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Litecoin (LTC) Advances – Its Value Might Surpass Old Records in 2018

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Litecoin (LTC) is still largely unstable when it comes to its price, and is struggling to handle the constant market crashes and recoveries. Still, experts believe that this might change in the near future, due to many new partnerships that the coin has entered so far.

Litecoin (LTC) has seen a lot of progress

Ever since the value of cryptos skyrocketed at the end of the previous year, nearly every coin has suffered due to many market drops. The situation was bad at the start of 2018, but it is getting better, ever so slightly, as the year progresses.

Litecoin (LTC) is not very different from others in this regard, but it has a lot of potentials to explode in the near future, according to experts. This is mostly because the coin has been getting more and more accepted and adopted into different platforms. One of the latest news regarding its progress states that it is compatible with Blocknet now.

Blocknet itself has a lot of potentials, and it works as a way to transfer data without it going through the central server. LTC’s compatibility with Blocknet will also allow for the coins to be used as a cross-blockchain method of payment. Users will now have the ability to use LTC to buy any other currency, and vice-versa. This will surely increase LTC’s exposure, as well as its popularity.

However, this is not the only achievement that LTC has had in the recent past. It was also added on Winklevoss twins’ exchange platform Gemini, and there are plans to add it to the mobile crypto wallet called Abra. Komodo (KMD) has also stated that the exchange platform BarterDEX is pairing it up with LTC, which is yet another place where this crypto is getting exposed and used.

P2P LTC trading has also become a possibility on OpenBazar, an open-source crypto exchange platform. Not only that, but this particular crypto is also being favored by one of the biggest stock exchanges in Germany, Börse Stuttgart, who is launching its own crypto-trading app, Bison.

Considering how well LTC has been doing regarding the various deals and partnerships, many are wondering why this has not reflected on its price. It has even experienced a drop in 20% during the previous week. However, the price isn’t only falling, and the last 24 hours have seen a slight increase as well.

Charlie Lee has stated that the price of LTC, despite the fact that it is dropping, still has a lot more value to it than it had a year ago. Back then, LTC was only $30, and now it goes from $130 and $180, depending on the market. Bitcoin (BTC) is experiencing the same issues, and yet, it too is much higher than it was a year ago. Still, LTC has a large increase coming up in the near future, and there are several reasons why this might happen.

Reasons why Litecoin’s value may increase soon

The first reason why LTC might do well very soon is Bitcoin itself. After all, LTC, like many other currencies, often mirrors BTC’s behavior. However, whenever there is an increase in activity regarding the BTC transactions, its fees go up, while the network slows down. This is when the investors usually discover that LTC offers a much better deal in both aspects, and they decide to start working with it instead.

Also, LTC is now present on Coinbase, which has a constant increase in users. More users on Coinbase means more users discovering Litecoin and its potential, which will be followed by an increase of its use, as well as of its value.

LTC’s low fees and great speed are already good enough reasons to start using it. Add to that its sound platform and excellent blockchain solutions, as well as the fact that it is already a well-established project, and it becomes a very attractive alternative to BTC. The more people realize this, the more partners the coin gets. Also, the more partners it gets, the more media coverage follows. With an increase in exposure, the more people start to use it, and the whole process spins the same circle once again.

Litecoin is a great crypto, and many see it as second only to BTC itself. Its potential definitely promises that this may, in fact, be true. Compared to many other cryptos, LTC is actually pretty steady and stable, and it is believed by both Charlie Lee, as well as LTC supporters that it is only a matter of time before this crypto shines.

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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.

Image courtesy of Marco Verch via Flickr

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How is the Crypto Market Changing?

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It has been around a month and a half since the start of 2019, and there are already some pretty obvious changes in the way the crypto market operates, especially when compared to the last year. Early 2018 was almost a complete opposite. The previous year started with cryptocurrencies at their strongest, only to see them crashing down after a few weeks. Back then, the ICO model was still quite strong, and so was the hype surrounding the crypto space. New investors kept entering the space, and new startups emerged with their tokens ready to be sold.

As the year progressed, things started to change. The prices continued to drop, the ICO model went down from around $1.4 billion in raised funds at the beginning of the year to only $100 million in the last month.

The ICO model lost investors’ trust, as many of the projects turned out to be either too weak to survive after the crypto winter struck, or scams which tricked investors out of their money and disappeared. Not to mention that the increase in ICOs popularity attracted the regulators who cracked down on them pretty hard, especially in the US.

With all of that happening, it is of a small surprise that the investors started giving up on ICOs, especially with the constant drops in prices which saw even the largest coins…

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Understanding the Uses of Different Types Of Cryptocurrencies

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Cryptocurrencies – a term which has become incredibly prominent in the mainstream media during recent years due to the proliferation of Bitcoin millionaires. As a result, the new form of currency has earned an almost infamous status. However, as with any major step forward, there is still much confusion regarding the use of cryptocurrencies, what different types of innovative electronic cash exist and what they might mean for the future.

We’re putting all of this to rest as we explain what each of the leading cryptocurrencies can do.

Bitcoin

The most popular form of cryptocurrency, Bitcoin was first thought up in 2008 by the elusive and still unknown creator, Satoshi Nakamoto, who published the whitepaper online.

It took almost a decade for the cryptocurrency to reach its peak, but in December 2017 a single Bitcoin roughly exchanged for the price of $17,000, meaning anyone who held a substantial amount of the electronic cash became significantly wealthy.

In its early years, the cryptocurrency was strictly used as an alternative for cash transactions, and predominantly for trading goods and services. However as it has increased in popularity, its range of uses has also widened, now deployed for a variety of purposes including acting as collateral for investments at merchant banks, a direct debit for subscriptions services and most notably for sports betting.

Ripple

Bitcoin’s closest source of competition, Ripple was founded…

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New DoJ Ruling May Cripple Gambling dApps

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A new decision made by the US Justice Department has expanded restrictions regarding online gambling in the US affecting gambling dApps. While the Federal Wire Act of 1961 prohibited online gambling regarding sports since 2011, the new decision expanded on this, and it now includes all forms of internet gambling. Unfortunately for many, this now also includes cryptocurrencies.

The new decision came due to considerable difficulties when it comes to guaranteeing that only interstate betting will take place and that payments will not be routed via different states.

The new announcement was explained in a 23-page-long opinion issued by the Department of Justice’s legal team, which pointed out that the 2011 decision misinterpreted the law. According to that decision, transferring funds was to be considered a violation, but data transfers were not included. By exploiting this oversight, it was possible for gamblers to turn to internet gambling. Unsurprisingly, many have realized this early on, including startups, as well as large, established firms. This, of course, also included cryptocurrency companies as well.

The new decision changes what is allowed online

The decision to include all forms of internet gambling is a massive hit in the…

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