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Litecoin has recovered a considerable amount of value, while the Zulu Republic supports LTC Telegram payments.
Key takeaways
- LTC has lost significant value in the last seven days but the cryptocurrency has constantly begun to recover.
- Trading v olumes has downloaded almost a fifth (18%) of the total at some point but has rebounded.
- The Zulu Republic has developed a digital wallet that allows users to negotiate Litecoin on Telegram.
Litecoin (LTC) started the week of August 10th at a peak value of 62.23 USD. From there the currency has lost a lot of ground, but has recovered to 61.42 USD by the end of Saturday 11 August.
The "bloodbath" On Monday, August 13, the cryptocurrency – along with most of the altcoins – collapsed, losing a significant amount of value and falling to a weekly low of $ 51.16 on Tuesday, August 14th.
For the rest of the week, the price of Litecoin has fluctuated higher and continues to gain momentum.
At the time of writing the digital currency has a value of US $ 59.10 and appears to be higher.
Trade volumes were similar during the week, slightly fading from US $ 259 million to US $ 243 million.
CryptoBlockWire analyst Jeffrey McGovern reports that Litecoin's relative strength index has reached a critical level.
"Do not make mistakes on it, the currency has to come out next week … or resize or improve," he said
CryptoGlobe suggests that Litecoin is currently approaching a resistance level at US $ 60, 00. If the token manages to overcome this barrier, "LTC will increase" and it will be outside the coverage area. However, if the currency were to resist, it will probably continue to fluctuate along the same path.
Last week, the founder of Litecoin, Charlie Lee, tweeted that the seventh largest digital currency by market capitalization was used to develop a new Telegram-based portfolio, allowing users to send and receive Litecoin. Telegram is a cloud-based instant messaging service that is popular among cryptocurrency traders and enthusiasts.
The new Litecoin portfolio, Lite.im, was developed by the Swiss blockchain startup Zulu Republic.
A bear market is the best time for people to work for adoption.
Check out https://t.co/Ua8LQz9f4h. Send and receive LTC on the telegram. In the end, it will also support SMS. Great work @ztxrepublic team! 👏
We build it and it will come. Adoption is the key!
– Charlie Lee [LTC⚡] (@SatoshiLite) 9 August 2018
You can learn all about different exchanges, understand exactly how to buy and sell cryptocurrencies, calculate taxes, discover the digital wallet to conserve resources and explore a list of all the alternative currencies on the market.
Disclaimer:
This information should not be interpreted as an approval of a cryptocurrency or a specific supplier,
service or offer. It is not a recommendation for trade. Cryptocurrencies are speculative, complex and
involve significant risks: they are highly volatile and sensitive to secondary activities. Performance
it is unpredictable and past performance is no guarantee of future performance. Consider yours
circumstances, and get their advice, before relying on this information. You should also check
the nature of any product or service (including legal status and relevant regulatory requirements)
and consult the relevant regulators' websites before making any decision. Finder, or the author, can
have participations in the cryptocurrencies discussed.
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