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Litecoin [LTC]’s new logo met with mixed response by the Litecoin community

Jibin M George

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Litecoin [LTC]'s new logo met with mixed response by the Litecoin community
Source: Pixabay

Recently, the Litecoin Foundation moved to adopt a new, light blue logo for Litecoin in a step that it hoped, would herald a reversal of fortunes for a struggling cryptocurrency. However, after an overwhelmingly positive reception that welcomed it, the reaction to the new logo has stalled and some have begun to voice their disapproval of the same.

The new logo, designed by an Australia-based designing firm, was meant to symbolize Litecoin’s brand evolution and modernization, with an emphasis on trust and speed. However, some in the community have already started voicing their displeasure about the new logo.

@oasacethis, a Twitter user said:

Source: Twitter

Another Twitter user @TheOGbull said:

“The silver logo is iconic and should not be played with, to avoid confusion. Bitcoin’s orange logo is rarely tinkered with. It should be the same when it comes to litecoin.”

There have also been others who have criticized any move to re-brand Litecoin as futile as they feel that the move doesn’t address the real challenges faced by Litecoin in the cryptocurrency market.



However, there have been many positive responses too, with users commending the efforts of the Litecoin foundation and welcoming the move as necessary to the forward track of the cryptocurrency. Many users have also justified the logo change and have argued passionately about the merits of the new logo.

Many have correctly pointed out that each of the changes, whether it is the italicized font or the change in color, works in favor of a brand looking for new fortunes. The former for instance is representative of speed while the latter is a color adopted by the biggest brands in the world such as Facebook, Twitter and LinkedIn and denotes a sense of trust and security and gives an instant sense of recognition.

 





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Bitcoin

Bitcoin prices hit $150 billion market cap for the first time in 2019 as prices pump by 11%

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Bitcoin prices hits $150 billion market cap for the first time in 2019 as prices pump by 11%
Source: Unsplash

Bitcoin’s parabolic rise that started in April seems to be staggering as the increase in price vs. the number of days it took to increase was surprising, considering the prolonged bear market.

The recent pump on May 27 at 23:30 UTC [+5:30] pumped the price from $7.995 to $8,939 in 7 hours with each green candle forming one after another. However, the price reached a peak at 05:30 UTC [+5:30]. After which the price declined by 2.85%.

Source: TradingView

Moreover, at press time, the market cap of Bitcoin has reached a new high, i.e., $154 billion and the price reaching $8,900 is a new all-time high of Bitcoin in 2019. Bitcoin’s total rise YTD was 146% and in a 24-hour time frame, the price of Bitcoin was up by 8.71%.



Meanwhile, altcoins have also followed suit as Ethereum pumped by 7.21%, XRP by 7%, Bitcoin Cash by 9.53%, Litecoin pumped the most in top 10 as it was up by 11.23% in 24-hours. Tron, the eleventh largest cryptocurrency pumped by 13.84%, at press time.

Anthony Pompliano, a well-known Bitcoin enthusiast tweeted:

“Someone check on @nouriel. Bitcoin seems to be coming back with a vengeance ever since he blocked most of Bitcoin Twitter.”





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