Confidentiality is one of the most sought after feature in any financial transaction. The growth of privacy coins seeks to tap into the dark world untapped markets to bring them onboard the blockchain technology. Litecoin (LTC) is one of the latest privacy coins at the moment and is poised to take over the lucrative market where traders seek total privacy in their transactions.
While other established digital coins are going for traditional markets, Litecoin is exploring where mainstream financial institutions cannot dare to tread. With the recent crypto-slump, LTC has been making steady progress to pull out of the bullish state.
Recent Litecoin (LTC) Developments for future Growth
Recent developments on the Litecoin (LTC) ecosystem are starting to bear fruits and critics are steadily adopting the cryptocurrency. These bold steps will catapult the Altcoin and maintain the steady growth. Ranked 5th in terms of market capitalization, the coins became noticeable in July 2017 and has grown to challenge the like of Ripple, Ethereum and Bitcoin.
The implementation of Segregated Witness (SegWit) has given Litecoin a competitive edge over other privacy alternative coins. The only other platform to implement SegWit technology is Bitcoin. This feature makes Litecoin more light in terms of transactions and compatible with similar platforms. The modern consumer is taking advantage of the feature that will see an increase in adoption and price traction.
The implementation of Lighting Network is another critical development for long-term sustainability of the Litecoin ecosystem. This is a measure to enhance scalability and enhanced transaction speeds. Given the congestion being experienced by Bitcoin, more users are eager to bet on LTC.
The Lightning Network ensures Litecoin provides instant transactions at a drastically reduced fee. This is a decentralized payment system and will improve on where fiat currency remittance service providers fail the consumer; you are able to exchange traditional with digital currencies seamlessly.
The Forward looking Litecoin Investment Fund
The recent launch of the Litecoin Foundation in conjunction with Grayscale Investments is a move towards the right direction. The goal of the fund is to keep aside 2,400 LTC for investment purposes; a tool for LTC storage, buying and safekeeping. This is a clear indication that the fund is anticipated to grow and increase the funds’ value thus giving investors and adorers more confidence to come onboard.
The recent surge of LTC price is a clear signal that the coin has the potential and more investors are ready to stake their funds on the platform. LTC hit its high of $366.15 on the 19th, December and dropped to $298.15 in January 9th. Though not spared by the crypto-crash, it has been struggling to break even ever since.
Litecoin (LTC) Market Projection and Performance
All has not been rosy for the privacy coin Litecoin, if the current trends are anything to go by, many enthusiasts are seeing as a good sign for investment. The coin shed 4.56% to trade at $180.14. Once the system upgrades are complete, price resistance at $200 to $250 will become viable. The current bearish price trend can go either way given the current uncertainty in the market.
With many governments seeking for ways to regulate cryptocurrencies, Litecoin (LTC) price might be affected. There are many factors including price volatility and social media exposure which might affect the speed at which the privacy coin goes by end of 2018.