Litecoin has had a strong week following the US tax deadline on Tuesday. Prices continue to rise for the altcoin, increasing by 3.73 percent in the last hour. As of 6.30pm today, Litecoin was trading at $142.19. The cryptocurrency continues to make positive steps forward, as the rest of the market forges forward. Bitcoin is currently trading at $8,234, Ether at $544, Ripple with $0.728, and Bitcoin Cash at $940.
The market has risen steadily over the last 7-day period and looks set to continue. LTC has been quietly improving on the rest of the cryptocurrency market in a steady, bullish climb The altcoin is renowned for its agile transaction process, vastly outpacing bitcoin and Ethereum. Fast-moving start-ups have taken to Litecoin since May 2017, when it served as the host platform that allowed completion of the initial Lightning Network transaction, with 00000001 LTC going from Zürich to San Francisco in less than one second.
As with most markets, all ships rise with the tide, and Litecoin has been benefitting from the market-wide gains seen this week across all cryptocurrencies. Tuesday, the US tax deadline, was initially expected to be a tough week for the market, as American traders looked to make a quick buck to pay capital gains tax. A large sell-off was expected, driving down the price, but, for the most part, the market has emerged relatively unscathed. Prices across the board continue to increase as new investors look to enter the market. Litecoin is a popular currency on the Dark Web, a part of the internet that blocks IP location and allows for truly anonymous browsing and access to deeper parts of the internet. Since bitcoin has slowly parted ways with the often nefarious Deep Web, Litecoin has taken its place, with 30 percent of all transactions on the Dark Web being through LTC.
Although some of the activities associated with the Dark web aren’t entirely ethical or even legal, the fact that Litecoin is a preferred option there speaks positive things about it. People started having problems with the inflated prices of the network, a consequence of Bitcoin’s high commission fees and started looking at Litecoin.
According to Forbes, there are at least five reasons for optimism when it comes to projecting Litecoin’s 2018 outlook. The first one is that Bitcoin’s growths and futures trading, which spiked its prices. Read more from express.co.uk…
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