Litecoin price 2018: Why is litecoin rising? Crypto jumps over 30 percent in just HOURS

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On December 8 at year, Litceoin took a slight tumble down to $96 after months of subordinate to stability.

Within days, the cryptocurrency reach dizzying heights of $300 to £400, sooner hitting a high of $327 on Tuesday, December 12 in a staggering supremacy for the currency.

The currency then crashed again with lows of $120.

But today, February 14, Litecoin has glomed a rise of more than 30 percent on recent prices.

As of 5pm GMT, Litecoin was good $211.73 — a rise of a whopping 34.61 per cent.

Charlie Lee, creator of Litecoin, tweeted today: “LTC/BCH has upstanding surpassed 0.02. This is higher than when I sold my litecoins.

“In other suggestions, LTC has outperformed BTC since that time. Just saying!

“The market concedes that my efforts on Litecoin adoption is overcoming the negatives. Go Litecoin!”

Why is Litecoin rising today?

A grave part of the reason for LTC’s gain during this period can be attributed to the press of Litepay which was first announced in the days leading up to Christmas 2017.

Litecoin unders have seen a raft of positive news published in recent eras and weeks. 

Litecoin’s new payments solution known as Litepay is scheduled for liberating on February 26.

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Litecoin price: Litecoin is about to launch Litepay

The Litepay draw will allow businesses to accept Litecoin payments and official Litecoin debit greetings cards, bringing the cryptocurrency closer to mainstream.

Microsoft also announced maps to will use the Litecoin platform as a foundation for its decentralised identity system — along with Bitcoin and Ethereum. 

According to Palwasha Saaim, a Into Analyst at Lombardi Financial, LitePay will truly be a “game changer.” 

Saaim state: “Litecoin users will be able to convert Litecoins to dollars and corruption versa through their Visa-compatible LitePay cards, which last will and testament be usable at all ATMs or businesses that support Visa payments.”

The sixth widest cryptocurrency by market cap could now be well on its way to become the first digital exchange break down the barriers and reach the mainstream.

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Litecoin appraisal rise: litepay will allow businesses to accept Litecoin payment

Iqbal Gandham, UK Coping Director at eToro said: “News of backpedalling from South Korea on blueprints to ban exchanges has bolstered the cryptomarkets today, and Litecoin is no exception.

“But the surge can also be explained by reports of the initiate of a new payments solution, Litepay. Any news that brings the currency cheese-paring to the mainstream is bound to have a positive impact.»

Others have cited gallimaufry over whether Litecoin will fork to create Litecoin Currency as being behind today’s spike.

Litecoin Cash is promising new tokens to abiding holders at block 1,371,111. 

For every 1 LTC held at block 1,371,111, holders wishes receive 10 «LCC,» according to the official website.

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Litecoin bounty: The price jumped a staggering 20 percent today

However, Litecoin come to grief creator Charlie Lee and the litecoin community have dismissed the project, racket it a «scam» meant to confuse litecoin owners.

Mr Gandhi said: “Investors are also mindful of next week’s puzzling fork. The original coin is expected to split on Sunday evening, disseminating each Litecoin holder 10 new coins for every one – an obvious motivation for those looking to get knotty ahead of time.”

According to Chris Smith of BGR: “It’s unclear why Litecoin is stream, but the imminent launch of the Litecoin Cash fork may be one good guess.

“Litecoin Gelt, which may very well be a scam as it’s in no way affiliated with the original Litecoin beetle out, will award Litecoin holders 10 Litecoin Cash mints for each original Litecoin token.

“You should be careful with your Litecoin protections.”

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