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The crypto-sphere has been riddled with a myriad of problems and the bear market has seen many traders emerge from the crypt in a fault that leads to widespread panic. This seems to have left Litecoin under the red light, since its founder, Charlie Lee, shifts the attention of the platforms by criticizing the security flaws of the Ethereum systems.
It has been a difficult year for cryptocurrencies while bears continue to take control of the market. Litecoin (LTC) has been received from the beginning of the years with many owners who anticipated some corrections in favor of the currency. The downward trend in LTC prices has seen the panic of many investors sending the currency to oversold territory.
The entry of Litecoin into the oversold territory is not new in the market and past cases have shown a decline in popularity and traders coming out of other currencies are driving upwards. The low price of Litecoin is intended to excite buyers by creating interest and this will increase the purchase will surely increase the price by making LTC the currency to watch before the close of the fourth quarter.
Litecoin (LTC) Charlie Lee on Ethereum (ETH) Future Immutability
In other news, the founder of Litecoin, Charlie Lee, made the blow to the ecosystem of Ethereum, immutability . For the Encrypted Enthusiasts, the attack seems to justify the fall in LTC prices and shift the focus to that of ETH, which was also affected by the fact that it is the second largest currency in the market. Lee argues that since the platform is not immutable, there are chances that its transaction is subject to manipulations in the future:
"It is difficult to see certain transactions but the problem with Ethereum is, we have already seen, we have already shown and demonstrated that transactions on Ethereum are not immutable for most cases. "
Lee goes on to say that it makes more sense to use Bitcoin when large amounts are involved and Litecoin for small amounts, a marketing gimmick that might not be received well from the community of Ethereum. Lee concludes:
"Establishes a bad precedent that governments can approach the developers' foundations and convince them that this transaction is negative because it sends millions of dollars to a terrorist group, so nobody likes terrorists, but sound money is important that the transactions are immutable. "
This happens at a time when the price TH had a free fall below the $ 200 mark. However, price action could be a thing of the passed once the developer team shifted its focus from the current system to the stake test protocol (PoS).
Litecoin (LTC) Listing on Itbit to Big Boost
After the release of Litecoin Core v0.16.2 which found minor bugs, more features added and improved performance. LTC was also added to the ItBit exchange. These moves are ready to increase the visibility and adoption of coins that could make the price run when the year is approaching.
The ItBit exchange is a digital trading company fully regulated by the NYFDS and has a huge audience in the United States and see Litecoin get more exposure in the United States and beyond. This is a greater trust among investors. The good news will see the currency overcome the oversold zone to begin is a long journey towards recovery.
The update of Litecoin Core and the listing of ItBit have not had a significant impact on its price which has been overshadowed by the bear market. The LTC price is still on the red zone with a drop of 1.08% and 1.20% against the dollar and Bitcoin, respectively, at $ 54.29 in the last 24 hours. The DOBItrade exchange leads in volumes to 26.51% of the total negotiated with LTC / BTC the most popular pair.
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