Breaking the week’s bearish start, most of the crypto-kingdom recovered well on the back of Litecoin’s [LTC] surge. The coin recorded a positive change of 10.53% over 24 hours, followed by Ethereum [ETH] and Cardano [ADA] with hikes of 4.55% and 3.96%, respectively.
Today’s bull performance marks the third instance of Litecoin’s [LTC] increasing relevance in the crypto-market. Previously, LTC had witnessed a massive 40% spike in April, which was followed by 31.64% spike in May. As a result of the impressive performance, LTC has stolen Bitcoin Cash’s [BCH] 4th position on CoinMarketCap with a market cap of $7.9 billion.
While no definite reason can be attributed to Litecoin’s consistent success, one of the major reason behind the growth is BTC’s steady market. Additionally, several industry speculators are considering the crypto’s past performance to believe that LTC is poised to breach the $150 mark soon.
The cryptocurrency was being traded highest on Coinbase. While Litecoin creator, Charlie Lee, has not shared any business expansion plans like other competing coin leaders, LTC seems to be taking a short-term approach towards slower adoption and faster value creation.
Further, LTC’s growth in terms of trading value can also be linked to the decrease in the number of whale trades over the past three months. Further, it is important to note that LTC witnessed a tremendous price hike after the 2015 halving, which led speculators to expect a similar price action in 2019-2020.
As we continue to draw closer to the highly anticipated BTC halving, LTC’s expected volatility may result in one of its strongest value recoveries.
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Justin Sun on shaking down the Internet, Coin Metrics on Kin’s blockchain activity and more
Crypto News – 26 June – Justin Sun on shaking down the Internet, Coin Metrics on Kin’s blockchain activity and more
— AMBCrypto (@CryptoAmb) June 26, 2019
Crypto News – 26 June
Bitcoin breaches new resistances: In a sensational run that saw the coin surge by 15% over 24 hours, the world’s largest cryptocurrency breached the $12,000 mark, while also briefly touching the $13,000 mark, before falling again
Read more at https://bit.ly/2ZMkS10
Tone Vays on Bitcoin’s biggest strength: Tone Vays opined that Bitcoin’s biggest strength was the fact that it was completely “unconfiscatable” and that one’s BTC is completely safe if it is protected and secured with attention
Read more at https://bit.ly/2RD2BjL
Tron Foundation launches new inititative: Justin Sun’s Tron Foundation announced a $20 million TRX buy-back plan to promote community activity and market stability
Read more at https://bit.ly/2X8aA9W
Joe Kernen on Bitcoin, Libra: The once crypto-skeptic, CNBC Squawk Box’s Joe Kernen is of the opinion that Libra is for corporations, while Bitcoin is for the people
Read more at https://bit.ly/31MkqSa
Bloomberg on JPM Coin: According to a report by Bloomberg, the Jaime Dimon-led institution plans to launch the JPM coin and use it for bond transactions
Read more at https://bit.ly/2X75DTr
Fundstrat report on stablecoins: According to a recent report by New York-based Fundstrat Global Advisors, the FS CryptoFX Stablecoin index fell by a whopping 21 percent against BTC, with Gemini outperforming Tether [USDT]
Read more at https://bit.ly/2X5qPJw
BitGo’s latest collaboration: Bitcoin IRA has announced that it will be teaming up with BitGo to launch crypto-retirement accounts insured for $100 million
Read more at https://bit.ly/31UvjBz
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