Litecoin creator Charlie Lee and the Litecoin Foundation have each apologized for failing to conduct due diligence on LTC-based payment processing startup LitePay, which has sparked allegations of conducting an exit scam due to its abrupt closure. Continue reading Charlie Lee, Litecoin Foundation Apologize After LitePay Vanishes
Litecoin has been and continues to be in a stronger technical position relative to the other cryptos. As you can see in the chart below it is above both the long-term downtrend line and the 200-day moving average (brown line). It broke out above the downtrend line in mid-February and has since pulled back, in a relatively controlled low volatility manner, to test the line as support during the most recent pullback, low of $137.12. Support was strong though as it kicked in above the line at the 200-day MA. Note that support was also seen around the 200-day MA at the bottoms in February. This is all bullish price behavior that should lead to higher prices.
A breakout above the one-month downtrend line will trigger a new bullish signal, and the LTC/USD pair could then accelerate its advance. First, watch for a breakout to trigger on a move above $165.50. Strength is then confirmed on an enthusiastic rally above $175.50.
A version of bitcoin’s much-anticipated Lightning Network is finally ready for real users. Announced today, California startup Lightning Labs has officially launched a beta version of its software (LND), making available what investors and project leads say is the first thoroughly tested version of the tech to date. This means that users can now leverage LND to send bitcoin and litecoin to other users, all without settling those transactions on the blockchain. Continue reading Lightning Labs Launches Beta With Twitter CEO Backing
The Litecoin price posted a lonely decline on Tuesday after LitePay’s much-anticipated debit card launch was scrubbed at the last minute and delayed indefinitely. The cryptocurrency markets continued to shake off their weekend slump on Tuesday, and most large-cap cryptocurrencies posted strong returns against the US dollar. But while the cryptocurrency market index rose by seven percent, Litecoin became the lone top 15-cryptocurrency to post a single-day decline. At present, the Litecoin price is $217 on cryptocurrency exchange Bitfinex, which represents a single-day decline of four percent and translates into a $12.1 billion market cap.The largest slice of Litecoin trading volume is concentrated on OKEx, which accounts for more than 31 percent of all LTC volume. Notably, KRW pairs — which often spur on altcoin rallies — currently comprise a relatively small amount of Litecoin trading.
Sunday, Feb. 25: the crypto markets are down almost all across the board, but not by very much. Of the top ten coins listed on CoinMarketCap, no coin is down more than 5 percent in the 24-hour period by press time. Only altcoins Litecoin (LTC) and IOTA out of those top ten coins are in the green. Litecoin is trading for about $208.53, up almost 2.8 percent over a 24-hour period by press time. IOTA is up even more, roughly 5 percent over a 24-hour period, trading for about $1.80 by press time. Bitcoin (BTC) has spent the past day and a half below $10,000, a mark that it had broken through again on Feb. 15. This week saw BTC almost hitting $12,000 before slowly dropping until it hit an intra-weekly low today. BTC is currently trading for around $9,552.92, down a little more than 3 percent over a 24-hour period by press time. Ethereum (ETH) is down 1.21 percent over a 24-hour period by press time, trading for around $827.65.
Total market cap is almost $420 bln by press time, down from the intra-week high of over $500 bln, but higher than the intra-week low thus far of around $417 bln.