Connect with us
  • Home
  • Start here
  • Bitcoin Charts & More
  • Submit PR
  • Advertisement
CLOSE

Litecoin News

Litecoin Foundation Partners With Software Development Firm Beam, LTC Rises By 30%

Published

on

Litecoin

The Litecoin Foundation has officially partnered with the software development company Beam in order to work together for the implementation of the new protocol that would improve scalability and privacy, according to the crypto news reports coming from Beam’s Medium blog post.

The new protocol named ‘’Mimblewimble’’ which is inspired from the popular Harry Potter novels and is basically a made-up curse word is being tested for the scalability solutions. The blog post states:

 “We have started exploration towards adding privacy and fungibility to Litecoin by allowing on-chain conversion of regular LTC into a Mimblewimble variant of LTC and vice versa. Upon such conversion, it will be possible to transact with Mimblewimble LTC in complete confidentiality.”

The Litecoin Foundation also posted on their blog post where it says that ‘’Mimblewimble’’ is a part of the ‘’Confidential Transactions’’ that will allow transactions to be verifiable but also ‘’obfuscated’’ in order to achieve enhanced privacy and to prevent double spending.

The news about the partnership had affected the price of Litecoin which made it increase up to 30 percent, overtaking EOS and Bitcoin Cash. If we take a look at the performance these past days, the altcoin traded somewhere around $30 and $34 for the bigger part of January.

Charlie Lee, the creator of Litecoin, tweeted that the ‘’fungibility’’ is the only property missing from Bitcoin and Litecoin so that will be the new battleground for the altcoin. He revealed that the foundation will be focused on implementing Confidential Transactions.

Altcoins were designed so they can provide privacy and will always focus on maximizing it. One of the most privacy-oriented coins out there is Monero, Dash and Zcash.

Share This With Your Friends
Continue Reading
Comments

Analysis

Litecoin Price Analysis Shows A Fresh Upward Movement Above $75

Published

on

By

litecoin price analysis
Litecoin price analyses show that the altcoin corrected its movement and the main $75 support level. It is likely preparing a strong upwards movement above the $85 resistance level so in today’s altcoin news we take a closer look at the analysis. The litecoin price analysis shows that the altcoin corrected the lower $70 support area and is retesting the $75 support area again. LTC is setting up for a new strong movement since it already traded as low as $74.11 and rebounded above the $76 price point. The cryptocurrency is trading currently inside a correcting triangle that we should watch closely on the hourly charts. The price is expected to accelerate even higher once the cryptocurrency breaks above the $80 resistance level. Earlier today, a strong upward motion in ethereum, bitcoin cash, bitcoin, Eos and Cardano happened. According to the litecoin price analysis provided on CoinMarketCap, the cryptocurrency also increased significantly higher above the $78 level before stabilizing at $76 and it seems like the bulls are gaining momentum in the near term. If you take a closer look at the 2-hours chart Litecoin price analysis shows that the LTC/USD pair spiked below the $75 level and traded all the way at $74. However, the first support area was standing strong since the price jumped back over the $76 price level and has a 25 simple moving average. There was also a break above the 23.6% Fib retracement level when the litecoin price analysis showed a decline from the $85 all the way down to $74. The price even reached a $79 level but didn’t continue the pace above the $80 resistance level. Also, it is important to notice that the decline from the previous $85 to the $74 low is pretty much a solid resistance though it may not seem like one. The price is still fluctuating inside a major triangle with multiple resistance levels around the $79 on the same charts. If the Litecoin price analysis doesn’t show a possibility above the $80 resistance levels, the cryptocurrency could gain even further all the way up to the near $85 level. Also, if the bulls remain in action, the price could even reach the $90 level as analyzed previously in the coming altcoin news.
`
Continue Reading

Litecoin News

The LTC Creator Says His Goal Of Litecoin Is To Make Sound Money

Published

on

By

the LTC creator
The LTC creator or better known as Charlie Lee spoke for an interview explaining the goals of his cryptocurrency. For that reason, in the latest cryptocurrency news, we take a closer look at that interview. Speaking for an interview for the business publication of Wharton School of Business at the Pennsylvania University, the LTC creator discussed how to future of money and banking will play out. When he was asked about what the goal of the cryptocurrency is, the LTC creator replied that he wanted to make it sound money:
 “I think the goal for Litecoin and also, for me, for Bitcoin is to create sound money. When I first found out about Bitcoin, I saw it as a better form of money than … human civilization has ever seen. If Bitcoin is a better form of gold, for example, it doesn’t have to be used daily. People [store but] don’t spend gold, right? And you can actually build on top of that.”
When he was asked what is stopping cryptocurrencies from becoming widely adopted, the LTC creator explained that the lack of security while protecting the coins is one of the biggest obstacles when it comes to mass adoption. Continuing the interview, Charlie Lee pointed out:
 “Hindering adoption today is the lack of trust in terms of securing your Bitcoins. A lot of people aren’t tech savvy enough to protect and store their own coins, and they rely on third parties like exchanges. And then the exchanges get hacked.”
The coming altcoin news show that the interview dug deep into the future of cryptocurrencies but the future of money as well. It was also mainly focused on whether the cryptocurrencies will be able to replace central bank and fiat currencies. At the end of the interview, the LTC creator focused on Litecoin’s improvement and fungibility. In other words, fungibility means the property of money that implies that every asset’s unit has the exact same value as any other asset that has the same unit or it is from the same kind. He also mentioned that his company is looking to improve and increase merchant adoption as well.
`
Continue Reading

