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Litecoin News

Litecoin Becomes The First Cryptocurrency Supported By The UFC

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The Litecoin Foundation has recently made its way into the Ultimate Fighting Championship (UFC) mixed martial arts organization. As we can see from the latest cryptocurrency news, Litecoin (LTC) is now the first altcoin and token in general that has sponsored this type of competition which is very popular in all parts of the world.

In a statement, the foundation said that it has become “the official cryptocurrency partner” of the UFC light heavyweight title fight between Jon Jones and Alexander Gustafsson. The Litecoin Foundation also announced that this sponsorship is a way to expand the adoption of digital currencies, stating:

“With brands and institutions continuing to push into cryptocurrency and blockchain, this is yet another signal of this technology moving closer towards the mainstream.”

Released in 2011 by the former Coinbase engineering director Charlie Lee, Litecoin is a proof-of-work cryptocurrency with a limited supply at 84,000,000 LTC. It is not centrally managed but the Litecoin Foundation develops its network where Charlie Lee is the managing director.

This is one of the most popular moves for the altcoin to promote itself even further to the masses and gain coverage in one of the most popular sports events around the world.

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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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Altcoin News

Bearish Influence Brings Litecoin Down Despite UFC Partnership

Following up on our altcoin news, the Litecoin foundation recently announced their partnerships with UFC for their next event. The altcoin managed to push lower over the previous four sessions and somehow maintained pace but the market bulls weren’t able to sustain the upside momentum. LTC/USD did gain an amazing 66 percent before starting to push back from its position. Litecoin reached $37,75 which is its highest level since 20th November, but the current bearish influence brings Litecoin down again. Litecoin will officially be the ‘’Official Cryptocurrency Partner of UFC 232’’ on Saturday in California. The LTC foundation wrote on their blog post:
 “Over the last 25 years, UFC has evolved from a tiny grassroots movement to a global phenomenon. This is largely based on the extremely passionate community. We see many parallels to Litecoin in this way as our amazing community has been instrumental in our growth and providing unwavering passion and enthusiasm that continues to propel us forward.”
Litecoin will have their logo all over the fighting octagon and the team believes that this is a huge milestone for Litecoin. However, despite the partnership, the price of the altcoin was moving upward igniting further selling pressure after the bears managed to put a break on the upward trend. The pattern that Litecoin formatted is extremely vulnerable to breakout but on the downside. The bears managed to break the lower support trend line. This raises the concerns whether the bear market is close to being over since the bearish influence is still present and can be clearly seen the charts.
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