In the last 24 hours, amid some good Litecoin news, LTC is recording rather impressive gains. For several days, the seventh largest digital currency by market cap balanced just below $50, been unable to hit this important milestone (once again).
However, this changed recently, when LTC price surged by almost 3%, which allowed the coin to hit the $50 mark finally, and even exceed it. At the time of writing, the coin’s price is just above $54, with a 0.1% increase in the last 24 hours.
While a lot of LTC supporters greeted this Litecoin news, the coin has yet to stabilize. Due to the fact that the market still has not left the bearish trend behind, LTC might still drop to its old price.
However, many see this as big progress, believing that Litecoin will remain above $50. This is supported by the fact that LTC has already experienced slight drops since it passed this milestone, but its price has not gone below it. While it is still too early to say that $50 is the new bottom, many hope that his will turn out to be true.
Any predictions made right now are unreliable, as Litecoin is trying to stabilize after finally making this progress. Ever since it initially surged, its price was jumping up and down, usually by a few cents.
However, the trading volume has, in fact, go up by quite a bit. Following the Litecoin news, LTC volume increased to $372 million. Earlier price predictions for LTC claimed that the coin would hit as much as $600 by the end of the year. Considering how things are now, this almost certainly not going to happen, and it would take quite a bull run for LTC to even come close to this milestone.
Numerous analysts agree that something like this can still happen in 2019. Right now, Litecoin is clearly growing and attempting to establish itself at its new price. The effort is evident to analysts and investors alike, and the coin’s community has been thrilled to see such progress.
Why is Litecoin attracting attention?
Despite the fact that Litecoin is decentralized — it still managed to attract the attention of institutions, and even crypto funds. Investments started coming in, and this is likely the reason for the current growth. It is also open-source, it offers better speed than Bitcoin, and it is a cheaper option for those looking to make transactions.
In addition, the mining process is simpler, volatility is lower than that of BTC, while developers are quite skilled. On top of that, its total supply is relatively low, at 84 million tokens, all hardware wallets support the coin, and finally, LTC is one of the favorite coins of the people of China. Clearly, LTC has a lot of good things happening, and it has a lot to offer.
While it is unlikely that 2018 will end with LTC hitting $600, it is undeniable that the coin is making serious progress.
For real-time trade alerts and a daily breakdown of the crypto markets, sign up for Elite membership!
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 and read our full disclaimer.
Image courtesy of Pexels
XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
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…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…