LTC approaches $ 70 for the first time in weeks
For the first time in weeks, Litecoin (LTC), one of the most important cryptosphere altcoins, made a move to the $ 70 level, which he has not violated in almost a month. At the time of writing this book, LTC stands at $ 67.65 and has a solid 3.3% in the last 24 hours. Although this move may seem negligible in the eyes of many cryptocurrency operators, LTC and Stellar Lumens (XLM) have both taken a leading position in today's mixed market, with Bitcoin up 1.3% and Ethereum declining dell & # 39; 1.25%.
Many analysts expect $ 70, which proved to be a line of psychological and technical resistance, to be the next hurdle of LTC to jump in the coming days.
Although it is unlikely that there was an explicit catalyst for this move, many believe that a series of positive developments (which are the following) have driven the price of this asset higher.
The Upcoming Litecoin Summit
As revealed by Charlie Lee, the founder of Litecoin and a well-known cryptocurrency personality, in an interview with CNBC, the San Francisco Summit Litecoin is just weeks away. When asked what he wants participants to take away from the conference, Lee said:
"I would like to see others [talk around] Lightning Network and sidechain, ways to help Bitcoin and Litecoin to scale. It's actually a good time for people to do stuff … This is what I've seen in the last few markets actually. "
Many hope that the development of these technologies will strengthen the long-term performance of price of both BTC and LTC, since the two activities are complementary to each other. Responding to Lee's statement, CNBC panelist Fast Money Brian Kelly noted that this conference has the potential to also be a short-term catalyst for the price of LTC.
While the market has not grown during (or after) Consent 2018, Crypto's biggest rally, some optimists hope that the upcoming Litecoin summit will trigger the next rush to the encrypted market.
Abra presents the Fiat-To-Crypto support for Bitcoin, Litecoin & More
Although this news could be seen as a positive sign for the entirety of the cryptographic market, Abra, a popular mobile-focused alternative to Coinbase has just announced that SEPA (Single Euro Payments Area) residents can directly deposit fiat in the app, which should make the purchase of the 25 cryptos was a breeze.
In a Twitter ad, the California startup wrote:
"Excited to announce that Abra is launching Bitcoin's in-app European banking purchases and 25+ planting ptocurrencies for consumers in 28 countries."
Excitingly announcing that Abra is launching Bitcoin's in-app European banking purchases and over 25 cryptocurrencies for consumers in 28 countries. #bitcoin #euro #pound #cryptocurrencies https://t.co/8p4cDfAJwu
– Abra (@AbraGlobal) September 4, 2018
We hope this new feature will help drive cryptocurrency adoption in general, as an easy-to-use, accessible and efficient way to acquire cryptographic assets, like Abra, is needed at a time when this nascent industry is widely misunderstood.
Casa Begins works on LTC support for the Q4 2018 release
The founder of Litecoin, who spoke openly about his affection for Bitcoin and Litecoin projects in the past, recently asked Casa, a popular focused on Bitcoin infrastructure, if its products natively support Litecoin in the future.
Responding to Lee's tweet, the startup has just revealed that it is, in fact, working on Litecoin's support for its publicly available Node Lightning Network. The company intends to release Litecoin's support in the first four months of this year, which will clearly help drive the growth and development of the long-awaited network of lightning and atomic exchanges.
TBH, I did not expect @CasaHODL is working to support LTC so early. But it is answers like these that show that it was the right decision to integrate Litecoin and not compete with Bitcoin. And when companies see the added value of LTC, it's extremely easy to add LTC support. pic.twitter.com/OKkWWa0o50
– Charlie Lee [LTC⚡] (@SatoshiLite) September 4, 2018
Image title Courtesy of MaxPixel