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Litecoin (LTC) Success During 2019: Double its end of 2018 Price

The silver counter-part to the golden coin – Bitcoin BTC: Litecoin LTC ranked fourth largest by coinmarketcap is definitely appreciating the same or even more rise of value during the first three months of 2019 compared to other leading cryptocurrencies.

Standing just below $60.00 on the 16th of March, 2019, the pair LTC/USD is counting an increase of 4.11 percent in the last 24-hours reaching the level of $58.89. With a $1.8 bln summed daily volume of transaction – Coineal, DigiFinex and Coinall are the leading platforms when it comes to LTC changing hands with another.

LTC
Source: coinmarketcap

This is the highest that the duo LTC/USD has been since end of September and beginning of October in 2018. If the value manages to close successfully above $60.00 it could possibly open a new chapter for the days ahead as it has also present a resisting level before.

An article published on Forbes has made a strong case for Litecoin (LTC), sitting at the fourth largest market capital position, flipping third-ranked XRP by the end of the year.
Bambrough, in his piece published on Forbes, believes that LTC price is responding to strong efforts by the Litecoin Foundation and developers to improve security and privacy for the coin, in addition to culling several high-profile partnerships.

“Litecoin volatility spiked when the Litecoin Foundation announced it’s exploring the integration of Mimblewimble, a protocol offering privacy and fungibility to blockchains,” a report by cryptocurrency brokerage SFOX read this week.
“In March, keep an eye on how privacy news moments impact markets, such as recent revelations over Coinbase’s third-party service provider selling client data.”

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Litecoin’s 130% Rally Since December Set Up Bitcoin (BTC) Halving Rally

Litecoin Boom Could Set Precedent For Bitcoin Rally

Litecoin (LTC) has recently embarked on a monumental rally. In the past month, the OG Bitcoin fork has moved from $33.2 from $55.4 — a gain of 66% amid bearish market conditions. Since seemingly establishing a bottom in late-December at $23.5, when BTC plummeted to $3,150 in a dramatic sell-off, the asset has posted 130% returns in U.S. dollars.

To put this jaw-dropping surge into perspective, within the same time period, the leading cryptocurrency moved from $3,150 to $3,900  — impressive but relatively lackluster. The same could be same for a majority of other cryptocurrencies.

While some argue that this is just LTC returning to a mean after falling from $380 to $24 within a year’s time, the network’s upcoming block reward reduction (halving/halvening) and the potential introduction of MimbleWimble or privacy-centric technologies have been pinned to the surge. And although altcoins pushed by fundamentals often move independently of BTC (in the short-term), CoinDesk’s technical analysis team claims Litecoin surging pre-halving may set a positive precedent for Bitcoin.

The outlet’s analysts claim that in the previous market cycle, which saw BTC plateau out at $1,200, LTC’s trend “became bullish well before that of BTC.” In fact, in this previous cycle, which also saw this market drawdown by more than 80%, LTC rallied by dozens of percent before BTC did.

While CoinDesk isn’t convinced that Litecoin has broken fully out of the bears’ vise, they note that if historical trends are followed, Bitcoin could begin to move the upside over the coming months.

What Else Is Going For BTC?

But what else is going for BTC at the moment?

Magic Poop Cannon, a seeming BTC permabull, recently took to TradingView to explain why he believes that the leading cryptocurrency remains in a “very clear cyclical uptrend,” in spite of the downturn seen last year.

He argues that the logarithmic uptrend line (seen in pink below), which is kept in place by two upper bound and lower bound trendlines, is still being held. Doing some calculations and historical analysis, Magic argued that while Bitcoin will range between $3,000 and $5,000 for much of 2019, the asset could begin to rally as the uptrend line begins to gain steam, as it were.

In fact, he notes that by August of 2023, if BTC holds above the aforementioned level of support, it will be worth right around $150,000 a piece.

Fundamentals are also strong:

  • The Ohio-based Kroger has revealed that it will be dropping Visa credit cards. Anthony Pompliano of Morgan Creek reached out, and began to discuss with a product manager at the company about the potential integration of Lightning Network.
  • More definitively, reliable sources tell The Block that Starbucks received a large stake in Bakkt in exchange for accepting BTC transactions in stores the world over.
  • Samsung, one of the world’s largest technology giants, has revealed that its Galaxy S10 product will offer a cryptocurrency wallet that is consumer-facing.
Photo by Farid Askerov on Unsplash

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EOS (EOS) Torch Awareness Raising Campaign: EOS/USD Price Let Down

Without a doubt during the day crypto-enthusiasts noticed a sudden, while speedy, surge of coin values against the US Dollar on exchanging platforms or price-informing sites which hoisted the total-global market capitalization from $130.5 bln to $133.0 bln.

