Charlie Lee protects Litecoin from FUD on Twitter


The creator of Litecoin Charlie Lee is back to hit what he calls a "concerted effort to suppress" the LTC price on the collection of bearish traders and speculative equity investments that are struggling to shorten the currency.

Lee stated that these were efforts to stifle the cost of Litecoin from those who contracted LTC and those who consider Litecoin a danger to them.

Writing in a tweet, Lee said that he needed to clarify "FUD" burst out of decks that "consider Litecoin a danger".

In the report, which was created by Tushar Jain, Multicoin has spread its legitimacy to be a short LTC, stating that the coin faces various "negative catalysts" without an adequate number of bullish elements to balance them.

The report also expressed that, at the moment, Litecoin still has a lot of problems to be determined and does not have the important bullish notion to represent its ongoing rise.

Check also: Latest news on Litecoin

Jain has ensured that the encrypted window is moving forward and encrypted, for example, LTC that does not have a very genuine use will not profit in the following Bull Run.

Lee, in any case, is confident that the use of Litecoin is the thing that makes it an attractive alternative. The digital asset supported by these organizations makes it very easy for retailers to recognize LTC. There is too many LTC vendors to check, including.

He also added that litecoin faces a serious sales pressure, from the extraction of LTC and from the Bitmain digital currency mining company, which is supposed to be rising by 1 million LTC while effectively advancing bitcoin money, a coin that rivals the litecoin to be the crypto choose for payments day by day.

Here is the complete thread of Twitter, in which Charlie Lee defends Litecoin against FUD

He added that, apart from the long-lasting performance of the obsolete litecoin, the appearance of second-level downsizing agreements such as Lightning Network (LN) will further strengthen LTC as they make money interoperable with bitcoins.

"Litecoin will always be the cheapest and fastest on the Lightning Network ramp and with solutions like submarine swaps, you can use it on the LTC chain to pay a flash BTC bill!" He said. "We will also have decentralized exchanges using atomic swaps, the possibilities are endless".

Read also: In-depth technical analysis of Litecoin prices.

Currently, litecoin is the seventh-largest digital asset with a market capitalization of $ 3.2 billion. LTC trades at $ 58.66 USD, which is a reduction of 85% from the historical top of the coin to $ 375.29, as per CoinMarketCap.

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