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Litecoin News

Post Halving Price Analysis: Litecoin Struggles To Keep The Bullish Bias

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Post Halving Price

Litecoin is struggling a lot to keep its bullish bias post halving and now in the analysis below and latest cryptocurrency news are trying to find out what’s coming next.

The post halving price analysis shows that the LTC/USD instrument established a new high of 104.04 on the Coinbase crypto exchange. The move uphill brought the pair up by more than 12 percent from the market open. This was also a time when the Litecoin blockchain was close to reaching a block size of 1,680,000 after which it could reduce the supply rate from the previous 25 LTC per 2.5 minutes to the current 12.5 LTC per 2.5 minutes. At about 10:15 UTC, Litecoin began its halving process and in about fifteen minutes, the cryptocurrency’s rate started going rapidly downwards.

Up until 13:30 the LTC/USD rate dropped by more than 97.11 which is down by 9.28 percent from the local top. The move shows the need of the day traders to take their sessional profits at home and at the same time it shows there are is not a strong bullish bias at the moment that could lead Litecoin to register more than 200 percent in the year-to-date returns. Post halving price analysis shows that by reducing the supply of digital assets in a specific time, the demand for those assets will grow higher and the underlying scarcity alone makes them more expensive to purchase.

The halving events are also problematic if the miners receive lesser rewards and get disappointed for confirming and adding transactions to the blockchains. There is no such sign in the hash rate drop in the litecoin blockchain which still means that the miners are running the network. Traders are willing to drop their LTC bags for much more attractive intraday profit which is why the market is experiencing a sharp correction. This could also mean that Litecoin is preparing for a consolidation price action soon. The last litecoin halving didn’t impact the price as much. The LTC/USD rate surged up to 16 percent after one-year post halving. Bitcoin did better since it surged more than 292 percent one year after going through the last halving.

As we can see in the altcoin news and analysis, if Litecoin continues to remain idiosyncratic, there will not be an upside move in the cards. The creator of the currency Charlie Lee put up the privacy features later this year which could mean the upside trend is just about to start.

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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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