Litecoin: an unpredictable future: There is a wide speculations about the price of Litecoin by the end of this year. This is on the backdrop of a recent spell of bullish run that has made the investors more optimistic than the prevailing ground reality. Thus, Litecoin is also following the suit. Despite the recent bullish sentiment this week, the Litecoin performance was not that encouraging as it gained but was among the laggards on the relative basis.
Among the top cryptocurrencies, Ripple led the charts by increasing 18 percent and the Bitcoin by 13.64 percent. However, Litecoin rose by 4.95 percent. On relative basis the performance of the Litecoin was not that impressive.
Litecoin Price Today
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Although Litecoin has the rollercoaster ride in 2017, this cryptocurrency has captured more than 50 percent of the total market cap of the cryptocurrency market. However the charts show the promising performance going forward.
The company has faced the tough times also. This is when company has launch a payment app, LitePay and immediately after the inauguration it has to cease all the operations after misappropriation of funds by the owner was discovered.
In this regard, Litecoin’s foundation director of operations Keith Yong said, Prior to that, the foundation had approached Kenneth regarding his less than transparent nature with the company and to express our, and the community’s, concerns regarding his recent Reddit AMA.
“It was at this time that Kenneth asked the foundation for more funds to continue operations. The foundation refused any further funding as he was unable to provide a satisfactory picture of where the money had been spent and refused to go into exact details about the company and show objective evidence to back up his statements.”
However, the founder apologized in his tweet to his followers. Favorable developments for the cryptocurrencies are occurring around the world. One such development was Korbit, South Koreas biggest exchange, launched Litecoin trading.
