The beginning of the current week continued to demonstrate to us a decrease in the Crypto-currency quotes. All indicators go down, which, most likely, speaks about the next correction in the market. But the latest news about Litecoin will help restore the mood. Now, most likely, we get the first confirmation that members of the crypto community are gradually starting to use Litecoin as a means of payment. Creator Litecoin Charlie Lee on his Twitter account published a screenshot of the number of transactions carried out using the crypto currency. As Lee himself says, in comparison with the results of other altcoyins, as a percentage of the total capitalization of the market, Litecoin is ahead of all.
At the time of posting the post on Twitter, the number of transactions with Litecoin was really shocking – 95% of the total capitalization. The amount of transactions with altcoyin that were made in the last 24 hours is about $ 3 billion. If we calculate, we will get 23% of the total market capitalization of the Crypto-currency. Such indicators lead Litecoin into the world’s top crypto currency.
“What of this?”, You may ask.
Altcoin developers are trying to make Litecoin a full-fledged “medium of exchange”, partially or completely replace the world’s leading crypto currency, bitcoin, which recently recommends itself not in the best light – the crypt has become much more expensive, and its network itself is too slow due to massive overloads. However, in order to make it possible to implement the plans of Litecoin developers, altcoin itself should slightly pacify its volatility, so that market participants do not have big problems with predicting further course changes.
Because of this, Charlie Lee argues that it is still worth paying more attention not to the price characteristics of the crypto currency, namely, to the volumes and number of transactions carried out:
“People should actually start using Litecoin. And the price will be tightened. ”
The flythrough of the entire crypto-currency market is precisely the excessive volatility of assets – the participants in the crypto-community sometimes find it too difficult to predict a further change in quotations. Therefore, we can say that the crypto-currency market requires its participants to have a really strong nervous system and iron aging. So, the same Litecoin last week slowly declined in price, reaching a mark of $ 229, and then sharply changed its direction and crossed the $ 300 mark for a coin. Such behavior of assets is unacceptable for participants, for example, the stock market, but for the market there is such behavior of quotations in the order of things.
Altcoin slowly but surely continues to move in the right direction, which increases the possibilities of realizing the dream of the developer Litecoin that the coin will become a full-fledged means of making payments. In general, the forecasts for the change in Litecoin prices during this year are very positive. Many experts believe that in 2018 Litecoin will be able to reach the $ 400 mark.