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During the bear market, LTC was one of the cryptocurrencies that suffered the most. For a long time now, LTC has fluctuated around $ 50. The dramatic fall in prices, at some point, has left investors worried about the future of the seventh largest cryptocurrency by market capitalization. In an attempt to encourage people to use the Litecoin network, users who run large transactions can now enjoy lower transaction fees. The higher the transaction amount, the lower the commission will be. A transaction worth $ 62 million equivalent to £ 1,159.005.90779568 has just been completed on the network for $ 0.5 which equals £ 0.00922.
Although this is not the first time that a large transaction has been recorded on the Litecoin network, it has been noteworthy due to the exceptionally low tariff. Litecoin.com has shared the transaction stating:
"This transaction is a perfect example of the advantages of Litecoin and cryptocurrency in global transfer and liquidation of money in this Internet age."
The official explanation stated that the transaction was aimed at consolidating funds from some legacy addresses to an "M" SegWit address.
Litecoin (LTC) Price today – LTC / USD
Approximately Litecoin (LTC) transactions of approximately 5,000 LTC were made to offset the transaction of 20,000 LTC recorded. While no one knows who the owner of the transaction is, it was created from an address that was previously the richest on the network. The speculation is that the funds have been transferred to the cold wallet of an exchange for greater security.
Litecoin gets more liquidity
In an effort to offer users more liquidity, Litecoin.com now offers users the opportunity to purchase Litecoin directly on its platform. The ad shared by the adventure was as follows:
"We offer users an easy and cost-effective way to buy LTC within 5 minutes – whether it's USD, EUR or GBP, users can buy from $ 50 to $ 20,000 of LTC using their credit cards. offer this functionality and will be responsible for all KYC / AML standards involved in the process. Users will receive payments within 24 hours. "
P2P cryptocurrency exchange Hodl Hodl now allows users to buy and sell BTC and LTC. They can also exchange them with other cryptocurrencies. "
Litecoin (LTC) Price analysis
Currently, Litecoin (LTC) is trading at $ 51.87. This shows that it is down 0.38% against the US dollar and down 0.25% compared to Bitcoin. The 24-hour trading volume is $ 352,612.997 and the market capitalization is $ 3,065,964,316. The next trading sessions will determine if the price action will change.