Altcoin News

LTC Price Can’t Keep The Pace Any Longer: Crypto Analyst

Published

on

By

LTC price
The LTC price was one of the best achievers in 2019 after it managed to increase up to a stunning 162 percent since 2018. In our coming altcoin news, we find out that the strong pace of the cryptocurrency, cannot be maintained any longer, at least that is what one crypto analyst believes. Binance coin was the only one to outperform the LTC price among the rest of the larger-cap crypto assets and Litecoin’s 2019 rally surpassed the price of bitcoin by at least 40 percent leaving the number one cryptocurrency behind. However, it seems that the sixth-largest cryptocurrency is approaching a sell-off period. Crypto brokerage BitOoda posted a note to clients saying that a downward trend is at the phase of creating on the Litecoin chart. This suggests that the LTC price could be on a short-term breakdown territory. The sell-off could cause the value of the altcoin to crash below the $75 support line. Brian Donovan, the EVP of BitOoda explained:
 “We have seen a downward wedge forming over the last week or so. We look for potential breakdown of that $75 near-term support.”
While the analysis from Donovan suggests that traders might want to take advantage of the short-term profits, the litecoin price breakdown does not mean that the altcoin will be weak in the long-term. It only shows that the LTC price will be up for a healthy retracement since its value surged by more than 350 percent after the bear market low at $22. Donovan continued:
 “LTC has rallied from the lows of last December from ~$22 roughly 350%. A short-term retracement would not at all be unlikely NOR would it be a bad sign for the token. Healthy pullbacks can and should occur in an asset that rallies this hard, this fast.”
However, as some of the best cryptocurrency news sites show, not all analysts are convinced that the litecoin support level will reach a breakdown point. The Rhythm Trader posted on Twitter explaining a more bullish scenario. He stated that if the volume is rushed to defending the support level, the LTC price could reach a triple-digit territory:
 “If $LTC shows a little volume here, this could get really interesting with a break of $100 quick if this support holds.”
`
Continue Reading

Altcoin News

Litecoin (LTC) Hash Rate Hits A New All-Time High On April 8

Published

on

By

Litecoin is in the coming altcoin news because of its hash rate. According to the latest cryptocurrency news, Litecoin (LTC) has achieved a new all-time high of its hash rate on April 8, measuring 359 terahash. The rapid increase in the hash rate of the Litecoin blockchain network represents computing power that protects and secures the protocol and comes in the middle of a demonstration of strong performance by Litecoin (LTC) in recent months. Since January, Litecoin managed to record a 160% increase in value against the US dollar, proving that it is among the best performing cryptocurrencies in the global market right alongside Binance Coin (BNB), Enjin Coin (ENJ) and Augur (REP). The potential factors of the rise of the price and the hash rate of Litecoin are considered as a positive indicator of confidence. However, arguments are made that improvements in hardware and mining equipment can lead the hash rate to rise. The new increase in the hash power of the Litecoin network was affected by the momentum of the short-term price trend of Litecoin (LTC). Still, it is entirely possible that the overall improvement in the efficiency of mining equipment has fueled the network's hash rate. According to Franklyn Richards who is an early Litecoin team member operating Litecoin.com:
“Another potential explanation for the recent rise, besides price, may be more efficient mining hardware being issued /used. If this were the case we are not expressly aware of it.”
The price of LTC is also going up. While new cryptocurrencies consistently emerge and are featured on the best cryptocurrency news sites, if they are not backed by active development, investors may lose confidence. A 2017 study by JP Vergne who is a professor at Ivey Business School proved this, stating:
“Besides, a new cryptocurrency may look more appealing than its older competitors at the time of introduction, but if it is not backed by a solid team of developers who continually improve its underlying software, over time it will be unable to maintain its initial technological advantage.”
Right now, we can only hope that the price growth of Litecoin (LTC) is as consistent and featured in our altcoin news section.
`
Continue Reading

Newsletter

For Updates & Exclusive Offers
enter your email below





ADVERTISEMENT

Join us on Facebook

Recent Posts

ADVERTISEMENT

UPCOMING EVENTS RECOMMEND BY DC FORECASTS

may

No Events

NEWS CATEGORIES

ADVERTISEMENT

Trending Worldwide

X
X