Litecoin has made headlines in recent weeks and in particular after obtaining a surprising comeback from $ 58 to $ 63. Although this was followed by a price correction and the currency was traded around $ 61, and at the time of printing was traded for $ 59, this amazing wave was a glimmer of hope for Litecoin fans.
However, these prices still remain far below the highs that the currency was recording at the start of the year. Litecoin has peaked at over $ 100 and has halved the price in less than five months. So, could we see Litecoin hit $ 100 even before the end of the year?
Latest Litecoin updates
It is always an important milestone for a currency when it is listed on a stock exchange or in a portfolio. Such incredible results are always rewarded with price increases and therefore perhaps Litecoin being quoted on CoinText could be the catalyst necessary to increase Litecoin.
CoinText is a service platform that allows users to send cryptocurrencies to cell phone numbers. The coins already listed include bitcoin, Dash and now Litecoin.
In a world where cryptocurrencies are perceived as too complicated to manage, this service is set up to make the cryptocurrency exchange much easier to use and exchange. The platform is set up to make mainstream cryptocurrencies and make them easy to use on a daily basis.
According to the CEO of CoinText Vin Armini;
"CoinText makes sending cryptocurrency as easy as sending a text message – it's a powerful tool for communities to spread the adoption of their cryptocurrency."
Furthermore, more recently, Litecoin has been listed on SFOX. This platform opens it to institutional investors. This could have a big impact on its prices as institutional investors tend to shift prices when they invest in something. It will also add liquidity to the currency.
Speaking of the new listing, Charlie Lee, founder of Litecoin, said;
"This partnership offers greater liquidity and institutional exposure for Litecoin, and SFOX is supported by many well-known investors who talk about the company's business model and team".
The good news surrounding Litecoin could trigger a price hike that could reach $ 100. In addition, if that were not enough, every four years, Litecoin halves its reward to the miners. This creates demand for the currency and sees price increases.
If history has taught us anything, it is that when this happens, prices increase. So if it does not happen this year, it's almost guaranteed to happen next year.