With more use cases like NFTs, Metaverse and DeFi have been brought to life in the cryptocurrency space, LTC as a global payment tool can still be a valid reality.
Litecoin Foundation: “Spending Litecoin is easier than you think. Ways to use your Litecoin on everyday purchases. PaywithLitecoin Pay directly to merchants that accept LTC. Buy gift cards via Bitpay and Transfer funds with a P2P transaction.”
Litecoin (LTC) has been held in high esteem by regulators and merchants from across the globe.
Japan Virtual and Crypto Assets Exchange Association (JVCEA) will release a “green list” of 18 cryptocurrencies. The green list cryptocurrencies will be exempted from being screened every time an exchange lists them. Apart from Bitcoin and Ethereum, Litecoin is also included in the list. LTC is the no hype crypto and therefore several crypto payment services have continued to include Litecoin in the list.
LTC is the top cryptocurrency used in Sports Betting along with DogeCoin and XRP. Onchain transactions of LTC continue to happen. The fundamentals of Litecoin are so strong, and this has led it to be able to have a consistent investors community. Despite fluctuations in price, more than 200K investors have been active over the past few months.
Currently, the LTC price has a bullish picture, after a 10-month downtrend. The recent really has instilled the holders with optimism. LTC retested its critical support level at $123, a relapse to downtrend is possible if it does not sustain the support level.
Bulls are testing resistance at $126. And a retest at $122 – $123 is unavoidable if bulls should continue their buying spree. Following the February 24, 2022, price plummeting in the past month when the bullish trend set in there was a 39% ROI. This created a positive sentiment and the bulls have been trying to push further.
Despite, there are analysts who believe that a push to $140 is a viable target for LTC. This is expected to be a new monthly high, whether wishful or not.
Despite being a no hype coin, Litecoin (LTC) is a project worth investing in. The purpose of the coin was to prioritize transaction speed. This is why it has built a reputation in the cryptocurrency space.
While Bitcoin is hailed to be Digital Gold and Litecoin to be Digital Silver, the belief that Litecoin has high correlation with Bitcoin continues. Therefore, considering LTC is cheaper than BTC, users should consider stake LTC.
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