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

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Litecoin Nеtwоrk

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.

What do you think?

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DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

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Litecoin News

Litecoin (LTC) Value Rebounds As The Halving Event Is Pending

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litecoin (LTC) value
Litecoin (LTC) value gained more than 14 percent in less than a day, surging to a high of $93.05 from the previous $77.60 on Tuesday. The cryptocurrency is now trading at $90,09 and in the altcoin news today we take a closer look at the price analysis. The move saw the Litecoin (LTC) value outperform its peers as the crypto market barely managed to recover from a punishing correction. Later, LTC dropped as low as $76.70 during the sell-off. It is okay to say that it has been a very bumpy week for the entire crypto market but especially for the fourth largest cryptocurrency- Litecoin. As it was reported previously in the week, the Litecoin Foundation made a partnership with the football team Miami Dolphins to accept crypto payments for the team’s 50/50 raffle using BTC and LTC. Despite this, the LTC has stepped in a situation where it was strongly going down mirroring the previous market movement of the leader on the market Bitcoin. Usually, when Bitcoin starts any kind of movement, everyone follows but Litecoin has tried to avoid this trend somewhat defying bitcoin’s dominance to break out on its own back three months ago. This time, however, Litecoin was sucked down with the major cryptocurrency Bitcoin but quickly found its way back into the positive vibes over the past 24 hours. As a result of the halving event which is expected to cut the cryptocurrency’s inflation rate in half in less than 18 days from now, the expectation that the litecoin traders will still have to experience some more unpredictable activity as it follows. When the halving event takes place, the block rewards generated via successful hash will then halve from their current rate. It is still unknown how big of an effect will this have on the cryptocurrency. The founder of Litecoin, Charlie Lee thinks that the halving event will hit the miners the hardest and he even predicted that some of them will close shop forever. He made everyone sure that ‘’everything will be fine.’’ As noted in the latest cryptocurrency news, LTC is now trading at 200 percent from its price level where it was at the start of the year outlining the strength of the crypto market’s recovery from 2018 prolonger bear period.
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Litecoin News

Litecoin Adoption: LTC Adopted On Flexa, Spendable In 39,000 Stores

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Litecoin Adoption
We haven't written much on Litecoin adoption for some time now, but the latest cryptocurrency news show that soon, LTC will be used as a currency in more than 39,000 stores. The altcoin managed to lose its seats to competitors like Bitcoin Cash (BCH) and EOS (EOS) on the market - but this did not stop it from being adopted in different aspects. LTC has been imbued with an increase in investment interest and adoption. As the news earlier this week revealed, the up and coming crypto payments startup Flexa is the one making the altcoin news with the Litecoin adoption. This makes LTC the fifth digital asset available on the Flexa platform. Litecoin can now be spent at Amazon's whole foods, which is big news. Since it was formally added to Flexa (a payments ecosystem that allows merchants to accept crypto and receive USD), LTC is now part of the biggest Litecoin adoption. The official release by Flexa notes that LTC "distinguishes itself" from the other blockchain platforms with the low transaction fees which are often under $0.01, as well as the fast confirmation times of 2.5 minutes, high volumes and "the active community of avid supporters and payments enthusiasts." Indeed, the Litecoin adoption is not something coming out of nowhere as Litecoin is known in the coming altcoin news as a cryptocurrency with a big community behind it. So, the big thing considering the Litecoin adoption is that LTC can now be used to purchase goods via Flexa in more than 39,250 stores (and counting) across the United States. As the founder of Litecoin Charlie Lee noted when commenting the news:
“I’m excited to see Flexa help push mainstream adoption of Litecoin payments. Being able to pay with LTC at all these new major merchants is great for the entire Litecoin community.”
Litecoin can now be spent but also converted to fiat via Flexa's SPEDN application which is currently live on Apple's iOS and in testing phase on Android. This comes shortly after the Litecoin Foundation (organization behind the cryptocurrency's development and adoption) joined hands with two industry partners including Bibox Exchange and Ternio, releasing a debit card that can be "loaded" with LTC, Bibox Token and Ternio Token.
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Litecoin News

