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Litecoin News: LTC Struggles to Remain Above $60

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Litecoin News

The latest price of Litecoin (LTC) is going through a difficult period once again. After reaching $64.42 mark last week, LTC experienced losses once again. Most of these losses came on Friday afternoon, with Litecoin’s value dropping below $60.

Litecoin news revolves around a delicate balance

This newest price drop came as the coin lost momentum after reaching its three-week high. Saturday brought another small price surge that managed to bring LTC back to $60+, where it remained ever since. The struggle continued throughout the next several days, including Sunday, and even Monday.

Since the initial drop on Friday, most of Litecoin news has been following the struggle. Many have attempted to predict where the coin might go from here. Some believe that this is a beginning of a downward trajectory for LTC. Several nosedives that Litecoin has experienced already have not been very encouraging.

As always, there are optimistic coin holders who believe that this is only a minor bump on the road. They also claim that LTC will soon recover, and will even reach the $70 mark. Whether this can actually happen or not, still remains to be seen.

At the time of writing, Litecoin is balancing at $60.10, with a market cap of slightly more than $3.5 billion.

Recent Litecoin news brings positive development for the coin

The current Litecoin news is not very clear, and most investors are waiting at the edge of their seats to see what will happen next. Despite this, there were also some positive moves in the last few days. One of them includes LTC’s introduction to CoinText. This is a service that allows its users to send different cryptocurrencies by merely using mobile phone numbers.

CoinText allows users to send Bitcoin Cash, Dash, and even Litecoin, thanks to the recent decision. By doing this, CoinText aims to allow cryptocurrencies to reach even more people in an easy and interesting way.

In addition to this, recent Litecoin news also tells that the coin was added to an exchange called SFOX. This is an institutional-grade investment platform that is said to cater some larger investors. This includes investment professionals and even several institutions. The platform has listed only three currencies before the addition of Litecoin.

Litecoin’s Charlie Lee has greeted the move and has stated that the partnership will increase Litecoin’s liquidity. Even more importantly, it will expose LTC to institutional investors. Even SFOX itself is backed by many known investors, which confirms the quality of the company, its team, as well as its business model.

Clearly, Litecoin has had several big moves in the last few days. The new price struggle will likely result in the coin rising above the previous $64.42 milestone ultimately. At least, if optimistic predictions are to be believed. Judging from the new listings, there is certainly a possibility for these predictions to actually come true.

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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.

Photo by Andreas Wagner on Unsplash

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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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 trading…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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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…

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Altcoins

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

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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…

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