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Litecoin News

Litecoin (LTC) Halving Excitement Spikes The Price By 18%

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Litecoin (LTC) halving

Litecoin (LTC) halving event is approaching and with it, the excitement grows leading the price of the asset to soar by 18 percent this week only. The fundamentals show that the price could go even higher and we read more on the analysis in the coming altcoin news below.

The LTC-to-Dollar rate today established an intraday high of about $114 and it later took its 24-hour adjusted gains to 8.60 percent which is the highest climb out of all cryptocurrencies on Friday. The move also helped the altcoin to erase the losses during the last week downside trend and at the same time, the largest cryptocurrency Bitcoin still managed to recover by 7 percent and to compensate the similar losses.

The biggest difference between Litecoin and Bitcoin is that the investors and traders are now interested in holding the first one. This is because of the Litecoin (LTC) halving event which is expected to reduce the supply rate of the altcoin to 12.5 LTC. Investors are looking at this event as a bullish one but are still taking cues from the textbook supply-demand theory. They also believe that the reduced supply in LTC against an appreciation in demand will make the asset more valuable. As a result, LTC could become a more profitable asset than other top coins in the near term.

The sentiment could also be seen further across the Litecoin blockchain. For example, Binance research reported that the altcoin had a hashrate increase of more than 150 percent in the last six months and the mining profitability is up by 125 percent. During the same time, LTC increased by more than 380 percent against the US dollar.

LTC still needs to prove that there will be a higher demand. The founder of the asset Charlie Lee announced back in February that they would likely offer increased privacy with the new Mimblewimble update. The announcement helped LTC increase in far but unless the update kicks in soon, every upside action will only be left for speculation.

As reported in the best cryptocurrency news sites and analysis, the Fibonacci retracement graph sketched from the price point of $182 to a low of $22 provides a good idea of how the LTC price will play out in the near future. Traders are also willing to break above $121 in order to open a long shot towards the $148 price level.

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Bitcoin News

Wright Claimed That BTC, LTC Should Have Been ‘’Killed’’ By Now

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The Self-proclaimed creator of Bitcoin (BTC), Craig Wright claimed this time in 2018 that Bitcoin and Litecoin will be damaged and he will basically kill them with the information he has, and this statement definitely stands out as one of his biggest claims. In today’s altcoin news we remind ourselves what he actually stated.In November of 2018, Craig announced in an enigmatic way that he is in possession of information which will damage both Bitcoin and Litecoin practically “killing” them. This assertion is part of Wright’s claim that what is now traded under the ticker of Bitcoin is not the real Bitcoin as imagined by Satoshi Nakamoto.Wright is also prepared to destroy Bitcoin by himself, for this reason, but this deed is scheduled for 2020. It seems that the latest claim has come and went away without fulfillment, with two days left before the judgment day. Wright claimed that with the sway of the bear market, Bitcoin and Litecoin will be dead coins but this claim has not yet materialized.Craig Wright has disappeared from Twitter after a scandal. Been under furious criticism from the crypto community, he threatened some of CT personalities with court action, like Hodlonaut and Peter McCormack. The lawsuit against the estate of Dave Kleiman is not developing well for Wright. Wright failed to prove that he owns any private keys potentially belonging to Satoshi Nakamoto. Wright is also not capable of repaying Kleiman for their common ownership of BTC form earlier mining.As for the question of destroying the coins, Bitcoin is now flouting around $8,800 and LTC has recovered to $61.17, is relatively stable for now. From backing Bitcoin Cash (BCH) Craig Wright has changed his position to hostility with that project and refocusing his energy to Bitcoin SV (BSV).It is hard to believe that in 2020 Bitcoin SV(BSV) will displace Bitcoin (BTC) not to talk about taking over its markets, besides the robust community of BSV. For now, Bitcoin SV (BSV) goes around $128.28. Bitcoin SV (BSV) is planning to go ahead with increasing the block sizes to 2 gigabits, Bitcoinist reported earlier in 2019, beside still the fears that most miners will be priced out from the markets remain.
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Litecoin News

Litecoin Gains 2% On The Day, Analyst Outlook Is Bright

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The crypto news today show that Bitcoin has been facing some turbulent price action lately and confirmed its bearish momentum today with a drop to $8,800 which is the major psychological level now. However, what's impressive in a session like this one is the fact that the Litecoin gains are now at 2% and the altcoin is having a good day.As we can see, the volatility for LTC has been positive and the altcoin is up trading from its monthly lows. Analysts are also predicting significantly further upside for Litcoin in the near-term - and there is one prominent crypto analyst who noted that LTC could surge as much as 80% against its BTC trading pair in the next weeks and months.While Litecoin gains 2%, the new position is now at above $61 which marks a slight climb from the daily lows of $59. LTC is in a good position and the Litecoin news show that when looking at the one-month performance, the recent volatility shows that it has been favoring the crypto bulls as it is currently trading up significantly from the 30-day lows of under $50 that were set in late October.The recent rise and the recent Litecoin gains also prove that the coin is largely influenced by Bitcoin and its massive surge which came about in late October - right after the Chinese President offered some bullish remarks on blockchain technology.One of the analysts standing behind LTC and its rise named Mitoshi Kaku, explained that he believes LTC may be entering a pivoting point that leads to a climb in the near-term which means that the ongoing surge may be up for a start.
“$LTC Leaving ‘pivot week’ behind. I think I might hold onto this one for a little bit,” Kaku said when commenting on the Litecoin gains.
https://twitter.com/CryptoSays/status/1192918916563161088As we can see, there are many other analysts commenting the recent performance of Litecoin (LTC). Galaxy is another one, who recently echoed the bullish statement by Kaku and said:
“New fav: $LTC. The day when everybody starts to love it again might be sooner than we think.”
https://twitter.com/galaxyBTC/status/1193197508052344832All in all, the Litecoin gains prove that LTC is a serious contender for the best altcoin right now - and in the future the coin may see a lot of upside in spite of the Bitcoin bearish trading session.
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Binance News

