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According to CoinMarketCap, Litecoin (LTC) became the number one among the top 65 cryptocurrencies last week, after growing more than 21.50%. Thanks to this, the cryptocurrency rose to 8th place in the market and managed to overtake Polkadot (DOT). This was a move that came after a very positive week on behalf of cryptocurrencies, including PayPal’s announcement to support cryptocurrencies.
Litecoin becomes market leader
Litecoin has become the market leader in recent days as it managed to record the largest gains in the past 7 days among the top 65 cryptocurrencies in the world. This comes after Litecoin was chosen to be supported by PayPal in the new crypto solution.
A few days ago, PayPal announced that from 2021 its customers will be able to use Bitcoin (BTC), Litecoin (LTC), Bitcoin Cash (BCH) and Ethereum (ETH) on their payment platform. In this way, millions of traders will have the opportunity to buy, hold and sell cryptocurrencies around the world.
Additionally, Litecoin developers continue to work on the MimbleWimble app, which is expected to help LTC become the largest cryptocurrency in the world with its privacy features. This app will also allow Litecoin holders to send and receive LTC, which protects their privacy and makes every coin exchangeable.
In the future, this could be added to Bitcoin if the implementation goes as planned. However, before this happens, LTC must prove that the solution is useful and working correctly.
LTC left behind last year
Litecoin lagged behind other virtual currencies in the cryptocurrency market last year. Therefore, it is very important that the eighth largest cryptocurrency continues in this positive trend.
In terms of BTC, Litecoin, Bitcoin and the cryptocurrency market it is at its lowest point since March 2017 before recording huge gains and entering a new bull market. Now, Litecoin is priced at $ 57.64 per coin and a market valuation of $ 3.8 billion. In terms of BTC, the price of LTC reached 0.00427 BTC per LTC.
Litecoin’s future is definitely positive and the market knows it. Litecoin is one of the most accepted cryptocurrencies in the world, along with Bitcoin and Ethereum. Additionally, Litecoin has been added to several fiat ramp platforms, meaning users and investors have easy access to this digital asset.