During the upward movement the fifth largest by market cap Litecoin LTC/USD experienced the a double digit gain standing out among many other famous cryptocurrencies. Right in its tail was EOS [market cap – $3.4 bln ranked 4th] moving fast towards the major $4.00. However, as the buyers were cooling down it did not take much until the pair EOS/USD entered a range while slightly standing on the green most of the last 24-hours.

EOS USD

Just recently, the EOS community has launched an EOS-tech awareness raising campaign via a so called EOS Torch. With the concept of passing the just minted torch-token forward, the project is targeting of gaining bigger attention towards the network.

Even that the two projects do look very-alike by first sight the differences exists. Lightning Toch – users who hold/carry the token add a small amount of BTC while passing it with the means of a test of trust, EOS Torch – no monetary value and no reason to defect the process.

While it will take its own time to reach any parallel level of attention compared to that of Lightning, the EOS Torch’s impact is very much on question by many. The torch-campaign does make more sense for Lightning Network as it is a project that is targeting to make cryptocurrency transactions easier and faster meaning. For EOS, the standing out characteristic is Decentralized applications or DApps and not cryptotransactions.

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Crypto Enters The Ring: Litecoin (LTC) To Sponsor UFC Match

Litecoin Logo To Be Featured At UFC 232

Crypto startups are often known for their eccentricity. Snoop Dogg, for instance, was a featured performer at Ripple’s party post-Consensus. And Bill Clinton, yes THE Bill Clinton, was the keynote speaker at Ripple’s Swell event, which quickly gained notoriety in the cryptosphere as a sight to behold.

Most recently, as revealed by Charlie Lee, the creator of Litecoin and a long-time crypto diehard, the LTC logo will make its way onto the stage of UFC (Ultimate Fighting Championship) 232: Jones Vs. Gustaffson 2.

In an announcement released in tandem with Lee’s tweet on the matter, John Eidson, the director of marketing & communications at the Litecoin Foundation, explained that the aforementioned asset will become the “Official Cryptocurrency Partner” of the upcoming sports event, which will take place this Saturday (December 29th) in Inglewood, California. The match, which will be the last UFC contest of 2018, will see Jones challenge Gustafsson in a Light Heavyweight match.

Commenting on the rationale behind this sponsorship, Eidson explained that the Litecoin Foundation has intentions to continue partnerships with “great companies and brands” moving into 2019, making it logical for the cryptocurrency to “step into UFC’s world-famous Octagon now.”

The Foundation member went to subsequently draw lines between UFC’s upbringing and that of Litecoin, touching that the grassroots origins are something that crypto can resonate with. From a purely utilitarian standpoint, this sponsorship (which details weren’t divulged) will allow the LTC logo to be broadcasted worldwide, hopefully sparking some form of interest in the popular altcoin.

Charlie Lee Seeks To Bolster Crypto Adoption

Interestingly, this sponsorship isn’t straight out of left field. As reported by Ethereum World News previously, Lee, a former Coinbase engineer, told Bloomberg that he intends to focus on adoption in 2019, making this move (while still in 2018) an evident jab at bolstering Litecoin’s global presence.

In the interview, which was done one fateful year after he liquidated his personal LTC stash, the prominent crypto-friendly entrepreneur noted that he has his sights on increasing LTC adoption by merchants, rather than specifically focusing on the code. Although he was hesitant to provide an exact update on adoption, the long-time crypto advocate noted that he has begun to advise HTC’s Exodus project, which supports LTC via the world’s first blockchain-centric device.

With the Foundation’s recent milestone of (finally) opening a bank account, a labored task for any crypto-centric startup, maybe Lee’s dreams of adoption will be achieved in 2019.

Community Divided Over LTC

Although this recent sponsorship, coupled with Lee’s drive for adoption, should be admired and commended, some fear that LTC is poised to bite the dust.

Erik Finman, the world’s first [overt] crypto millionaire, who made his fortune off an early-stage investment in Bitcoin (BTC), recently told MarketWatch that LTC has been “quite dead for a while,” likening the asset to the Sun when it’s about to go under the horizon.

Crypto skeptic Bitfinex’ed claimed that Litecoin was “doomed from the start,” joking that the project, a Bitcoin fork, is taking a “perfectly good BMW (Bitcoin)” and replacing its wheels with smaller ones. This is, of course, in reference to the project’s quicker block times.

