Litecoin has gone up a massive 32% today (at the time of writing this post) and there are a couple of reasons why this may be happening.
1st reason is Litecoin is expected to release Litepay later this month with Litecoins founder Charlie Lee giving the date of 26th February.
Litecoin announced LitePay just prior to Christmas with it's main purpose to allow businesses to accept payment in Litecoin from anywhere on the planet.
It is expected to have a flat transaction fee of only 1% and will allow customers to pay for products and services in USD (not not Tether, the actual real dollar)
Alongside this a Litecoin wallet shall also be introduced for all major mobile and desktop browsers where instant withdrawals from VISA compatible ATMs and spend with any VISA merchant will be possible.
If you visit the Litepay website you can see the following explanation - “Use LitePay’s retail, e-commerce, billing, and donation tools to accept payments from customers anywhere on earth. Receive settlement from Litecoin payments directly to your bank account in your own currency, with zero price volatility or risk.”
This is followed up by a tweet on the LitePay twitters account stating - “LitePal is a Litecoin-first payment processor. We envision a cryptocurrency world where Litecoin is utilised by merchants from all over the world; one streamlined, simple, less confusing process. Thank you @SatoshiLite for creating the LTC we all love.”
So with all this just round the corner for the well known Litecoin it could be that now the news is hitting the headlines investors are flocking to buy the coin ahead of the release although there is another "hype" circlingh the net regarding the coin at present.
Many people are stating on social media sites that there is a "fork" happening for Litecoin - "Litecoin cash". It claims that it will hand out an impressive 10 coins for every one litecoin owned. That sounds great but Founder of LiteCoin Charlie Lee has hit out on Twitter warning of a potential scam.
So to round it up, I strongly believe that after a hard few months LTC is slowly rebuilding and excitement around Litepay is fueling investors want for the coin but there could also be the factor of the "fork" which could also be pushing prices.