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Litecoin (LTC) at New Lows This Year. Is It Time To Get Some More?
Current analysis of the current levels witnessed by Litecoin (LTC) indicates that the coin has recently hit new lows for the year. LTC is currently trading at $96.80 and down 8.64% in the last 24 hours. Further analyses indicate that a new low was achieved on Wednesday, 14th of June when the coin was valued at $94.97.
Doing a bit of time traveling and checking when LTC last reached these levels, we find that LTC tested these levels, back on the 28th of November. Litecoin would later skyrocket to new levels of $339 on December 12th and $371 on December 19th according to coinmarketcap.com.
So, is it a good time to buy some Litecoin?
Warren Buffett is one investor who does not shy away when the traditional stock markets are in turmoil. As a matter of fact, this is the time Buffett is known to get excited about buying stocks. He loves to buy and hold.
But we all know Buffett does not like cryptocurrencies.
Very true. But we can still borrow the analogy. Litecoin is at a very low level right now. Anyone with additional capital and the risk tolerance of the cryptocurrency markets can go ahead and buy. However, please note this author is not a financial adviser. He is simply working from observing past trends.
Recent Litecoin news.
Abra Global has been bullish about Litecoin (LTC) for quite some time now. The company’s CEO has even stated that the company will be using LTC as their primary digital asset moving forward. They will use Litecoin for their smart contract investing solution because of 3 reasons outlined below:
- Commitment to Bitcoin compatibility
- Better scalability than Bitcoin
- Lower transaction costs than those of Bitcoin
The Abra Wallet has since added Litecoin to the platform and supports direct withdrawals and deposits of the coin.
Litecoin is still living in the shadows of the disappointment of Litepay which was canceled abruptly due to what Charlie Lee termed as lack of due diligence. But time is always a factor for such a project to recover its footing in the crypto-verse. Perhaps this new low value is a sort of ‘reset button’ for the coin and project to start afresh on a new leaf.
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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 Pexels
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. One of the ways to have a successful…
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…
Altcoins
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…
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