It is astonishing seeing Litecoin jump from 7th position to 4th in a twinkle of an eye. Looking around the cryptocurrency market, Litecoin is ahead after making over $1.5 Billion in market volume in the last 24 hours.
With crypto lovers looking down on Litecoin in the past, different analysis and theories are now being developed on the digital currency.
Well, for those who cannot read between the lines, LTC has been the talk of the town. The digital asset now seats at the 4th position looking nourished and poised to creating a wide margin between it and EOS.
Favourable Market For Litecoin As we write now, LTC is trading at $43.12 and has a market cap of $2,603,675,526 , and $1,521,374,810 market volume in the last 24 hours, opposing a report we filed in the morning where we stated that Litecoin was trading at $38.
Behind Litecoin’s Sudden Spike: CoinGate, Mimble Wimble
Different observers have been asking what is behind the sudden spike of LTC. One among the many is the development announced by CoinGate, where it was stated that the crypto gateway firm has enabled Litecoin Lightning Network payments to all its over 4,500 merchants. The news makes it clear that shops can now receive payment with Lightning Network.
Great news! We are finally enabling #Litecoin #LightningNetwork payments to all our 4,500 merchants! So, feel free to use #LiteningNetwork for making purchases online, or accept LTC Lightning payments with your business. Go $LTC! @SatoshiLite @litecoin @LTCFoundation pic.twitter.com/j5Zrd8KXtz
— CoinGate (@CoinGatecom) February 8, 2019
Another reason is the decision by the Litecoin Core developers to integrate MimbleWimble on the network for privacy sake. With Litecoin championing privacy for digital currency, there is no gainsaying that many a number of crypto lovers will dump other digital assets for Litecoin.
It is interesting to see digital asset like Litecoin return to its position. There is hope LTC it may move close to Ethereum if it continues in this pace.
Meanwhile, Today’s Gazette published some tenable reasons why crypto enthusiasts need to remain bullish about Litecoin.