Even if you are not a LiteCoin holder, you have probably noticed that not only your currency of choice was going down with the market dip – other currencies fell down in price as well, due to the “misbehaving” of the current market demand. Although there are millions and millions of crypto enthusiasts, the market has been going downwards for months now, with an occasional rise or two only the lucky coins were entitled to. Relying on luck when it comes to investing isn’t that easy, so you can definitely feel the tension growing among the majority of crypto enthusiasts.
Another tension broke out a couple of days ago when LiteCoin announced that their digital product, which was a part of a promising breakthrough for this currency, LitePay, was announced to be delayed indefinitely. How come LitePay is not going to happen and what can we expect from LiteCoin further from this point?
LiteCoin: LitePay is not going to Happen (Yet)
LitePay was announced to be released first around the end of February 2018, then was rescheduled for launching at the beginning of March. However, all LiteCoin users that have taken time to apply for LitePay by pre-registering have gotten interesting, although a disappointing email from LiteCoin development team in charge of LitePay project.
The email stated that LitePay was delayed for indefinitely. That means that LitePay may never happen, at least not in the near future.
LitePay was supposed to represent an easy way to make transactions anywhere in the world at the tip of your finger – easy, simple and with only a couple of clicks away. LitePay project was also planned to have LitePay Debit Cards, similar to those MasterCard and Visa are issuing. So, with LitePay, you would be able to make transactions easily anywhere in the world while also being able to send LiteCoin units from any wallet to the LitePay Debit Card.
LitePay Debit Card should have worked in a way to automatically exchange LTC to any currency, depending on which ATM you are using, where these cards would be accepted anywhere in the world where Visa and MasterCard are normally accepted.
However, this is not going to happen, at least not in the near future. The greatest problem for LTC is that the announcement of LitePay has brought this currency a series of more than several price boosts on the crypto market, so thanks to LitePay, LTC has managed to jump up to trading at over 233$ per one unit after the announcement of LitePay launching.
But, as it would be expected, as soon as LitePay was announced to be delayed indefinitely, the price of LTC started to drop.
The price soon fell from dealing at 233$ per one unit to dealing at 209$ per one coin, while it soon fell under 200$. At the current moment, LTC is trading in the red and is far from the price of around 233$.
LiteCoin: Why LitePay Had to Retreat?
The reason for having to say NO to LitePay, for now, is the sad fact that the developers behind LitePay and LiteCoin couldn’t find anyone to issue their cards for them as card service providers like Visa or MasterCard are not as friendly towards cryptocurrencies as investors and holders are.
That means that LitePay is impossible to make happen at the current moment because card service providers are not interested in partnering up with cryptocurrencies or in this case with LiteCoin. So, that is how LitePay ended unsupported and delayed possibly for forever because they weren’t able to grab attention and capture the interest of any of the card service providers that would propel their project.
That is how poor LTC started to drop in price, slowly giving into the black wave of the dipping crypto market that has been going downwards for months now.
However, if LiteCoin manages to come up with another solution that would enable LitePay to commercially exist without having to use cards; the problem would be, without any doubt, solved.
How is LiteCoin doing at The Current Moment?
LiteCoin was doing great after the announcement of LitePay launching where this currency started to deal at around 233$ per one unit, but eventually, when LitePay was announced to be delayed for indefinitely, the price consequently started to drop.
The aftermath price was done hovering around 209$ per one unit, but it soon fell below 200$ as everyone wanted to get away from the “sinking ship” and see what they can earn along the way, so it is supposed that the price continued to drop further because many holders wanted to make profit from the most recent rises in the price.
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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 BTC Keychain via Flickr
Here’s Why This Coin Still Has Wings (WINGS)
WINGS, a decentralized crowdfunding platform based on the Ethereum blockchain, has had a great run over the past two months. Culminating in a peak of US $.23 just a few days ago, the currency behind the product has more than doubled since it’s lows of early September.
Despite the slight downturn WINGS is currently experiencing, this crypto-favorite may not be done running up the green candles on your favorite exchange just yet. A small drop like we had today was actually expected and could be considered healthy by long-term investors. These dips are also appreciated by those of us waiting to get in on a project we feel has real potential. WINGS has shown us that potential and is now presenting a great buying opportunity for speculators and traders looking for the next wave of support to lift this coin into the stratosphere.
What is WINGS?
WINGS was created to nurture project proposals via the Decentralized Autonomous Organization (DAO) model. Using blockchain networks and smart contracts, the platform allows the WINGS community to promote proposals with the greatest chance of positive returns. WINGS, in essence, is a decentralized forecasting ecosystem, where token holders are given an incentive to make choices concerning projects on the platform.
The DAO is a popular concept for crypto-projects that want to remain entirely on the web. Using the peer-to-peer technology of blockchain and smart contracts to enforce the rules of participation is…
6 Blockchain Predictions For 2019
As 2018 moves closer towards its end, investors, developers, and tech enthusiasts are starting to turn their gaze towards the future. 2019 is less than two months away, and it promises new breakthroughs and large changes. This is especially true when it comes to blockchain technology.
While 2018 was an important year for this technology’s development, many are wondering what awaits us in the near future. Because of this, we have created a list of 6 predictions regarding the blockchain, as well as what might happen to it in 2019. Let’s begin.
1. Search for new and better business use cases
Blockchain technology is wrongly seen by many as a magical way to resolve all issues that we struggle with today. However, while it is true that blockchain can help with a lot of them, there are still numerous other problems that are better suited to be solved by alternative technologies. Robotics, AI, and similar technologies are not to be discarded in blind faith in the blockchain.
Researchers and developers have recognized this, which is why 2019 will be dedicated to finding specific use cases for blockchain technology. Blockchain will be used in situations where it can have the strongest positive impact. In other words, the goal is not to find places where this tech can fit, but to find places where it is the best fit.
2. Fixing blockchain industry’s image
For a lot of people, blockchain…
TRON DEX Goes Crazy, TRX Founder Asks For More Projects
Less than a week ago, TRON (TRX) community uncovered a new DEX (decentralized exchange) on Tronscan.org. Since TRON community is among the strongest and most supportive communities to ever support a coin, trading activity on this DEX quickly skyrocketed.
So much so, in fact, that TRON’s founder, Justin Sun, felt that he should share this fact on his Twitter account.
— Justin Sun (@justinsuntron) November 13, 2018
TRON DEX sees massive growth in activity
Since Sun shares a lot of traits with TRX community, such as tirelessness and fascination with this project, he was quick to urge the community to come up with additional tokens and projects.
While Sun’s statement that the activity on the DEX is “going crazy” is pretty accurate, many do not realize just how accurate this is. It should be pointed out that the number of tokens on the exchange was 3 on November 10th, when the DEX was originally uncovered. Today, on November 13th, the number of available tokens has doubled.
In addition, 4 out of 6 trading pairs offered on the exchange have experienced significant gains, with the remaining two experiencing only slight drops. The growth was experienced by Dice/TRX (146%), TronWatchMarket/TRX (8.27%), WIN/TRX (89%), and SEED/TRX (1.73%). The drop was experienced…
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