Title Image Courtesy of Marco Verch Via Flickr

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Ripple’s XRP Latest Wrapped Up: Double Digit Price Ascend

Right after the outstanding gain Yesterday showcased by Litecoin [LTC] against the US Dollar following the LightningNetwork – CoinGate announcement, the market took a turn and now it is welcoming an all green increasing day throughout the crypto-verse.

Read:

Litecoin [LTC] Differentiates itself from Bitcoin: Eye-opening Gain?

Per time of writing, the highest value hoist in the top-ten by market capitalization is experiencing the pair EOS/USD with 25.85% increase only in the last 24-hours. The aforementioned performance has brought the token’s price above the weekly highest leading to meet its next hurdle of $2.50

EOS related:

XRP, Stellar, EOS and Cardano Rated as The Best Coins by Weiss Cryptocurrency Ratings

Second only to the blockchain-pioneer, XRP is differentiating its position further away from Ethereum [ETH] by market capitalization as it has reached the $13.6 bln level today again [ETH – $9.9 bln].

Source: coinmarketcap – According to CMC the pair XRP is appreciating a value gain of 17.30% only in the last day. 

– Responding to a tweet from one of its users, TD Ameritrade Network commented that they are exploring the possibility of adding support for XRP trading and are actively working to make these kinds of ideas a reality.

– According to a public announcement published by GMT, Ripple and GMT share similar business philosophies, something that helped them reach beneficial terms after a prior discussion process:

“After a long and precise process GMT was chosen to be Ripple’s representative in Israel, by so joining Ripple, and its partners, in creating a global financial system, with high-end technology and values such as; transparency and affordable costs.

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Litecoin [LTC] Differentiates itself from Bitcoin: Eye-opening Gain?

Following Coingate’s twitter announcement on LightningNetwork being ready for deployment and set to be soon live on CoinGate, the crypto-silver jumped upwards gaining double digits in a matter of hours. Per time of writing the pair, LTC/USD is changing hands at $25.81 with 8.21% positive movement in the last 24-hours.

Source: coinmarketcap

Additionally, later on, the same day – the founder of Litecoin and much respected throughout the crypto-industry, Charlie Lee opened up about his mission of getting LTC on as many exchanging platforms as he can to boost and support the increase of its liquidity.

For all his followers, he made it known that one of the leading exchanges Gemini has initiated support for LTC.

Beginning of 2018 – Charlie Lee predicted that the “Flappening LTC>BCH” will take place this year while ETH>BTC will never happen as he believes strongly on BTC’s cemented place as the leader of the crypto-verse. On Friday afternoon, in the midst of a further BTC sell-off to $3,150, BCH began to capitulate hard, falling below key support levels and underperforming the market at large. At the same time, LTC began to undergo a slight recovery, bouncing off its year-to-date lows at ~$22.5, posting the only positive performance in crypto’s top 20.

The performance led to confirming Mr. Lee’s 2018 flappening forecast as Litecoin is positioned right now as the 7th largest coin by market capitalization.

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Tether (USDT) Flips Litecoin (LTC) In a Sign of the Times

Cryptocurrency, Litecoin (LTC), Tether (USDT)–As the crypto markets fall into another price rout to kick off the final month of the year, with the price of Bitcoin dropping below $3800, controversial stablecoin USDT has managed to flip Litecoin to become the seventh largest cryptocurrency by market capitalization.

Litecoin, the invention of industry mainstay Charlie Lee and often described as the silver to Bitcoin’s gold, has been in near continuous price fall since reaching an all time high of $350 in December 2017. While the coin has tracked value of Bitcoin closely over the year, moving in a similar direction as the number one currency by market capitalization, it was a series of related events that set off the precipitous price fall last December which led to the 91 percent drop in value.

The rise of Bitcoin Cash including the Coinbase listing fiasco led to a fast erosion of BTC pricing, as investors became unsure of which coin would reign supreme following the bull run. This had subsequent effects on LTC pricing, which, as previously mentioned, has typically moved in price alongside Bitcoin. In addition, founder Charlie Lee, who had established himself as an integral and beloved leader for the currency and community of LTC, announced he had sold his entire holding of the coin and would gradually be making efforts to distance himself from the project in an effort to promote decentralization. Charlie also made a series of Twitter posts cautioning investors to not get too greedy in the bull run, and to expect a severe bear market following that could last for several years (a prediction which has proven salient in the closing month of 2018.

