Litecoin [LTC] has recently been on a high note after its hike to the $60+ levels. However, it has yet to reach the levels of above $100 as seen earlier this year. Post exciting developments in the Litecoin space, there remains one question on investors’ minds; will Litecoin recover?
Recent news in the Litecoin markets includes the introduction of the coin to CoinText. CoinText is a service that lets users send cryptocurrencies such as Bitcoin Cash [BCH], Dash [DASH] and now Litecoin to a mobile phone number. This product is set to make cryptocurrencies accessible to the everyday population.
The CEO of CoinText, Vin Armini, said:
“CoinText makes sending cryptocurrency as easy as sending a text message. It’s a powerful tool for communities to spread adoption of their cryptocurrency.”
The coin has also been added on an institutional-grade investment platform. The exchange is known as SFOX and is said to cater to big investors such as institutions and high-volume professional traders. Litecoin is the fourth cryptocurrency that is listed on the platform.
Charlie Lee, the creator of Litecoin, also spoke on the listing. He said:
“This partnership provides increased liquidity and institutional exposure for Litecoin. SFOX is backed by several well-known investors, which speaks to the company’s business model and team.”
This movement of Litecoin into the mainstream will directly drive the adoption of the coin. Moreover, the ongoing presence of the #PayWithLitecoin social media campaign is providing awareness of the coin and its use for everyday payments.
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