Daily Litecoin News Update
While the broader crypto market remains plane, Litecoin is soaring on Monday morning. Litecoin prices are up more than 6.83% ter the trailing 24 hours and, at the time of writing, the LTC to USD rate wasgoed around $230.00. There are good reasons why Litecoin is one of the top performing cryptos today.
LTC price speculations are peaking on the high-heeled slippers of two major events.
The very first event is demonstrable. Today is the day when “LitePay” is eventually delivered to the market. The dearly-awaited payment processing service dedicated to boost Litecoin’s mainstream adoption is expected to be released straks today.
A secure wallet, a Visa-compatible debit card, and swift merchant processing are some of the excellent features LitePay will yield to businesses and consumers alike. Ter brief, this service will serve to bridge the gap inbetween Litecoin and fiat currency users, bringing them together on one verhoging. So, it’s understandable why investors are hoping for Litecoin to kasstuk a grand catapult following its launch.
Spil for the 2nd event, this one is intriguing. Speculators are putting their money on LTC after Litecoin founder Charlie Lee made a bold prediction on Sunday.
Lee predicts that Litecoin will surpass Bitcoin Specie te market value this year te an event dubbed the “flappening,” which puts a spin on the more commonly understood event: the “flippening.” Investors are chiming ter because it makes sense now more than everzwijn.
To reprint his precies quote, Lee said, “The flippening (ETH>,BTC) will never toebijten. But the flappening (LTC>,BCH) will toebijten this year.” (Source: “Twitter postbode,” @SatoshiLite, February 25, 2018.)
Just to be clear, the flippening is identified spil an event te which Ethereum will surpass Bitcoin to become the most valuable cryptocurrency. According to Lee, the odds of that happening are exactly zero.
The flappening, however, is another story. Mind you, Litecoin and Bitcoin Contant are archrivals. Both are touted to be Bitcoin substitutes.
Lee’s distaste for Bitcoin Contant is no secret. He has bot a very vocal tegenstander of Bitcoin’s hard-forked offshoot, BCH, and is often seen taking shots at Bitcoin Specie backer Roger Verafgelegen for referring to Bitcoin Metselspecie spil the “real Bitcoin.”
For those who toevluchthaven’t bot following the ongoing Bitcoin versus Bitcoin Contant saga, the two sides have bot te a perpetual squabble overheen which coin is the “pure” coin.
Bitcoin Metselspecie developers promote BCH spil the zuivere Bitcoin on the premise that it stuck with Satoshi’s original code by not adopting “SegWit.” They argue that Bitcoin corrupted Satoshi’s vision. Bitcoin enthusiasts argue that BTC has permitted for soft-forks like SegWit to better adapt itself to switching times.
Regardless, Lee’s prediction is based on solid ground. The disparity inbetween the Bitcoin Metselspecie and Litecoin market caps has bot narrowing of late.
The flappening could occur te two ways:
- Litecoin increases ter value to supersede Bitcoin Metselspecie. This could possibly toebijten spil Litecoin reaches the mainstream. LitePay will likely play the key role here.
- Bitcoin Specie drops te value below Litecoin. There’s a good possibility that this could toebijten because Bitcoin is fully adopting SegWit, which would make it much cheaper and swifter, overcoming the one shortcoming that led to the Bitcoin Contant hard fork ter the very first place. If Bitcoin solves its problem, investors will shun the Bitcoin imposter.
Both occurrences seem plausible, which is why Lee’s prediction doesn’t seem far-fetched.
Spil the “chikun” flaps its wings to take flight, wij foresee the flappening occurring spil much spil Lee does. If Litecoin were to attain Bitcoin Cash’s current market capitalization te excess of $20.0 billion, the Litecoin price would have to succesnummer somewhere close to $360.00, which is slightly lower than our LTC price target of $400.00. So we’re fully subscribing to Lee’s prediction, which only bolsters our Litecoin price forecast for 2018.