Chinese Endorsement Cast a Holy Grail Spell on the Altcoins

By Steven Anderson October 26, 2019 0
Chinese Endorsement altcoins

The cryptocurrency market turns green, and the advantage is also on the Litecoin, which goes up by 13%.  It was a double-digit rise for the Litecoin over the past 24 hours.

The price of the Litecoin spiked suddenly.  This is considered to be in response to the endorsement of the blockchain technology by Xi Jinping at the Politburo Committee yesterday. Litecoin was its way down south, and the Chinese endorsement cast a Holy Grail spell on the Altcoins.

Charlie Lee has been previously talking about bringing in features of Privacy to the Litecoin.  However, there are increased concerns because several cryptocurrency exchanges have been dropping down the privacy coins in recent weeks. The growing concern is that if privacy features were added to the Litecoin, then the cryptocurrency exchanges would drop it down.

One of the crypto influencers recently opined that the Ripple was a better idea for the world when compared to the Libra. It goes that the Libra being in control will have corporations exerting their authority on the global payment system. There are also fears that the social media giant Facebook will be the actual decision-maker when it comes to decisions related to Libra and not the Libra association.

Katharina Pistor tweeted:  “This is too big to let go. Perhaps the Libra was a trial balloon, but let’s not fool ourselves. Someone will control the digital infrastructure for global payment. Any bets who the winner might be?”

Ripple is time and again, being proposed to be the best payment solution opposite Libra.

TRON is talking about its new partnership with a $100 Billion “Mega Corporation.”  This is not yet another hype.  The name of the corporation is not clear.  It is not new for Justin Sun to excite his followers with messages which do not have enough details, but he continues to instill suspense to surprise his investors.

Justin Sun was previously accused of buying more than 5,000 to 6,000 twitter followers in a day.

Josh Rager commented: “Looks like you’re still buying 5,000 to 6,000 followers per day. My favorite stat is how you went from losing net-negative followers per month to gaining 5k followers daily like clockwork in late 2018.” He also stated that TRON and Justin Sun were memes, and he expressed how he felt sorry for the TRON followers.

And of note, TRON continues to reschedule his charity lunch with Warren Buffet.