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Litecoin News

LTC Price Sees 18% Surge As Halving Process Approaches

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LTC Price analysis

LTC price analysis shows us that the asset managed to increase by 18% and a total market capitalization of $250 billion was achieved yet again as the other altcoins are starting to fire up as well. In today’s altcoin news we will see what is making the price go up.

The crypto correction that passed the other week made Bitcoin drop even lower than the $7,500 price point. This, however, increased the general momentum for all the other altcoins and today’s best performer by a very clear margin is Litecoin which managed to increase 18 on the day.

The only cryptocurrency that managed to make double digits gains at the time is litecoin as it pumps further. The LTC price standing at $100.65, this time yesterday was standing at $88 but in a few hours started to move up topping the $105 price point. The daily volume increased from $3.2 billion to $6 billion pushing the entire litecoin market cap to reach $6.4 billion.

Litecoin has been around on the market since 2011 as noted in the best cryptocurrency news sites and survived many of the harsh bear conditions. This year, however, the LTC price analysis shows that the asset made an increase of about 240 percent outperforming all of the major assets including the leader of cryptocurrencies- Bitcoin. Currently, Litecoin is trading at a new 2019 high which is the highest level since June 2018.

The current momentum might be coming from the halving event which will take place on August 6, under 75 days. The block mining reward halves every 840,000 blocks so this one will see a decrease from 25 to 12.5 coins. This will also increase the scarcity but decrease inflation so Litecoin will become more valuable.

Bull runs usually happen before halving events and this next one could send the LTC price even higher. Crypto trader ‘’Crypto Cactus’’ stated that this asset will continue to trade higher as the halving approaches:

‘’$LTC not going long into resistance but will be slowing starting to add to my bag as we head straight towards the next halving in roughly 75 days for #litecoin. Wouldn’t expect something crazy but likely price will follow speculation and hype as we get closer to 6th august 2019.’’

The next few days will be critical for Litecoin since $100 is a key resistance level and the price did pull back slightly.

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Litecoin News

LTC Founder Charlie Lee Responds To Protocol Vulnerability

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The MimbleWimble (Harry Potter inspired) protocol which Litecoin is integrating in order to become a privacy coin is in the spotlight of the LTC news today. The LTC founder Charlie Lee has recently announced that the protocol's development is going well.However, it seems that not everyone is on board with him. Ivan Bogatyy, who is a venture capitalist with Dragonfly Capital, recently published a report in which he drew attention to a security flaw in MimbleWimble's privacy model. As Bogatyy noted, “attack traces 96% of all sender and recipient addresses in real time.”If you are reading our cryptocurrency news, you know that privacy is a complicated issue for tokens. This is why the LTC founder Charlie Lee decided to respond to the claims made by Bogatyy.For what we know, the timing of these accusations could not be worse. MimbleWimble is working in full steam and the founder did not expect claims like these. However, Charlie Lee is a true professional - and he seems to offer a working solution. The LTC founder replied to Bogatyy on Twitter and said:
"This limitation of MimbleWimble protocol is well known. MW is basically Confidential Transactions with scaling benefits and slight unlinkability. To get much better privacy, you can still use CoinJoin before broadcasting and CJ works really well with MW due to CT and aggregation."
https://twitter.com/SatoshiLite/status/1196504546479968256Meanwhile, MimbleWimble is seen as one of the most exciting things that has happened to Litecoin (LTC) in a long time. Ever since the LTC founder Charlie Lee announced the shift in focus to privacy, it turned the attention away from him and the fact that he divested his LTC holdings.In the other news, we can see that Litecoin recently tapped the Grin++ developer David Burkett who will help and "add MimbleWimble support to the Litecoin network." In doing so, users will be able to opt-in to confidential transactions in which the value of such transactions would be difficult to trace.Other members and profiles on Twitter pointed out that "anonymity was never an inherent feature," that this is "an excellent attack on the MimbleWimble protocol" and other things. As a result, the Litecoin price has tumbled by nearly 6% in the last 24 hours.
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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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