The weekend started off very welcoming for the cryptocurrency market in general as almost all coins are in the green gaining zone. Any drop/decline or bearish movement is spread evenly across the networks which could conclude with the confidence around the ecosystem to stay high afloat and the prices to continue picking up the next days.
One of the digital currencies that has a giant support from the team and community backing it up is Litecoin [LTC] that did do very well [balancing bulls and bears] the past week with 6.89 percent recovery after reversing from the dip. If the trend continued, any trader needs to stay on the lookout for the resistance $166.00 if it is cleared out. In the case the major $180.00 will be next to be tested.
One of the main concern that the crypto-market has dealt the past few days is the troubles that the exchange platform – Binance is experiencing in Japan. The bearish news about a could-happen prohibition by the Japanese FSA [Financial Services Agency] tanked the prices into panic. But, not long after the exchange was reported on that it is deeply looking into Malta for the solution of the trouble.
Dropping prices accord investors with the opportunity to examine the market and establish trends. Litecoin is one of those coins that have the potential to rebound big time. It is expected that should a bull run be initiated, LTC will be one of the coins to watch.
.The addition of Litecoin to the Abra app and the revelation that LTC was the anchor coin, only adds to its continuing adoption push. It makes LTC visible to first time investors as well as those looking to buy other coins.
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.
As we all know the original goal of Litecoin is to do what Bitcoin, in a way, is failing to do – everyday use on various payments and transactions like the silver for the gold. The target now is to be transformed via the upcoming updates to the best choice for micro-payments in which case [if everything rolls as planned] fees will drop to 0.00001 LTC – easily said to be a guarantee for a price surge in the upcoming years. In terms of what you pay in fiat, the current tx fee stands at just $0.2, meaning it will be negligible with the update.