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Litecoin has a massive run to start 2019 and has reached 6th placeth in January. This is followed by a stagnant performance at the start of the year, with the price being around $ 30. According to CoinMarketCap, the price of 6th January reached $ 39.84, the highest of the year so far. This trend has seen a decline from reaching the peak, however it is still a promising sign. It is widely assumed that this is due to the company's partnership with UFC, the world's leading MMA combat organization.
Litecoin is commonly called "digital silver". While bitcoin remains the most accepted "digital gold" resource on the market, Litecoin is considered silver because of its fast transaction times and extensive use cases. The year 2018 was a difficult year for Litecoin, as the currency suffered a sharp decline from its highest all-time levels in December 2017 / January 2018. However this new rally at the beginning of January could be the signal of a future upward run for Litecoin, where many speculate the currency could return to $ 50 or more.
Litecoin partnership with UFC – Organization n. 1 MMA in the world.
UFC is the # 1 MMA fighting organization on the planet. With a huge array of fighters and a large audience, it is an attractive association for many domestic brands to collaborate with. At the end of 2018, Litecoin became the first cryptocurrency to advertise with the UFC through a sponsorship agreement. This agreement entered into force on 29th December with the UFC UFC event 232: Jones vs. Gustaffson, in which two of the best heavyweight fighters in the world have challenged for the title. Litecoin has now become a pioneer in sponsoring a UFC event, the first cryptocurrency to do so.
As for the news, Charlie Lee, the original founder of Litecoin, tweeted the following:
"We are thrilled to announce that the Litecoin logo will be on the official cover of @UFC 232's official cryptocurrency on 12/29 at Inglewood CA!"
The Litecoin logo was placed on the canvas of the octagon where fighters fight. This highly visible product positioning was shown to millions of users around the world during night fighting, driving awareness and consideration of the Litecoin brand. According to a blog published by the Litecoin Foundation, there are many similarities between the Litecoin brand and UFC, as both have surprising communities that provide "unshakable passion and enthusiasm that keeps pushing forward".
Awareness of future potential
On his blog, the Litecoin Foundation has declared its intention to continue a long and fruitful collaboration with the UFC. According to the blog post:
"We consider this sponsorship as the first step towards what will hopefully be a long and fruitful relationship with UFC We look forward to the possibility of doing amazing things with this incredible organization".
Boost of awareness
Second Light school on Twiter, Litecoin has made a trend with a score of 100 after Litecoin was announced during the event. This number is as high as we can get.
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