The founder of the Digital LiteCoin sold all his holdings of the digital currency, citing problems of interest. In an interview with Reddit this morning, developer Charlie Lee wrote that he no longer wanted to defend his claims and comments about the price of the LiteCoin, and saw selling as the best way to ensure transparency in his actions. While he said that he had refrained from buying and selling the LiteCoin, his actions could be seen as intended to enhance his personal wealth over the success of the Lite Coin and the digital currency in general. As a result, Lee said he had sold and donated all his Litecoin in recent days. He added that the amount of Litecoin he sold was a "small percentage" of the global volume of the digital currency.
On the other hand, the Litecoin was the seventh largest currency in terms of market valuation, with the Bitcoin split in 2011, often referred to earlier as silver for Bitcoin. Where its creator envisioned a Google employee at that time, that would provide traders with faster transactions several times. Lately, Litecoin has seen a price hike after Lee proposed an ambitious technical roadmap, including the proposed "Segregated" scaling solution. Currently, the digital currency is trading around $ 334, having reached a new all-time high of $ 375.29 yesterday. While its market value currently stands at more than $ 28 billion, according to data from OnChainFX.