Litecoin has been climbing all week. The last 24 hours in particular has seen its price increase almost 40%. At the time of this posting it's hovering around $240.
Credit: bleepingcomputer.com
It's nice to see my favorite altcoin having some positive momentum after falling from its high in December of $375 to a paltry $105 just a couple weeks ago.
So why the sudden increase?
It's been announced that LTC is going to go thru a hardfork on February 18th. For every Litecoin you own you'll recieve 10 LCC or "Litecoin Cash."
Like any split noone knows if the new coins will have any value but a 10-1 bonus is pretty cool in my opinion 😎
The new coin is supposed to be quicker and have even smaller transaction fees than LTC's already quick and cheap transactions now.
Charlie Lee has said that any new coins created are just a scam and that there's only one Litecoin, but many say the creator of LTC is just salty and shouldn't be taken serious because he's already sold all of his holdings awhile back.
It will definitely be interesting to see how the new LCC will fair after the fork and it's nice seeing even more people talking about LTC.
Are you holding or buying more Litecoin now because of the upcoming hardfork? Let me know in the comments..
Thanks for reading,
Cryptonoob
Stacker
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