Litecoin (LTC) had a bad run during the second quarter of the following year when EOS took its place as the fifth largest just to have Stellar (XLM) exceeding LTC in the market capitalization ranking
Despite the negative market trends that robbed Litecoin for its place in the top five cryptocurrencies, LTC managed to exceed $ 60 in this way by motivating the community during the last week.
meanwhile, the Litecoin development team announced that the new version of Litecoin Core 0.16.2 will be officially released.
However, despite the fact that the team made some important updates, LTC dropped below the price of $ 60, now touching $ 54 for a Litecoin.
Litecoin Core Version 0.16.2 Officially Released
September 8 th the team behind the 7 th the largest currency, Litecoin, announced that the new Litecoin Core vers called 0.16.2 is officially released.
Although Litecoin has shown tremendous progress during the previous week while it was worth $ 60 and even going up in what appeared to be a decent bull run, the currency soon collapsed despite new versions of the system.
The Litecoin team did not do so on this occasion because they only shared the news on the release in one of the recent posts on their official Media page and on Twitter.
In the announcements that the Litecoin team shared, team representatives described the new 0.16.2 version as a small addition to system updates where numerous bug fixes were added to improve overall network performance.
the team also added in their announcement that the new version of Litecoin Core also includes performance improvements in the form of new additions to the system as well as bug fixes and several new features.
Litecoin was created as a fork of Bitcoin with the idea of accelerating the transaction verification process, thus recovering a light payment method based on blockchain, being almost 5 times faster than its parent chain, Bitcoin .
However, despite the fact that LTC is conducting a successful adoption campaign, Pay with Litecoin, and the most recent major update, Litecoin has seen a fall in its market price, once again going under the value of $ 60.
During the last week, Litecoin has had a major impact on the community, as it has reached a value of $ 60 even going above this price. However, the value of LTC fell rapidly again, with the currency still occupying the place of the seventh largest currency by its market capitalization.
In the declaration on the release of the new version of Litecoin, the team also added that the new Litecoin wallet generated will not work with the previous version of the system, while the existing wallets can be run on both the previous version and the 0.16 version .2.
It is said that the work on the last update has lasted months, although the version is not compatible with Windows XP. The team also alerted the community and LTC users to make sure their portfolios are backed up before accepting new updates to the system as there may be unexpected bugs looking for attention.
Litecoin in the Market  Litecoin has certainly seen better days since it was launched for the first time as a hard fork derived from the original crypto, Bitcoin, since it has lost its place since long time as the fifth best currency for quite some time before it was eliminated from the EOS (EOS) uprising.
In addition, Stellar passed Litecoin not long after, taking him to seventh place in the official classification.
Litecoin was one of the top performers of the previous week, touching the value of $ 60 and further higher than this price.
However, although the team has released the new version of Litecoin Core which has made bug fixes also improving the overall performance of the network, LTC has dropped again below 60 $.  Wi the last market decline, LTC fell -1% against the dollar, being traded at the price of about $ 54 on September 10 .
Meanwhile, the Litecoin team is promoting the annual LTC summit to be held on September 14 and September 15 in San Francisco, known for being one of the major centers of blockchain technology.