While some came to the defense of Lee, stating that his actions would benefit Litecoin in the long-run by removing himself as the focal point for the currency, many investors felt that Lee had acted irresponsibly with his announcements, in particular given the timing of the sell-off coinciding with LTC reaching an all time high. The end result was a disastrous drop in price, similar to that experienced by nearly all altcoins throughout 2018, with the price of LTC extending well below what it traded for midway through last year.

Tether, the parent company behind USDT, has not been without its share of controversy this year despite seeing its token climb the ranks of market capitalization. USDT, unlike most cryptocurrencies, has its value pegged to that of a single U.S. dollar. While the currency is supposed to backed 1:1 with dollars held in reserve by Tether, a series of investigations and self-auditing has failed to provide definitive proof to investors, even with the company changing banks in November.

Given the severity of the bear market throughout 2018, it’s unsurprising that more development focus is switching away from market-valued cryptocurrencies to coins that provide similar features but with the price stability of an external source. Last month, EWN reported on a gold-backed stablecoin being featured in an article by Bloomberg on the the best investment advice for 2019. Just yesterday, Chinese crypto billionaire Li Xioalai provided an update on his position leading up a new stablecoin, despite previously making remarks that he would no longer invest in blockchain projects due to corruption.

While cryptocurrency adoption remains on the rise with most community members optimistic for 2019 and beyond, the rise of stablecoins could continue a trend that sees price-unstable coins, such as Bitcoin and Litecoin, failing to find favor for developers and those accepting the coins for marketplace transactions.

The post Tether (USDT) Flips Litecoin (LTC) In a Sign of the Times appeared first on Ethereum World News.

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Tether (USDT) Flips Litecoin (LTC) In a Sign of the Times

Cryptocurrency, Litecoin (LTC), Tether (USDT)–As the crypto markets fall into another price rout to kick off the final month of the year, with the price of Bitcoin dropping below $3800, controversial stablecoin USDT has managed to flip Litecoin to become the seventh largest cryptocurrency by market capitalization.

Litecoin, the invention of industry mainstay Charlie Lee and often described as the silver to Bitcoin’s gold, has been in near continuous price fall since reaching an all time high of $350 in December 2017. While the coin has tracked value of Bitcoin closely over the year, moving in a similar direction as the number one currency by market capitalization, it was a series of related events that set off the precipitous price fall last December which led to the 91 percent drop in value.

The rise of Bitcoin Cash including the Coinbase listing fiasco led to a fast erosion of BTC pricing, as investors became unsure of which coin would reign supreme following the bull run. This had subsequent effects on LTC pricing, which, as previously mentioned, has typically moved in price alongside Bitcoin. In addition, founder Charlie Lee, who had established himself as an integral and beloved leader for the currency and community of LTC, announced he had sold his entire holding of the coin and would gradually be making efforts to distance himself from the project in an effort to promote decentralization. Charlie also made a series of Twitter posts cautioning investors to not get too greedy in the bull run, and to expect a severe bear market following that could last for several years (a prediction which has proven salient in the closing month of 2018.

While some came to the defense of Lee, stating that his actions would benefit Litecoin in the long-run by removing himself as the focal point for the currency, many investors felt that Lee had acted irresponsibly with his announcements, in particular given the timing of the sell-off coinciding with LTC reaching an all time high. The end result was a disastrous drop in price, similar to that experienced by nearly all altcoins throughout 2018, with the price of LTC extending well below what it traded for midway through last year.

Tether, the parent company behind USDT, has not been without its share of controversy this year despite seeing its token climb the ranks of market capitalization. USDT, unlike most cryptocurrencies, has its value pegged to that of a single U.S. dollar. While the currency is supposed to backed 1:1 with dollars held in reserve by Tether, a series of investigations and self-auditing has failed to provide definitive proof to investors, even with the company changing banks in November.

Given the severity of the bear market throughout 2018, it’s unsurprising that more development focus is switching away from market-valued cryptocurrencies to coins that provide similar features but with the price stability of an external source. Last month, EWN reported on a gold-backed stablecoin being featured in an article by Bloomberg on the the best investment advice for 2019. Just yesterday, Chinese crypto billionaire Li Xioalai provided an update on his position leading up a new stablecoin, despite previously making remarks that he would no longer invest in blockchain projects due to corruption.

While cryptocurrency adoption remains on the rise with most community members optimistic for 2019 and beyond, the rise of stablecoins could continue a trend that sees price-unstable coins, such as Bitcoin and Litecoin, failing to find favor for developers and those accepting the coins for marketplace transactions.

