A P2P powered cryptocurrency Litecoin is a decentralized currency run on the open source platform. It was launched in 2011 and was one of the earliest altcoins in the crypto market. It is very much similar to Bitcoin.
This Litecoin is showing an impressive growth in the market when the rest of the currencies are getting hampered by the bearish market trend. Litecoin has been running at a progressing rate of 8 percent, leaving key cryptocurrencies behind. The market worth of Litecoin has gone beyond 46$.
When Litecoin is showing hopes to the market, Bitcoin is reacting with a flat trend. Since the moment Litecoin is surged by 30 percent is has stimulated a wave of hope and excitement in the market and has caused a widespread (but brief) digital asset rally.
Since Litecoin has gone beyond the worth of $3,700, it has been traded within the window of 3600s and has not shown any sign of a breakout. At the time of writing, BTC was showing a rare performance in the market with 0.00% movement. Just like Bitcoin, rest of the altcoins are performing flat too, except LTC, which is continuing its run and overtaking its own performance seen hardly 72 hours ago.
Coin price Watch says that Litecoin is presently valued at $47.3/ unit, which is 8.75% more compared to its past day. Many investors and market experts believe that this performance of Litecoin is occurring in relation to the anticipating & upcoming reduction in Litecoin (LTC) block reward. This has been planned to run on the Litecoin blockchain in around 200 days.
Like any other traditional stock market, the crypto market also gets influenced by the speculations and experts of the market. These people put their speculations and prediction which affect the market performance many times. So what crypto traders and experts are thinking about this continued rally of Litecoin?
Crypto Capital Venture, says that Litecoin’s seven days performance chart has some momentum going for. The organization is proving the point by showing the difference between when Litecoin started its rally in late-2017, and how the asset is performing at present.
The Crypto Lark, leading crypto youtuber was progressively open and transparent with his remark. He asked the followers what they think about the Litecoin and if it could be one of the best plays in this year. The reactions to Lark’s request were mixed.
Xinxi Wang of the Litecoin Foundation was very hopeful. He said that LTC is a long far away from dead, he underlined how the project holds the fourth position in crypto space.
After Charlie Lee announced the integration of chain security, the Litecoin maker posted on Twitter to uncover that he and his group are investigating Confidential Transaction and MimbleWimble technology. He later revealed that he has collaborated with BEAM.