Litecoin/BNB Coin Pair Are Is Now Available On The Binance DEX

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Litecoin/BNB coin pair is now available on the Binance DEX including the latest asset called LTC-F07 and more than 18,500 tokens have been released for trading as we are reading further in the litecoin news today.In the latest listing proposal, the binance CEO Changpeng Zhao explained the potential of the Litecoin/BNB Coin pair trading on the Binance DEX:
"LTC is decentralized money, free from censorship and open to all. The Litecoin blockchain is the largest global scrypt based network, operating with 100% uptime since 2011 securing billions of dollars of value"
Chanpeng Zhao also noted that the contribution that Litecoin has to offer to the future blockchain progress, especially the Lightning Network and Atomic Swaps. As a new asset, the LTC-F07 is mintable and the total supply will increase with market demand so all of the tokens issued will be backed 1:1 by a native LTC in which the accuracy of the connection will be monitored by an initial verified Litecoin address. The Binance DEX is a side-project of Binance which is currently the largest crypto exchange in the world.The DEX operates on the native Binance Chain and supports non-custodial peer-to-peer trading of more than 130 assets. Some of the major cryptocurrencies include Bitcoin Cash and Bitcoin as well as other numerous stablecoins which have their ‘mirrors’ on the Binance Chain with actual tokens of the native Binance BEP2 standard. As we reported previously in our Binance news, the decentralized exchange (DEX) is apparently blocking access to users based in 29 countries. The Binance DEX informs potential users of the restriction through a message which appears when someone is accessing the platform from any of the specified regions.Aside from this, the pop-up which Binance DEX has designed warns about the trading and accessing the wallet interface through the website – and how it will be blocked for users with IP addresses from the aforementioned countries. A lot of people in the crypto community are bashing Binance and have characterized the finding as an indication that the DEX is in fact not actually decentralized. One Twitter user who is well known among crypto enthusiasts named Whale Panda commented:“Reminder that it was never a DEX so stop calling it a DEX. It’s just a word they used to pump $BNB, it was never meant to be decentralized.”
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Litecoin News

Litecoin Privacy Upgrade Proposed, Designed On The BTC Blockchain

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A new Litecoin privacy upgrade was proposed last month, where Charlie Lee who is the head of the Litecoin Foundation outlined his draft plans. The Litecoin news show that the plans use techniques that were originally developed for Bitcoin (BTC).The proposal would also allow users to access the opt-in privacy by conducting MimbleWimble (MW) transactions on the Extension Blocks (EB) style sidechain. The founder of Litecoin originally announced his plans to explore these privacy technologies earlier this year. He also noted:“Now that the scaling debate is behind us [for Bitcoin and Litecoin], the next battleground will be on fungibility and privacy.”As it stands, the Litecoin privacy upgrade is published as a draft named Litecoin Improvement Proposal (LIP) published earlier this year. The project is now looking to gauge community reaction before looking to write, test and audit the new code.Both the proposed technologies to upgrade Litecoin were developed for the Bitcoin blockchain. As we reported before, the Extension Blocks (EB) were originally proposed by Johnson Lau in 2013 as a soft fork scaling solution for Bitcoin that would enable better fungibility whilst minimizing the potential impact on the existing wallet ecosystem.The original Litecoin privacy upgrade was rejected in favour of the SegWit scalability upgrade for Bitcoin. On the other hand, the MimbleWimble (MW) transactions were proposed in July 2016 - in a white paper by an anonymous developer who used the handle "Tom Elvis Jedusor." Ever since the appearance of this white paper, the MimbleWimble protocol has been implemented in the Grin and Beam cryptocurrencies.However, the Litecoin privacy upgrade drafted at the end of October this year is a proposal which “introduces opt-in MimbleWimble (MW) as a new transaction format through extension blocks (EB)." The team classified it as an upgrade where the extension blocks "run alongside main chain canonical blocks at the same interval of 2.5 minutes.”By offloading the private part of the transaction to the EB sidechain, the upgrade can be carried out with a backward-compatible soft fork upgrade. This means that there is no risk of the upgrade which could lead to a hard fork that could potentially split Litecoin in two versions.
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