DunDidIt2X
Elite Member
- Mar 22, 2012
- 2,863
- 2,432
@blogzandstuff Just read this article: https://www.cryptocoinsnews.com/litecoin-price-leaps-30-to-new-all-time-high/
For those of you wondering about the recent rise of litecoin this is a really good article on the subject.
Key excerpts below:
"Although litecoin has been trending up for some time now, several distinct factors have contributed to its present rally. First, litecoin has benefited disproportionately from Coinbase’s rapidly-swelling userbase. Unlike bitcoin and ethereum — the other two cryptocurrencies that Coinbase currently supports — litecoin has little name recognition outside of the industry. Anecdotally, it appears that many new Coinbase users are purchasing a small amount of litecoin since it is available on the brokerage platform — and so much cheaper than bitcoin and ethereum.
Second, Litecoin creator Charlie Lee has been invited on several prominent new programs to discuss bitcoin futures and other developments within the cryptocurrency industry, and he has used these opportunities to pitch litecoin as a solution for everyday payments that complements bitcoin’s utility as a store of value.
Finally, investors believe that two recent announcements serve as confirmation of Lee’s thesis. First, gaming giant Steam stated that it will no longer accept bitcoin payments, citing rising transaction fees that currently make bitcoin impractical to use for small purchases. Conversely, Bitrefill — a top-up service for prepaid mobile phones — announced that it will accept litecoin, and LTC advocates believe that many other companies will follow suit in the near future."
For those of you wondering about the recent rise of litecoin this is a really good article on the subject.
Key excerpts below:
"Although litecoin has been trending up for some time now, several distinct factors have contributed to its present rally. First, litecoin has benefited disproportionately from Coinbase’s rapidly-swelling userbase. Unlike bitcoin and ethereum — the other two cryptocurrencies that Coinbase currently supports — litecoin has little name recognition outside of the industry. Anecdotally, it appears that many new Coinbase users are purchasing a small amount of litecoin since it is available on the brokerage platform — and so much cheaper than bitcoin and ethereum.
Second, Litecoin creator Charlie Lee has been invited on several prominent new programs to discuss bitcoin futures and other developments within the cryptocurrency industry, and he has used these opportunities to pitch litecoin as a solution for everyday payments that complements bitcoin’s utility as a store of value.
Finally, investors believe that two recent announcements serve as confirmation of Lee’s thesis. First, gaming giant Steam stated that it will no longer accept bitcoin payments, citing rising transaction fees that currently make bitcoin impractical to use for small purchases. Conversely, Bitrefill — a top-up service for prepaid mobile phones — announced that it will accept litecoin, and LTC advocates believe that many other companies will follow suit in the near future."
