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Here’s Why Now Is A Great Time To Pick Up Litecoin (LTC)

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Litecoin

Litecoin (LTC) has had a rough start to the year. From highs of more than $366 a piece back on December 19, LTC has dropped more than 64% to current pricing in and around $129. Sentiment is weak and the potential for near-term regulatory action out of the US has essentially put a dampener on any near-term recovery taking hold.

One thing we’ve been watching for, however, against the backdrop of what can really only be described as a bloodbath in the markets, is fundamental developments related to one or more of the top tier coins.

LTC Daily Chart

LTC Daily Chart

Our thesis is relatively simple – markets are basically blind to any fundamental advance right now. Developments that would normally push a coin higher as and when they hit press are going unnoticed and, as a result, the impact that they would normally have on price is being registered as null. For us, this translated to an opportunity. Why? Because we’re looking at these ignored developments from the standpoint that they are being stacked up in the background and that, eventually, when the markets recover and the weakened sentiment clears and then reverses, the stack of ignored developments is going to finally have an impact on price.

Developments in the bank, if you will.

And with Litecoin, a brand new such development just hit press and, as expected, is being roundly ignored by the wider cryptocurrency markets.

The news is that a company called LitePay is about to launch the first ever point of sale technology that will allow retailers to accept Litecoin from customers. The technology allows for real-time exchange of Litecoin to fiat (local fiat, that is) meaning the retailer isn’t having to take on any fluctuation risk and it’s supported by a fee payment of 1% (which compares to the 3% or more that’s associated with current POS methods – MasterCard, Visa, etc.

It’s worth noting here that the report hit press through the Express website, so initial claims of a near-term launch (especially given that the outlet based its report on ‘insider information’) were dubious.

Shortly after the reports hitting press, however, Litecoin founder Charlie Lee Tweeted the article, suggesting that there’s some credence to the near term launch expectations. He also followed up the Tweet with another detailing the near-term launch of UnoCoin (and Litecoin’s listing as one of a handful of coins that will be available through the exchange) and a report outlining the launch of Litepal, which again looks to be a full suite Litecoin payments processing company.

To put all this another way, it’s about to get a whole lot easier for people to use Litecoin to buy things in the real world and for brick and mortar retailers to accept cryptocurrency for goods and services.

If this had hit press a couple of months ago, we’d be seeing a spike in the price of LTC in anticipation of the realization of improved access translating to an increased demand for the asset.

Instead, however, you only have to look at the chart above to see what’s actually happened – LTC is down another 16% versus fiat and is even a few points lower against BTC over the last twenty-four hours.

The thing to recognize here is this: these developments cannot stay unnoticed forever.

Once the current sentiment cloud lifts and markets start to act rationally (in the sense of responding to developments as opposed to selling off on assets regardless of what’s going on under the hood), the LTC space is going to cash in on the stack of news and developments that’s waiting under the radar right now.

We will be updating our subscribers as soon as we know more. For the latest on LTC, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency.


Image courtesy of Litecoin

Bitcoin

Blockchain technology outshines Bitcoin and Gold during global pandemic

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As the popularity of cryptocurrencies such as Bitcoin begins to level up with investments made in metals such as Gold, together they have both made significant advantages for investors who have taken a leap to invest in them.

However, thanks to the pandemic and the dynamic shift in investing and the economy, many investors have seen fluctuating losses and gains thanks to the uncertainty of the current business world. 

Many investors that backed companies who have exposure to blockchain technology have seen an approximate amount of 54% return on investments over the past year. This is even after considering how hard the global tech market and companies have been hit since the beginning of the pandemic.

What is blockchain technology?

Blockchain technology was first introduced as a supportive technology for Bitcoin. A blockchain is a simple, unchangeable and un-hackable digital ledger that holds transactions in little blocks attached to a chain. The transaction is duplicated and distributed across the entire network of systems on the blockchain, making it available for everyone on the network to see. 

Each block in the chain contains various transactions which are recorded on the participant ledger every time a transaction takes place. The database is decentralised and is managed by multiple participants known as Distributed Ledger Technology (DLT).

Although blockchain technology was birthed from Bitcoin and was widely adopted for the use of cryptocurrencies, the way it works and its security has made…

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Bitcoin

Bitcoin Surges After Tesla Bought $1.5 Billion Worth of BTC

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Cryptocurrency

The sudden rise of Bitcoin has been connected to the decision taken by the Tesla electric car company to buy $1.5 billion worth of Bitcoin.

The company explained in a filing with the Securities and Exchange Commission (SEC) that it bought Bitcoin to diversify its cash returns and more flexibility.

Musk’s Tweets also impacted Dogecoin’s price

Tesla also added that it will start accepting Bitcoin payments for all its products, although this will be based on a limited basis and applicable laws. If the company concludes and starts accepting cryptocurrency, it will make it the first major car manufacturer to accept Bitcoin payments. The company’s founder and Chief Executive Officer Elon Musk has developed an interest in Bitcoin and cryptocurrencies.

He has been tweeting severally about the viability of the Dogecoin (DOGE), which doesn’t have an important market value attached to it.

Few hours after endorsing Dogecoin, the cryptocurrency rose by an impressive 50%. But regulatory authorities are still concerned about the risks in cryptocurrency investments, with several regulatory bodies warning traders and investors they could lose all their money from crypto investments.

But for Tesla, the company decides to diversify its funds and increased its cash returns. However, Tesla also warned investors about the volatility of Bitcoin’s price in its SEC filing. According to the SEC…

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Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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