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Litecoin News: LTC Pushes Up, Breaches The Old Limit

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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.

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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.

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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