Charlie Lee must be a delighted man. It’s been a fantastic week for Litecoin, and while we all keep talking about other cryptocurrencies and Litecoin slips under everybody’s radar, they are scoring incredible achievements that can take the token’s value all the way up to 100 USD and maybe even beyond.
Just look at this three outstanding achievements and keep in mind that they all happened within a single week:
The Litecoin Foundation acquired a 9.9% stake in Germany’s WEG Bank.
Last July 10th announced a strategic partnership that is nothing short of spectacular. In Charlie Lee’s own words:
“This partnership is a huge win-win for both Litecoin and Tokenpay. I’m looking forward to integrating Litecoin with the WEG Bank AG and all the various services it has to offer, to make it simple for anyone to buy and use Litecoin. I’m also excited about Litecoin’s support in Tokenpay’s decentralized exchange.”
Other announcements for new strategic partnerships announced along the week were:
- Multisignature Transaction Engine
- TPAY Cryptocurrency
- eFin Decentralized Exchange (DEX)
- WEG Bank FinTech Platform
All of the above will be using Litecoin’s blockchain technology to develop their blockchain initiatives. But owning a piece of a bank is the real story here. Litecoin didn’t buy the shares. They were TokenPay’s, and they gave it to the Litecoin foundation against the technology, expertise, and work of the LTC team and founding members.
It’s 9.9% only because that’s as high as you can go to Germany without running into the regulatory red tape. But TokenPay is still positioned to buy up to 70% of the bank, and they will remain a very close partner to Litecoin.
Let’s take a minute to think about what this means. Here we have a cryptocurrency that owns (at least partially) a real-life bank. Let’s face it. Nobody saw this coming; everybody expects banks to buy cryptocurrencies if they get involved in the cryptocurrency game at all. So this alone is a fantastic example of original thinking and bold strategic planning from Charlie Lee.
But that’s the least of it. The hardest obstacle any cryptocurrency has to overcome is to jump from a bunch of esoteric code running on a geek’s hardware into a real-life product that can solve real-life problems for real-life average people with no expertise in cryptography, programming, mathematics or IT. And this is precisely what this event can do for Litecoin.
Just imagine that now the Litecoin foundation can use its brand new bank to issue Litecoin-based credit and debit cards. That would allow all kinds of people from all over the world to rely on Litecoin for their daily financial needs. Without having internet service, without owning a digital wallet at all.
Can you imagine using Litecoin to buy your cigarettes, to pay for your groceries in any place in the world that takes Visa or Mastercard? Well, you can start now, it’s much closer than everybody thought.
If that kind of common financial technology becomes available through Litecoin, that will mean a huge boost in demand and new users who maybe won’t have the faintest idea they’re on a blockchain. And that will translate into market performance for Litecoin.
The Robinhood App adds Litecoin support.
The Robinhood App is a mobile phone application with an emphasis on ease of use and lack of transaction fees for cryptocurrency trading. It’s currently available in seventeen states in the US (with more to come). In this magical Litecoin week, the app announced it would include Litecoin among the coins available to its users. They also listed Bitcoin Cash.
— Charlie Lee [LTC⚡] (@SatoshiLite) July 12, 2018
The #PayWithLitecoin campaign keeps advancing, only now it looks real
Litecoin has been encouraging its users to use Litecoin in the real world. The campaign includes a Twitter hashtag. While nothing so revolutionary has happened with that, the fact is that it keeps moving forward and it seems to be working. This more moderate good news is still good news as using a coin begets demand and demand prompts performance.
So now you know. Litecoin has been doing great while we were all just looking the other way. Maybe we should not make that mistake again, especially when they reach the USD 100 mark.
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
XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
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.
NFTs are already being actively traded in markets globally. For…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
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…
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 been…