Litecoin (LTC) News – Litecoin (LTC) rises 138% year-to-date

Spread the love

Litecoin (LTC) has been one of the best cryptocurrency performers in 2019. At the start of the year, it was trading around $ 31.7. Currently, it is trading around $ 75. The rally clearly indicates that in a matter of just five months, it has been able to rise by almost 138%. It makes it one of the best cryptocurrency performers in the current year.

Litecoin (LTC) rises 138% year-to-date:

Another development which has gone unnoticed is that the volumes in Litecoin (LTC) went from $ 400 million to $ 2.5 billion. It clearly indicates that the rally in Litecoin (LTC) has been on the back of higher volumes. Whenever the rally is on the back of higher volumes, it clearly indicates that it is not just a short-lived impulse. That is why many people believe that the current prices of Litecoin (LTC) are here to stay.

Still long way to go:

Even though the price appreciation has been on the higher side, but there is a long way to go for Litecoin (LTC). The all-time high of Litecoin (LTC) was around $ 375. It was merely 18 months back. That is why a lot of the investors are still trapped at higher levels. It remains to be seen how much they can recover. The price of $ 375 seems to be a pretty away.

Reducing fees:

Recently, Litecoin (LTC) launched the Litecoin core v0.1 7.1. There are a few changes in this launch. The changes were pertaining to privacy features, the policy change, wallet format and user interface changes. However, one of these changes has been quite significant. The fee policy changes ensured that the fee of Litecoin (LTC) has reduced by a factor of 10. With such low fees, the transaction volume is sure to increase in the future as well. Currently, the fee is around 0.0001 LTC/ kB. With the help of such low fees, it can quickly increase its market share.

According to one of the developers of Litecoin (LTC), the aim behind the reduction of fees was to make it cheaper for the actual users to transact in Litecoin (LTC). They are trying to increase the adoption of Litecoin (LTC) to make it even more popular. In August 2019, it is expected that the mining reward will also decrease accordingly. The mining reward will reduce to 12.5 coins from 25 coins.

Thus, it seems like things are working out for Litecoin (LTC). With the surge in pricing, the limelight will once again focus on Litecoin (LTC). It can help it gain even more market share.

About Manish 352 Articles
I am an avid crypto lover and a electronics & telecommunications engineer by qualification. I follow the cryptocurrency & blockchain industry closely to focus on the latest news & developments.

Be the first to comment

Leave a Reply

Your email address will not be published.