Litecoin is seeing a surge in prices with its latest partnership with the wallet platform TenX and getting listed on the largest South Korean cryptocurrency exchange Korbit. After last month’s LitePay failure, these news certainly works in LTC’s favour as it rides at $145.
After LitePay debacle, Litecoin joins hands with TenX
It has been a good day for the crypto market with Bitcoin prices rising to the $9,000 at one time and a surge in the prices of Altcoins as well. Litecoin also experienced a hike in its prices. In the first week of April, LTC was at $113 level which rose over to the $155 mark today. Though later in the evening, the market did experience a small dip in prices as well, things seem to be positive and helpful in the crypto market right now.
Litecoin holds a special mention as just last month, the digital currency has to go through the untimely collapse of LitePay that was going to be its payment processor.
However, the company is now well on to its recovery period as a few days ago the cryptocurrency scored a deal with a well-known wallet platform, TenX. In Spite of the abrupt shutdown of LitePay payment processor, TenX announced the Litecoin support on its wallet platform.
This partnership certainly came at a good time for Litecoin which supports LTC on both iOS and Android. TenX shared the news with:
“We are also excited to announce a new partnership; we have reached out to, and are working with the Litecoin Foundation to introduce a co-branded card for which more information will be available soon. We hope to become the preferred payment platform for fans and owners of Litecoin, and cannot wait to see you use our wallet and join the revolution!”
Moreover, both the teams are basically working on introducing a co-branded card service that LitePay failed to provide the Litecoin users.
Now available on korbit, LTC is riding at $145
Another big news came in the form of Korbit listing. The first and one of the largest South Korean cryptocurrency exchange, Korbit is in the top 30 list as per the trading volume on coinmarketcap. Korbit has already commenced Litecoin trading on its platform.
The exchange is known for its low fees that are 0 percent for its investors and 0.2 percent for the revenue producers. The deep liquidity of this exchange ensures a stable and unbiased market rate for the users.
The support of Litecoin on Korbit came at a time when there has already been an uptrend going into the market which further drives LTC price. Apparently, Charlie Lee was trying for years to get the exchange to support Litecoin that only came to fruition just now.
Since its inception in 2011, Litecoin has been competing with bitcoin, ethereum, and other altcoins and have now reached the sixth position on coinmarketcap. In comparison to bitcoin that takes about 10 minutes to process the blocks, Litecoin is well known for its swift transaction time that takes about 2.5 minutes per block.
Reportedly, a third party i.e. Wirex, which is a cryptocurrency wallet provider might also join Litecoin and TenX in their partnership. Right now, LTC is riding at $145 which is expected to rise even further.
Do you think LTC would rise to the $200 soon?
I am an associate content producer for the news section of Coingape. I have previously worked as a freelancer for numerous sites and have covered a dynamic range of topics from sports, finance to economics and politics.