Connect with us

Blogs

The rise of Litecoin (LTC) could be quicker than everyone expects

Published

on

Litecoin LTC

Following Litecoin (LTC) progress in the cryptocurrency market, it seems the digital coin is on the long-term rise recording upward value trajectory for the past few days showing no sign of stopping. That is the main reason why many investors and traders are looking into the virtual currency to try and predict its prices before this year ends.

Before we continue, it is imperative to understand that Litecoin (LTC) is far more similar to Ethereum and Bitcoin than one could expect. Only by understanding their shared attributes and features is when you will be able to predict its value and price easily (and close-to-perfect).

At present, although facing a lot of resistance at the 77 US dollar level, Litecoin is on its way up with signs of fetching higher prices against Bitcoin (BTC) and the US dollar. The virtual currency is facing a lot of resistance at the 77 US dollar mark.

Currently, Litecoin (LTC) is exchanging at 74.9 US dollars after a price appreciation of 1.09% over the past 24-hours. In regards to its market capitalization, Litecoin boosts of an impressive $4.32 billion worth of market cap with a trading volume of over 271.6 million over the past one day.

Litecoin (LTC) Price Analysis and Movement

Although taking the market by storm with plenty of good news, Litecoin (LTC) has had several price declines recorded beneath the 77 US dollar level against the US dollar.

Litecoin (LTC) depreciated beneath the 75 US dollar support level and further declined to a new significant support level of 72.50 US dollar level. From the graph of the virtual currency, the price of Litecoin (LTC) found offers close to the 72.5 US dollar mark and began correcting higher.

Despite the adverse movements, the virtual currency managed to surge over the resistance level of 74.5 US dollars breaking the 50% Fibo retracement level of the prior swing from a high of 78 US dollars to a low price of 72 US dollars. Litecoin (LTC) also exchanged over the 76 US dollar level and the 100-hourly SMA.

Notwithstanding, Litecoin (LTC) faced opposition at the 77 US dollar level and the 76.4% Fibo retracement mark of the former swing from the high and low of 78 US dollars and 72 US dollars respectively. Also, with a resistance level of 77 US dollars, it seems the formation of a critical bearish trendline might be on the offing.

If Litecoin (LTC) manages to break below its immediate support level of 74.5 US dollars, the price valuation of the virtual currency is likely to test the support area of 72.50 US dollars.

On the other hand, if Litecoin (LTC) manages to break the resistance level at 77 US dollars, it could open doors for more good news and gains towards the much awaited 100 US dollar price level and beyond.

Virtual currencies could benefit a lot from dosages of positive reviews and comments in sustaining their rallies from the previous month. A lack of positive news and reviews risk another cryptocurrency downfall that might lead to huge loses all over the place. Cryptocurrencies such as Litecoin (LTC) should strive to continue maintaining their green performances by giving cryptocurrency community members reasons to invest and trade their virtual assets.

For the latest cryptocurrency news, join our Telegram!

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 Maxpixel.net

Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

Published

on

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…

Continue Reading

Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

Published

on

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…

Continue Reading

Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

Published

on

Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

Continue Reading

Press Release