Crypto Startup Flexa Adopts Litecoin-Now Available At 39,250 Stores

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Crypto Startup Flexa
Crypto Startup Flexa adopted Litecoin (LTC) and has made it the fifth largest digital asset on their platform. As previously reported in our coming altcoin news, Litecoin didn’t really do well in 2018, but have things changed for the asset? The cryptocurrency dropped in the market’s standings back in 2018 losing all of the steam to competitors such as EOS and Bitcoin Cash. The asset, however, was somehow boosted after many people invested in the asset and boosted the interest and adoption rate. Earlier this week, the crypto Startup Flex added Litecoin to their platform. LTC was formally added to Flexa which is a payments ecosystem that aims to help merchants accept cryptocurrencies and receive U.S. Dollars in return. According to a recent blog post, the bitcoin fork created by an ex-Google and Coinbase engineer Charlie Lee, joined ethereum, Bitcoin and Bitcoin Cash in the team of the startup. Flexa explained why they decided to add Litecoin to the group of crypto assets saying that it distinguishes itself from other blockchain platforms that have low transaction fees. Crypto Startup Flexa also noted that LTC has fast confirmation time and high volumes. The cryptocurrency can now be used to purchase goods via Flexa in more than 39,250 stores acorss the United States. Some restaurants and retails stores accept the Flexa-backed payments which are routed mainly through Gemini. Lee noted:
 “I’m excited to see Flexa help push mainstream adoption of Litecoin payments. being able to pay with LTC at all these new major merchants is great for the entire Litecoin community.”
Litecoin can now be spent and converted to Fiat with the help of Flexa’s SPEDN application which is currently live on Apple iOS. The decision comes shortly after the Litecoin Foundation joined the two crypto industry partners Bibox Exchange and Ternio in order to release a debit card that can be filled with LTC. As noted in the previous latest cryptocurrency news, the Video game streaming service Twitch also started accepting subscription payments via BitPay which gives its viewers a chance to contribute to their favorite gamers with cryptocurrencies. This could be great news for litecoin but for other assets as well regarding the boost in price in the upcoming months.
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Litecoin News

Litecoin (LTC) Price Goes Up By 13% Reaching $8.18BLN In Market Cap

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Litecoin (LTC) price reached $134 by Sunday at 09:30 recording an increase of a 13 percent in less than 24 hours pushing the entire market cap of the altcoin to $8.18 billion. In the coming altcoin news, we take a closer look at the analysis. The Litecoin (LTC) price boosted the market cap by a total of 2.36 percent and reached its top for this year. Litecoin is now trading in a range between $110 and $146 on major exchanges including Coinbase and earlier this week, the cryptocurrency established a low cycle at $109 upon starting a 5-day streak. The latest update was accompanied by a decent volume of $0.058 billion across all the crypto exchanges and at the same time, the real volume showed a $359.989 million worth of Litecoi-enabled trades. The LTC price surge came just in time as the Bitcoin trend was trying to make a break. The number one cryptocurrency was also the one to experience a deep plunge later but the Bitcoin to dollar ratio was trading at $10,300. The upside correction took the pair as high as the $12,444 on Friday, but the Bitcoin failed to hold the gains during the weekend. The cryptocurrency was trading 4.17 percent down from the Saturday goal $12,379.99 which had a huge impact on the Litecoin price. The rage against bitcoin was 12.16 percent higher. The famous DonAlt famous cryptocurrency analyst, stated back on Saturday that Litecoin has one of the best-looking charts on the market and with the halving event Litecoin could become more scarce by cutting the supply rate in half. He pointed out:
‘’I’m still waiting for the weekly close but if it does close anywhere above the green box/line I’ll long targeting new highs.”
The latest cryptocurrency news reported that the LTC supply reduction could affect the reward that is mainly used by the miners. This could also cause a drop in the Litecoin’s blockchain hashrate since the miners start allocating the computational power to more profitable cryptocurrencies. However, Charlie Lee begs to differ. He believes that the LTC miners would still be profitable despite the rewards reduction:
 “If some miners stop mining, block times go up for a while (maybe a week) before difficulty readjusts and makes mining profitable again and miners will come back. Litecoin won’t die.”
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