LTC / USD price chart, Litecoin News: A recent post arrived on Litecoin subreddit of a sponsorship agreement in which Dash was named official sponsor of a FanDuel Fantasy Football. The question was because Litecoin did not get its name linked to such sponsorship agreements. Tuesday, September 4
Can Litecoin also obtains sponsorship offers
A recent post has arrived on Litecoin subreddit of a sponsorship agreement in which Dash has been named official sponsor of a FanDuel Fantasy Football. The question was because Litecoin did not get its name linked to such sponsorship agreements.
Joel Valenzula who made a post in Dashforce in which he highlighted some of the steps that cryptographic teams take to increase the popularity and adoption of coins. According to him, "organic partnerships" rarely occur in the decentralized environment because businesses need to convince that every deal they are entering into will be mutually beneficial. He said that despite its decentralized approach, the results seen in terms of adoption and partnership are the effort and work behind the scenes played by members of the community of a currency.
He also said that businesses will naturally be skeptical of cryptocurrencies by asking themselves if they work the way they are promoted. He emphasized that coin communities in which many see digital currencies as hobbies should not expect rapid adoption and collaborative effort without due diligence on the part of companies whose existence depends on business success.
Analyst believes that Litecoin is undervalued
Mati Greenspan, eToro's senior analyst said that Litecoin is trading at heavily discounted prices citing some technical and fundamental factors such as why that the currency must be valued much more than it is credited.
According to Greenspan, a scrypt algorithm The extracted coin based on proof-of-work (PoW) makes Litecoin resistant to the 51% attack, implying that the willpower needed to achieve this is impractical for any entity .
He also praised the structuring of Litecoin by stating that the network is complementary rather than competitive with Bitcoin, which makes it easy to adopt innovations such as Segregated Witness (SegWit) and the Lightning Network (LN).
He also emphasized the widespread adoption of money over his peers and concluded that Litecoin's valuation is lower than it is worth. For example, the daily active addresses of LTC (DAU) are more than twice those of BCH. The ratio between the market capitalization of Litcoin and DAU is among the lowest among the large market cryptocurrencies.
Greenspan concluded that the current price of LTC is highly discounted at the current level of adoption.
Litecoin Dips slightly to $ 65 Analysts suggest Buy- in $ 63
Litecoin earned 0.21% in the last 24 hours traded at $ 65.48 in a correction that has the currency above the $ 63 support
The data feed from Kraken shows that LTC has been bullish against the USD forming a main uptrend line above the $ 63.31 support on the hourly chart.
Prospects are still promising as the buy-in positions have been identified close to $ 64 and $ 63. Prior to the recent correction, the LTC / USD pair broke $ 65 and $ 66 points of resistance.
The Cryptonics analysis stated that "There was also a break below the Fib retracement level of the 23.6% of the last wave from the minimum of $ 58.66 to $ 67.71. "
The 100-hour SMA is still close to $ 63. This implied that if the price declined, it would be reduced to this level or the next available support at $ 60.
LTC Price Chart / USD, Tuesday, September 4:
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