Litecoin (LTC) is back on track on the market capitalization rankings with a powerful performance buoyed by the general upsurge in the entire crypto market. LTC ranks 5th again after it were briefly overtaken by EOS. Getting back on track isn’t just an occurrence; it’s everything to the Litecoin Foundation and their push to have the coin adopted as the preferred currency for p2p transactions.
It’s been one crazy first half of 2018 for Litecoin, but April 13, 2018, begins what is likely to be the defining moment for Charlie Lee and his vision. Incidentally, today marks six and a half years since Litecoin was launched and quite fittingly, is Lee’s birthday. So, in as much as it is Friday the 13th, the voodoo is pointing to a turning point for LTC. Recognizing this fact, Lee tweeted:
“Yes, it’s my birthday today. April 13, which happens to be Friday the 13th this year? Turns out, it’s also Litecoin’s 6½ birthday. Coincidentally, I launched Litecoin on my half birthday.”
But the excitement of this day isn’t driven by the birthday coincidence. It is more of what happens today that will in a big way push LTC even higher up the log as it tries to recover value lost during the Q1 dread.
Aliant Partnership provides needed route to adoption
When Litepay ended up being dead rubber a few weeks ago, going on to negatively impact the LTC community, many envisioned chaos for Litecoin. That didn’t happen as, even though LTC/USD tanked heavily, it critically stayed above the $100 mark, providing a pivot for a quick reverse. And it seems to have happened as the coin traded this morning at $132, +8.15% against the US dollar.
By the time the deal to partner Aliant Payment Services came to public notice, LTC had plunged from $180 to hover precariously above the $100 price level. Sentiment changed with the announcement and the coin has slightly recovered to today’s mark. The Aliant service will help merchants accept LTC payments, giving users an option to spend their coins easily.
When the deal came out, Litecoin Foundation had this to say:
TenX and LTCpay to add momentum
The Aliant deal has been followed by announcements about TenX and LTCpay. These are not new ventures, but the timing of their release or updates makes good tidings for the fervent community that believes the coin is second only to BTC.
It has also been revealed that Litecoin is working with the TenX team to develop a debit card for use with LTC. The wallet added LTC to its iOS and Android apps, further widening the accessibility and use of the coin.
In a blog post, TenX said this about the partnership:
Regarding LTCpay.com, users can now utilize the site free of charge to accept LTC payments into their own wallets. This adds more convenience, given that the site also supports several API functionalities. It is one more reason for excitement to the community. Building such confidence in the platform will only help cement the coin’s reputation and aid further growth.
Smart contracts are on Litecoin
The green march may just have begun for many of the cryptocurrencies on the market. But it appears that Litecoin is poised to put behind it the challenges of Q1 and roar into Q2.
The 13th marks the official launch of Litecoin Smart Contracts on the network. This actually was referenced a while ago, after the Abra Global app announced it would be using Litecoin for its smart contract solutions.
The Abra CEO explained why they chose LTC: better scalability, compatibility with BTC, and more importantly cheaper mining fees. Charlie Lee went on to confirm it was in the works and that it would be out in about two weeks.
That time is here and the smart contracts are said to be live. This development will have one definite impact for Litecoin: the potential to incredibly increase usability and eventually translate into even wider acceptance. Charlie Lee’s vision of making Litecoin (LTC) the best of the best may still be achievable after all.