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Litecoin News

Bitcoin’s Reign May Come To An End: Will Litecoin Replace It?



Last year was great for cryptocurrencies. In fact, they had the greatest single-year performance in history. After the promising $17.7 billion market cap at the beginning of 2017, the cryptocurrency market finished 2017 with a combined market cap of $613 billion which represents an increase of the value of more than 3,000%.

Additionally, 2017 was time of dominance for the leading cryptocurrency, Bitcoin. As the first cryptocurrency with the option for trading back in March 2010, the reign of Bitcoin is what brought blockchain technology to the spotlight. Bitcoin was also bought for exchanging popular digital currencies on decentralized exchanges – but also an investment that made a lot of people rich.

Despite the surge of Bitcoin that came close to the $20,000 mark, the leading cryptocurrency is now above $10,000 in terms of value. As consistent as it has been, Bitcoin is going to shades according to some experts. The big question is – which cryptocurrency has the power to replace it?

Many fingers are pointed to Litecoin – the cryptocurrency with a massive potential out there. The truth is, as Bitcoin has grown in terms of popularity, some of its flaws have become visible. From the approval for upgrades to the open-source network vulnerabilities, Bitcoin’s flaws have caused numerous forks, creating new digital currencies in the process all while relegating Bitcoin to a slower and pricier network.

The average Bitcoin transaction takes longer than an hour to process – and the fees are around $28 – which makes it the same cost as a bank wire transfer and makes Bitcoin a poor choice for daily transactions.

Litecoin, on the other hand, is often described as “bitcoin Lite” and considered to be in cooperation and not in competition with Bitcoin. Recently, Litecoin implemented SegWit which has boosted their capacity of handling merchants and transactions and ramped the processing speeds while lowering transaction fees. Bitcoin, on the other hand, was supposed to implement the technology but couldn’t gain the needed consensus to do so.

This certainly gives an advantage to Litecoin and puts it in the spotlight for being “the best” (performance-wise) cryptocurrency out there.

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Litecoin News

Crypto Payments Platform CoinGate Begins Its Lighting Network Trial With Litecoin (LTC)

In the latest digital currency news, we are focusing on the crypto payments platform Coingate and its new integration of the Lighting Network on Litecoin (LTC) in order to boost the cryptocurrency payments. As the marketing manager at Coingate Veronika Mishura said, the company does up to 10% of its monthly volume via Litecoin. On top of that, they believe that integrating Litecoin's Lighting Network (which by the way has more than 100 nodes now) will increase the incentive to use cryptocurrency due to its reduction in fees. As Mishura said in an interview:
"VPNs are to be honest one of the most frequently used services by crypto-enthusiasts (what we see by our data). However, due to quite low price, it is usually a no-win to pay for it with Bitcoin or Litecoin; and that’s exactly what Lightning should solve. That’s what we are trying to showcase – paying even for low-priced products should be possible, convenient, and cheap using cryptocurrency."
The first merchant to use the LN on Litecoin will be Surfshark which is a VPN provider. According to Mishura, hopefully all of the 4,500 of their merchants will be interested in integrating LN in order to reduce the friction on both sides. Meanwhile, CoinGate enables businesses to accept all major cryptocurrencies and many altcoins. The fee at the exchange is 1% and clients can choose from BTC to dollars or Euros as their designated payout.
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Altcoin News

United States: Presidential Candidate Tulsi Gabbard Bought Crypto At Peak

The presidential candidate and US Congresswoman Tulsi Gabbard of Hawaii is in the Bitcoin news today. While on her mission to become president of the United States in 2020, Gabbard showed her interest in cryptocurrencies. In fact, several federal filings proved that Gabbard bought cryptocurrencies at the height of the bull market (in December 2017). She confirmed this in an interview on January 12th, stating:
“There are a lot of challenges that are facing the American people…that I want to help solve.”
Gabbard also added that her main concern is to make sure that the US does not continue to intervene in ongoing conflicts in the Middle East. Aside from this, her other priorities include climate change, healthcare and criminal justice reform. According to some reports, Gabbard bought $1,001 to $15,000 of Ethereum and Litecoin in the bull market, when the Bitcoin price soared to a record high of $19,500. It is unclear how much crypto the presidential candidate currently holds though. However, this is still positive news for the crypto market in the United States. According to analysts, a presidential candidate with a strong will for crypto is a good sign to wider adoption. Gabbard is not the only one with such interest, however. The congressmen Darren Soto (Democrat-Florida) and Ted Budd (Republican-North Carolina) in December last year also said that the country must "nurture the profound potential of crypto" in order to stimulate the economy.
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Altcoin News

BItcoin Cash, Litecoin And Ethereum: The Biggest Losers With Drops Above 10%

The first major downward trend in 2019 is here. Today, we are reporting on the latest digital currency news while seeing the entire market and its sluggish movement. However, just as we see the entire cryptocurrency market and its bad performance, we can also see that Bitcoin Cash, Ethereum and Litecoin are the biggest losers in the top 10 altcoin market. In more detail, we can see that all BCH, ETH and LTC have fallen by more than 10% overnight. Bitcoin Cash (BCH) was the biggest loser, falling by around 15% and dropping to $137. Despite the hopes of BCH supporters that the price of the altcoin may climb to $200 soon, Bitcoin Cash is now far from that point. Ethereum (ETH) is next, falling to $134 overnight and losing more than 11% of its value. Even though Ethereum's market cap is significantly greater than the fourth-placed altcoin by market cap Bitcoin Cash, it is still far from what we saw in 2017 during the best days for the market. Litecoin (LTC) also dropped big time, falling to $35 and measuring a decline of more than 11%. Currently, Litecoin is at the seventh position of cryptocurrencies with largest market caps and its daily volume has substantially increased to $578 million over the past 24 hours. The total cryptocurrency market cap is right now at $127 billion, losing more than $10 billion overnight in the downward trend that was initiated by Bitcoin (BTC) and its drop to $3,750.
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Litecoin News

Litecoin (LTC) Surges 11% In A New Rally That Sets A Fresh 2019 Peak

Litecoin (LTC) is the cryptocurrency that is in the focus of our latest digital currency news, mostly because of its recent surge which set a fresh 2019 peak. The altcoin managed to rise by more than 11% against the dollar, establishing an intraday high at $37 on a bounce from the near-term ascending trendline support. Also known as the "digital silver" cryptocurrency, LTC was consolidating since December 27th in a strict range much like its peers across the crypto-board. The new buying sentiment followed OKEx's launch of Ethereum and Litecoin based perpetual swaps. Right after the launch, Litecoin attempted a rally that pushed the altcoin close to the $35 margin, after which it rose even more and reached its interim bullish target. Currently, the price action is stable. From the technical analysis, we can see that the Litecoin price is forming a pattern structure that is defined by a triangle - with the $34.92 as the current neckline and $37,59 price point as the breakout target. Even though there are also signs of a pullback scenario and a possible correction, this could be a great opportunity for Litecoin (LTC) to lead the market and even reach the $50 margin soon, which is in every investor's focus. At press time, Litecoin (LTC) is trading at $36.07 with a $59.9 million market cap.
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