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LiteCoin (LTC): All Ups and Downs

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Litecoin (LTC)

Over 1400 cryptocurrencies launched mostly around 2013 and 2014 when Bitcoin showed first signs of having crypto values categorized as potentially amazing investments. LiteCoin is keeping up with the big guys keeping the 6th place on the global coin ranking list, showing promising results in price, value and market demand for a long time already.

But, although LiteCoin is on the team with the big coins that are valued for hundreds and even thousands of dollars per one coin, this digital currency is still struggling to keep up. If anything, Bitcoin and massive decreases shoulder to shoulder with fascinating increases is a living proof that none of the coins, big or small, are immune to the changes on the market that often results in having cryptocurrency prices decreased.

Where is LiteCoin now after all ups and downs and is it possible to predict where this coin will be at when it comes to its price by the end of 2018?

Ups and Downs

The highest price LiteCoin has ever had was a result of the early December increase when hundreds of coins were also getting massive increases that sometimes even went up to over 600% of the increased price per one coin. The price per one LiteCoin token was around 325$ by the end of the first week of December 2017, but its price suffered a decrease later on by the end of the same month, leading to a total price of 267$ per one coin.

This was a significant decrease and a pretty cynical surprise for LiteCoin holders and investors. To make things even worse for the state of the price, the value of this digital coin went down at the beginning of 2018 and it wasn’t until the recent change in the market a couple of days ago when LiteCoin experienced a benevolent change in price, leading this coin’s value to 249$ after almost 7% of increase.

As you can conclude by the listed changes, the current price given after the last increase is still lower than the price LiteCoin had during its first significant decrease at the end of 2017.

What you can also conclude based on the price report is that LiteCoin might be having some problems. Why is LiteCoin showing strain and can the problem be traced?

Changes and Strains

LiteCoin with all the changes in price and value seem like it’s having some troubles as one moment this coin is on the top of the mountain while in the other it is suffering significant decrease showing signs of instability. This means that there is some issue that makes LiteCoin’s price going up and down rapidly and without warning.

Even in the beginning of the first week of 2018, LiteCoin holders and investors regained their faith when this digital coin went to a price of 297$ per one coin which was a real refreshment after the first decrease in December 2017. But later on in the same week, LiteCoin suffered another decrease, leading this coin to 224$ per one coin.

The next week, LiteCoin had another increase that made the price per one coin settle at 263$ per one coin, which further led to yet another decrease no one seems expected, and that is how LiteCoin ended up with the total price of 249$ which is its current price at the end of the second week of January 2018.

The current market cap held by this coin is over 14 billion dollars, but what may seem a bit strange is that around the time this coin was experiencing decreases in price, it was shown that over 2 billion dollars were being traded and exchanged daily. This was the reason this coin had experienced a decrease in price.

We have already mentioned in one of the previous articles that value of a digital coin can easily drop in case there is an increased activity in trading coins. That is how 24h volume reached over 2 billion dollars for LiteCoin, which resulted in having this coin’s value dropping.

Then at the end of the second week of January, LiteCoin broke through the decreases experiencing a rise in price when it was lead to a value of 249$ per one coin. During the rise of the coin’s value, you could easily notice that 24h volume was halved to 1 billion dollars. Even then when the situation seemed to have settled, the regular fee of 0.26$ for trading increased to 0.35$.

Although LiteCoin seems to be going pretty unstable when it comes to prices and less impressive when it comes to performance, when compared to other leading cryptocurrencies, this coin hasn’t had any more decreases than the rest of the coins. Still, Ripple has taken over its place as LiteCoin seem to be buggy and unstable at the current moment.

All investors are advised to be careful when investing in LTC especially when investing large sums and especially when investing and planning long-term investments.

The raised fees are not doing any good for LTC reputation as increasing fees means that you are constraining decentralized community that is of now probably growing smaller  – many other crypto values are offering far cheaper fees for transactions and many are still focused on providing users with a no-fee policy which is a pretty tempting offer.

If LiteCoin developers don’t come up with a solution, many investors might turn their backs on LiteCoin for good.

We will be updating our subscribers as soon as we know more. For the latest on MIOTA, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

Image courtesy of coinmarketcap.com

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.

NFTs are already being actively traded in markets globally. For…

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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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