Litecoin is the quiet achiever, and while all the new coins on the block have been announcing themselves as the latest and greatest. Litecoin has been quietly going about its business. With all the money flowing into crypto recently I'd been surprised that Litecoin sailed under the radar for so long, with crazy money flowing into alternatives like Dash, Monero or even Ethereum Classic. So these are the reasons I think what has happened today should have been expected and is not a pump, but is a sign of things to come.
Coinbase added Litecoin this week.
This is possibly the biggest factor in the large Litecoin movement we've seen today. The Coinbase approval allows another layer of trust to be developed for the coin and a whole bunch of new money to be traded into it. You can read more about the news here:
http://www.investopedia.com/news/sec-clears-coinbase-trade-ether-litecoin/
SEGWIT is likely to be on Litecoin before Bitcoin
While Bitcoin has turned cannibal and seems intent on infighting, Litecoin made the clever move to start signalling for SEGWIT adoption. If Segwit hits 75% it will be adopted. You will notice it currently sitting at 21%, so its a way off, but its still a whole lot closer than Bitcoin and has taken positive steps. There is every likelihood that Litecoin will see SEGWIT activated before Bitcoin.
Chinese Love it
The Developer Charlie Lee has been with the coin since it began and is a knowledgable and respected member of the crypto-space, although maybe not as vocal as some, he appears to have brought a cool head and his long game. Add, to that his brother owns one of the biggest exchanges in China and it will come as no surprise that this coin has a lot of interest from a country also struggling with Bitcoin adoption. Does Litecoin give them a safe and secure option? I think it does.
It's Available for Trading on More Than 50 Exchanges Worldwide
You'd be surprised how many of the coins in the top 50 in www.coinmarketcap.com are only available to trade on 2 or 3 exchanges nad only with BTC pairing. Litecoin has over 222 trading pairs on more than 50 exchanges Worldwide. I'm in Thailand we have 1 exchange which offers, Bitcoin, Ethereum, Zcash and you guessed it Litecoin...Don't underestimate its market reach.
Litecoin is Fast and Stable
Litecoin by its design is 4 times faster than Bitcoin. This has seen it be readilly adopted for markets likes sports betting where quick confirmations are important. The blockchain is stable and secure and is only 2nd to Bitcoin in hashpower.
Previous ATH of $45
Seriously, when you see a coin that had previously risen to $45 and its now $4 you need to ask yourself why? I mean surely this represents exceptional value in a trusted and proven blockchain.
Anyway, I'm no expert, just a keen observer who remembers when Litecoin began. Would love to hear your comments on this and if anybody thinks I'm wrong, please correct me... Peace :)
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