Litecoin is steady amassing gains in the market that is rising after the United States tax deadline. Bullish sentiment backed by the unique abilities of LTC in a swift processing of the transaction. Moreover, the overall positive momentum in the market has helped the LTC in generating hefty returns.
Young startups have taken Litecoin since May 2017, when it served as the host platform that allowed completion of the initial Lightning Network transaction, with 00000001 LTC going from Zürich to San Francisco in less than one second.
Litecoin Price Today
Further, the tax deadline was the tough week for the market as the prices of the assets plummeted. However, the concerns for the large sell off tapered off as the price didn’t decline as was expected. Nevertheless. The momentum returned with full force after the deadline passed.
It should be noted that Litecoin is the popular currency on the dark web a part of the internet that blocks IP location and allows for truly anonymous browsing and access to deeper parts of the internet. Earlier bitcoin was the currency in the dark web, but as bitcoin parted its ways from the dark web, Litecoin has taken its place.
Moreover, the Forbes listed five key reasons for the sanguine outlook for optimism when it comes to Litecoin.
- Increasing user base has aided the Litecoin to jump the top five cryptocurrencies, allowing LTC to trade on Coinbase, one of the largest exchanges in the world.
- Higher processing speed with respect to transactions
- Positive sentiments among the traders is rising
- A survey conducted by ambcrypto.com highlighted the acceptance of Litecoin at 54 percent
- Omkar Singh, an altcoin correspondent from Mumbai says:
“Litecoin is very much undervalued in the present times. The Litecoin supply in circulation now is 56 million out of the available 84 million. This means that almost 2/3rds of the total is in circulation which leaves a total of 28 million to be mined.”