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Litecoin [LTC]’s ecosystem sees aggressive adoption; scams continue to defame the coin

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Litecoin [LTC]'s ecosystem sees aggressive adoption; scams continue to defame the coin
Source: Pixabay

Litecoin has been facing a lot of aggressive adoption in recent days with the help of Charlie Lee and other members of the Litecoin community. Litecoin is being accepted as a form of payment at various places in the US. Restaurants in New Jersey and a few stores are accepting Litecoin and online payments for purchasing services or products.

Charlie Lee in an interview gave his insights for creating Litecoin. He said:

“I see Litecoin complimenting Bitcoin in being good sound money. One being digital gold and another being digital silver. So Litecoin is cheaper to spend and faster than Bitcoin. And with Bitcoin, there’s nobody to dictate, while with Litecoin I am present, which is good and bad.”

Surf Air Express announced that Litecoin and Bitcoin will both be accepted as a form of payment for air travels. The news of the announcement was also tweeted on their official Twitter.



Source: Twitter

Besides the adoptions, Litecoin network saw a huge transaction worth $62 million that took place recently which transferred a total of ~1.2 million LTC to a new MultiSig SegWit wallet. The address that received LTC is currently the richest address on the Litecoin network. The transfer of 1.2 million LTC cost a mere $0.50 which otherwise would have taken hefty fees if done through traditional banking systems.

Despite Charlie Lee’s efforts and speeches for the adoption of cryptocurrency, there have been people who are trying to get their hands on cryptocurrencies illegally. An Arizona-based man was recently fined a total of $1.146 million in restitution by the CFTC [Commodity Futures Trading Commission].





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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.

Altcoins

WAVES/BTC sees dramatic drop to reach 1 Satoshi on Binance exchange due to a massive sell order

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WAVES/BTC hits a dramatic drop to reach 1 Satoshi on Binance exchange due to a massive sell order
Source: Pixabay

Waves, the 29th largest cryptocurrency, hit lows against BTC on April 17, and users speculated that this could have been due to a massive sell order.

Waves, at press time, was trading a $2.71 with a market cap of $270 million and had a trading volume of $15 million. However, on April 17, the price of Waves hit rock bottom due to a massive sell-off similar to one that Ethereum witnessed a few years back.

Source: TradingView

As seen in the above chart, the price of Waves against BTC hit exactly 0.0000001 BTC, which amounts to 1 Satoshi. The volume for the said candle is also massive, further confirming a sell order of massive amounts. The coin has since increased by approximately 3% against Bitcoin in under 24 hours.

Crypto enthusiasts on Twitter couldn’t hold back their opinions as one user, @BitBitCrypto tweeted



“- $WAVES did not trade at 1sat, it traded at 10sat
– It is still a great project and with a huge potential
– This sell order has nothing to do with WAVES (the project)
– This trade wasn’t done on Binance web cause you can’t place this low, it was API
– I didn’t buy it at 10 sat”

Another user @BITCVIX tweeted:

TradingView commented on this matter saying:

“Something strange is always happening in the #crypto market”





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