Litecoin was below USD 50 for quiet some time as all major cryptos were facing a price slump. But a series of positive news flow has finally taken the coin’s price has finally taken the coin above USD 50 dollars.
Addition to a new market, new exchange, and Facebook has finally lit up Litecoin
Over the last 24 hours, the value of Litecoin has risen over 1% and now trades at $51.06. Litecoin holds its position as the seventh most valuable digital asset with a market capitalization of $3.01 billion. This was on the back of a few positive news that hit the street one after another
Lite I.M, the Litecoin wallet, added the popular social media platform to its support list which means Litecoin holders can now manage their holdings directly on Facebook via Lite I.M. Users can now send, buy and manage their LTC either importing an existing Facebook account to Lite I.M or doing so directly on Facebook. With this, individuals can now send LTC directly to friends on Facebook without needing to know their Litecoin address. The wallet, previously supported Telegram and SMS, with plans to support and connect more social media platforms in the future. Michael Rodriguez, the C.T.O od Lite I.M is quoted saying:
“it’s pretty huge as the first crypto on facebook is litecoin, and this opens the door to a user base of around 2 million people all over the world. it’s also the beginning for us as we have big plans in store.”
In other news, Litecoin was added to CMC markets wallet and itBit exchange.
Just hours after the Lite I.M announcement, CMC Markets, a trading firm based in the United Kingdom announced the addition of three cryptocurrencies; Bitcoin Cash, Litecoin, and Ripple to its platform. CMC Markets offers almost every kind of financial instrument known to man, including spread bets. The platform boasts the support of over 300 currencies globally, including Bitcoin, Ethereum, gold, silver, bonds, shares, and treasury. While CMC Markets may not be a home for cryptocurrencies, Litecoin is bound to benefit from the being supported by a traditional financial company with this level of vastness.
To add to the already impressive list of announcements, itBit, a U.S based cryptocurrency exchange regulated by NYDFS has received approval from the regulatory agency to list Litecoin (LTC).
Last month NYDFS handed approval to Coinbase and Gemini to list Litecoin. A listing on itBit will help continue the recovery of Litecoin and is expected to improve the value of Litecoin in the coming days.
It has been impressive for Litecoin as it has accumulated a slew of listings. While Litecoin finds itself on every exchange, now one has to wait for adoption to pick up and we may soon see Litecoin challenge the reigns of Bitcoin.
When do you think Litecoin will touch USD 100? Do let us know your views on the same?