Claim BonusWhales Eye Litecoin Ahead Of Major Update, Here’s Why
Ahead of the all-important the MimbleWimble (MWEB) update, the whales appear to be steadily eyeing Litecoin. The upgrade will allow transactions with the new MWEB privacy features.
MimbleWimble Protocol Features
The MWEB protocol allows for addition of confidential transactions on the Litecoin blockchain. Besides, the protocol reduces unwanted data on transactions from the blocks.
Charlie Lee, the creator of Litecoin, announced in a tweet that MWEB would be activated on Thursday.
“MWEB is currently estimated to activate on 5/19. We are thinking of doing a livestream event to celebrate activation. Stay tuned for more details soon.”
David Burkett, the Litecoin update’s lead developer, said to the node operators,
“Anyone interested in using the MWEB, and especially those who installed one of the earlier release candidates, should upgrade to the official v0.21.2 before MWEB activates. If you wait until after MWEB activation to upgrade, you’ll unfortunately be required to resync the blockchain from scratch.”
Litecoin Price Jump?
In what could be a clear signal of bullish sentiment among investors for Litecoin, there has been significant purchase activity lately. Litecoin is among the top 10 purchased tokens among 100 biggest whales in the last 24 hours. The data was provided by WhaleStats, a platform that analyses the top 10 ETH wallets.
Clealry, the new update is something the big investors are looking forward to. This could mean a positive outlook for the 18th ranked cryptocurrency.
Following a widespread cryptocurrency price decline last week, the altcoin hit a recent low of $55. As of writing, the token was trading at $73, a nearly 10% jump in 24 hours, according to CoinGecko. Thanks to a bull run last year, the altcoin hit an all-time high of $410. Its current market cap is $5.15 billion.
The activation of MWEB upgrade comes amid much hype after around two years following the commencement in 2020. Traders are anticipating a boost to Litecoin’s prospects due to MWEB, in the lines of surpassing the $100 mark.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Breaking: Supreme Court Delays Ruling on Trump Tariffs; May Decide January 16
- Senators Make Amendments To CLARITY Act On Yield and DeFi Ahead Of Crypto Bill’s Markup
- Breaking: U.S. November PPI Inflation Rises To 3%, Bitcoin Climbs Above $95k
- Universal Exchange Bitget Taps Football Culture to Promote a One-Stop Crypto Trading Experience
- Aster DEX Review – Is It Safe and Legitimate?
- Ethereum Price Prediction as Network Activity Hits ATH Ahead of CLARITY Markup
- Robinhood Stock Price Prediction: How High Could HOOD Go Technically in 2026?
- Cardano Price Prediction as Germany’s DZ Bank Gets MiCAR Approval for Cardano Trading
- Meme Coins Price Prediction: What’s Next for Pepe Coin, Dogecoin, and Shiba Inu Amid Market Rally?
- Standard Chartered Predicts Ethereum Price could reach $40,000 by 2030
- Bitcoin Price Eyes $100k as Core US Inflation Slips Ahead of CLARITY Act Markup