The post Tether (USDT) Flips Litecoin (LTC) In a Sign of the Times appeared first on Ethereum World News.

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Litecoin (LTC) Finally Nears $70 Amid Multiple Positive Developments

LTC Nears $70 For The First Time In Weeks 

For the first time in weeks, Litecoin (LTC), one of the foremost altcoins in the cryptosphere, has made a move for the $70 price level, which it hasn’t breached in nearly a month. At the time of writing, LTC sits at $67.65 and is up a solid 3.3% in the past 24 hours. Although this move may seem negligible in the eyes of many cryptocurrency traders, LTC and Stellar Lumens (XLM) have both taken a leading position in today’s mixed market, with Bitcoin up 1.3% and Ethereum down 1.25%.

Many analysts expect for $70, which has proven itself as a line of psychological and technical resistance, to be LTC’s next roadblock to leap over in the coming days.

Chart Courtesy of TradingView

Although it is unlikely that there was an explicit catalyst for this move, many believe that a series of positive developments (which are as follows) have pushed the price of this asset higher.

The Upcoming Litecoin Summit 

As revealed by Charlie Lee, the founder of Litecoin and a well-known cryptocurrency personality, in an interview with CNBC, the San Francisco Litecoin Summit is just weeks away. When asked about what he wants for attendees to take away from the conference, Lee stated:

“I’d like to see more [talk around] Lightning Network and sidechains, ways of helping Bitcoin and Litecoin to scale. I think with the price depressed, it’s actually a good time for people to… get stuff done. That’s what I’ve seen in the past few bear markets actually.”

Many hope that the development of these technologies will bolster the long-term performance of the price of both BTC and LTC, as the two assets are complementary to each other. Responding to Lee’s statement, CNBC Fast Money panelist Brian Kelly noted that this conference has a possibility to also be a short-term catalyst for the price of LTC.

While the market didn’t surge during (or after) Consensus 2018, unarguably crypto’s biggest get-together, some optimists hope that the upcoming Litecoin-centric summit could spark the crypto market’s next bull run.

Abra Introduces Fiat-To-Crypto Support For Bitcoin, Litecoin & More

Although this news could be seen as a positive signal for the entirety of the crypto market, Abra, a popular mobile-focused alternative to Coinbase, has just announced that residents of the SEPA (Single Euro Payments Area) can directly deposit fiat into the app, which should make buying the 25 cryptos listed a breeze.

In a Twitter announcement, the California-based startup wrote:

“Excited to announce that Abra is starting the launch of in-app European bank purchases of Bitcoin and 25+ cryptocurrencies for consumers across 28 countries.”

Hopefully, this new feature will help to drive the adoption of cryptocurrencies in general, as an easy-to-use, accesible, and efficient method of buying crypto assets, like Abra, is needed in a time where this nascent industry is widely misunderstood.

Casa Begins Work On LTC Support For Q4 2018 Release

Litecoin’s founder, who has been outspoken about his affection towards both the Bitcoin and Litecoin projects in the past, recently asked Casa, a popular Bitcoin-focused infrastructure firm, if its products would natively support Litecoin in the future.

Responding to Lee’s tweet, the startup has just revealed that it is, in fact, working on Litecoin support for its publicly-available Lightning Network Node. The firm intends to release Litecoin support during early Q4 of this year, which will evidently help to drive the growth and development of the long-awaited Lightning Network and atomic swaps.

Title Image Courtesy of MaxPixel
Girl in a jacket

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TRON (TRX) With Excitement Accepted at Bitcoin Superstore: The Crypto-Community’s Choice

TRON’s TRX Available

The 12th largest digital coin by market capitalization – TRON (TRX) is listed under available payment options at any Bitcoin Superstore. Going by the people’s vote TRON‘s TRX was chosen to be included as a way to pay in 200,000 stores by Bitcoin Superstore.

See Also: Ripple’s XRP Added by Bitcoin Superstore

To buy the item you want from Amazon, users log onto the Bitcoin Superstore, paste the URL of the item they want, enter their shipping details, and check out with their cryptocurrency of choice. Bitcoin Superstore then takes care of the rest, and can handle returns as well, if necessary.

From the companies team:

“Our customers can buy from Amazon, Google Express, Walmart.com, and any other online retailer who does not charge a membership fee. Our team is behind the scenes, receiving orders, and ensuring the purchase, shipping, and delivery go smoothly. We are the customer’s interface from start to finish.”

The token is another addition to the already accepted BTC, BCH, ETH, LTC and XRP.

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