make any sort of payment. The Litepay system is designed in that way that it is in direct contact with the local banking institution to find the best rate to exchange the currencies. Which is why, in contrary to the standard 3% commission, the rate has been capped at 1%.

LitePay will be the system that brings cryptocurrency to the investors and business owners in 2018, and its adaptability is expected to be widespread.

Posted on

Litecoin Cemented Position and Recovery Strength Parallel with the Leading Coins

Many enthusiasts, just-starters and traders in general talk a lot when it comes the recovery stability and speed of major cryptocurrencies like Bitcoin or Ethereum [coins at the top of the list by market capitalization] which is a very important factor that supports confidence throughout the community and market.

The best example of that characteristic would be the history-marking dip that took place after the end of Dec 2017 spike at which point Bitcoin and following altcoins rocketed together with the global range market cap from $145 billion to $757 billion. Post-dip, coins are showing quite stable recovery patterns while getting back on track. That marks a 5-times gain by the market capitalization while almost all coins did the same in value or even more. Very specifically, Litecoin was pushed upwards from its struggle to overcome once and for all the $50-$60 to the heights of $363 against the US Dollar. The above mentioned characteristic of recovery stability was of the same manner showcased by Litecoin like Bitcoin and Ethereum [Ethereum dropped from $1430 to $579 while now it is trading just below $1,000].

Now, however, with BTC at $10,790 and ETH at $933 at press time, Litecoin’s current value at $217 shows that is is proving similar resiliency to BTC and ETH, having regained 150 percent of the 307 percent drop after the recent cryptocurrency slump, while ETH has gained 135 percent of its 246 percent drop and BTC has regained 170 percent of its 308 percent loss.

The San Francisco-based payment processing firm – LitePay, which is a project by Litecoin Foundation [Singapore based] that has Charlie Lee [Litecoin founder] listed as its board president, announced that it will be launching LitePay and it will be operational from Feb 26 for transactions using LTC. Many give credits to this move for helping LTC price rebound faster and stronger as in just three days LTC climbed from $162 to $233.

However, LitePay offers to rival the popular BitPay, one of the world’s largest Bitcoin payment processors. By 2014, BitPay had begun processing more than $1 million daily, according to news reports, and it boasts a portfolio of merchants who use it that includes Subway, Sears, Gap, Dell, Home Depot Office Supply, and many more. This use case for Bitcoin has helped give stability to the coin and has helped it earn respect in the mainstream community.

For quite some time now, the community which follows Litecoin did ask for BitPay to add a service for Litecoin, which the platform never did so LitePay stepped in and could hoist the popular profile which Bitcoin appreciate for Litecoin too.

Considering that the announcement of the February 26 launch for LitePay has helped Litecoin rebound considerably, the imminent February 26 launch for LitePay promises to further solidify gains.

With the innovative applications [Like LitePal and LitePay] and price flexibility to recover that Litecoin is showcasing regularly in par with the leading cryptocurrencies – Litecoin does look more promising than ever before while keeping strongly up. So, stay on radar On for any team/company announcement that is related to Litecoin and the big Feb 26 date – a positive market resonance may take place.

Posted on

Litecoin’s Price Jumps Nearly 35 Percent in 24 Hours Ahead of LitePay Launch Date

Fifth-placed cryptocurrency Litecoin saw its value rise by nearly 35 percent in a 24-hour period today ahead of the LitePay launch.

In an announcement on Twitter, the San Francisco-based payment processing company said that it would be launching on the 26th February. As a result, prices earlier today saw Litecoin jump to $218, according to CoinMarketCap. This gave it a LTC/BTC trading price of $0.0235 BTC, higher than what it achieved in July 2015, at 0.0280 BTC.

At the time of publishing, it’s trading at $210, giving it a market value of $11.6 billion, and pushing it into fifth place.

Significantly, Charlie Lee, the creator of Litecoin, took to social media to say:

“LTC/BCH has just surpassed 0.02. This is higher than when I sold my litecoins. In other words, LTC has outperformed BTC since that time. Just saying!”

LitePay, which has a similar website layout to that of bitcoin payment provider BitPay, will be offering many of the same services to that of the Atlanta-based provider. One of its features will be to allow businesses to accept Litecoin payments. It will also issue a LitePay debit card to be used anywhere.

According to LitePay, people were asking BitPay to accept Litecoin, but when they refused LitePay was born taking on the challenge of providing a platform instead.

“I have always thought of Litecoin as a sleeping giant,” said David Motta, Internet entrepreneur, investor, and CEO of business consulting firm, ACQURE Business Solutions, speaking to Ethereum World News. “However, between rumours around Microsoft planning to use it on their decentralised identity system and with the recent developments of the LitePay technology focused on allowing businesses to start accepting Litecoin payments and Litecoin debit cards, this might be the bold move that brings Litecoin into the mainstream.”

Motta added that ‘the chicken is about to rise.’

This, however, is one reason why Litecoin’s price has seen a bump in value. Reports are suggesting that it could also be linked to an announcement that an unaffiliated organisation is going to hard fork the main Litecoin blockchain to create Litecoin Cash on the 19th February.

Notably, however, Lee announced a week before that any fork of litecoin ‘is a scam trying to confuse you it’s related to Litecoin.’

Back in January, Lee said:

“Since on the topic of scams, any fork of Litecoin, calling itself Litecoin something or other, is a scam IMO. Litecoin Cash, Litecoin Plus, Litecoin *… all scams trying to confuse users into thinking they are Litecoin.”

He also said this applies to all bitcoin forks trying to confuse people.