Litecoin Recovers After Massive Slide as Charlie Lee Makes Bold Prediction
Published // — Discuss and ask questions in our community on Workplace . LTC/USD Price Levels
The Litecoin cryptocurrency reached a session high of $222.88 on Monday. At time time of writing, the LTC/USD exchange rate was valued at $218.
34 for a gain of 7%. At current values, the coin has a total market cap of $12.
1 billion, placing it fifth among active cryptocurrencies.
In terms of overall trade volumes, more than $1 billion worth of LTC have changed hands in the last 24 hours. OKEx processed roughly 31% of the daily transactions. Coinbase’s GDAX exchange saw more than 11% of the daily turnover.
// — Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership — //
Litecoin has experienced extreme volatility in over the past week. Prices rose above $240 last Tuesday before crashing back down to the mid $180 region over the next two days. The 25% decline far outpaced the cryptocurrency market’s broad retreat last week.
Meanwhile, the newly created Litecoin Cash (LCC) cryptocurrency has failed to generate momentum in its first week of trade. The coin touched a high above $9.
00 shortly after the Feb. 18 hard fork, but has since fallen back to the low $5 region. Lee: Litecoin Will Beat Bitcoin Cash
Litecoin founder Charlie Lee made a bold prediction Sunday: his currency will be worth more than bitcoin cash (BCH) this year.
“The flippening (ETH>BTC) will never happen. But the flappening (LTC>BCH) will happen this year,” Lee tweeted from his @SatoshiLite Twitter handle.
As the world’s fourth-largest cryptocurrency, bitcoin cash is valued more than five times greater than Litecoin. However, it wasn’t so long ago that BCH was worth a mere fraction what it is today.
The bitcoin spin-off caught its first major tailwind in November after the backers of Segwit2x abandoned their mission .
The coin, which peaked above $4,000, is currently valued at $1,170. At current price levels, BCH has a total market capitalization of $20.1 billion.
The prediction that LTC will outpace bitcoin cash isn’t entirely far-fetched given all the positive news surrounding the Litecoin project.
Later today, Litecoin will launch Litepay, a potentially game-changing payment platform that could help LTC challenge bitcoin as a real-world use-case. As we reported earlier , LitePay will help retailers, e-commerce businesses and fundraisers accept LTC instantly.
Users of the payment system will have the ability to store LTC tokens directly in their LitePay wallet, which can then be converted to fiat money instantly for a flat fee of 1%.
According to the company website , LitePay will have many real-world applications:
“Use LitePay’s retail, e-commerce, billing, and donation tools to accept payments from customers anywhere on earth.
Receive settlement from Litecoin payments directly to your bank account in your own currency, with zero price volatility or risk.”
Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.
Featured image courtesy of Shutterstock.
Important: Never invest (trade with) money you can’t afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here . Trade recommendations and analysis are written by our analysts which might have different opinions.
Read my 6 Golden Steps to Financial Freedom here . Best regards, Jonas Borchgrevink.
Rate this post: Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate.
Failed Trade Recommendations should not be rated as that is considered a failure either way.
( 13 votes, average: 4.92 out of 5 ) You need to be a registered member to rate this. Loading.
.. Sam Bourgi 4.6 stars on average, based on 169 rated posts Sam Bourgi is Chief Editor to Hacked.com, where he specializes in cryptocurrency, economics and the broader financial markets. Sam has nearly eight years of progressive experience as an analyst, writer and financial market commentator where he has contributed to the world’s foremost newscasts.
You must be logged in to post a comment Login Leave a Reply DigixDAO: The Only Light in a Sea of Red
Published // — Discuss and ask questions in our community on Workplace . DGD Price Levels
DGD rose more than 22% on Saturday, reaching $390 per token, according to data provider CoinMarektCap. The cryptocurrency was up nearly 26% against bitcoin and more than 23% versus ether.
At current price levels, DGD has a market cap of $779 million based on a circulating supply of 2 million coins.
That’s enough for 30th place among active cryptocurrencies in terms of overall market cap. // — Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership — //
Trade volumes in the last 24 hours reached $77.3 million, with the vast majority of the trades being placed on Binance against bitcoin.
Between bitcoin and Ethereum, Binance processed roughly 86% of the daily trade volume.
DGD has rebounded more than 83% from its recent swing low, but is still trading 14% below its all-time settlement high of $456.44 on Feb. 2. Beating the Market
DigixDAO’s native coin has been rising gradually even as a week-long pullback in the crypto space shaved tens of billions of dollars off the collective market cap.
This isn’t the first time DGD has outpaced the market.
Three weeks ago, Hacked reported impressive gains for the cryptocurrency as virtually every other digital asset in the top-100 declined double digits.
At the time of writing, the total market cap of all cryptocurrencies was $430.5 billion, down 3.4% from the previous day and 6.
7% from the intraday high of $461.6 billion.
Aside from DGD, Ethereum Classic was the only cryptocurrency in the top-30 to report gains on Saturday. DAO Platform
As a Distributed Autonomous Organization (DAO), Digix was part of Ethereum’s first public crowdraise all the way back in 2016. The token raise launched in March of that year and reached its crowdfunding goal of $5.
5 million in 12 hours.
DigixDAO is often referred to as a gold-backed cryptocurrency, but this only applies to its DGX token. The company operates two tokens, with DGX supposedly pegged to one gram of gold. Gold futures are up more than 15% year-to-date on a tumbling dollar and wavering risk sentiment.
Unlike most digital currency systems, the DAO protocol gives investors a voice in the company’s decision-making process.
Depending on how the DAO is structured, investors can vote on how funds are deployed or which business proposals it entertains.
Ethereum founder Vitalik Buterin is planning to make DAOs central to future crowdraises. This will be accomplished by a new protocol called “DAICO,” or Decentralized Autonomous Organization Initial Coin Offering. Gaming platform The Abyss recently announced it will be the first company to utilize the DAICO model.
Through DAICO, companies can encode specific rules into their crowdfunding campaigns, such as KYC/AML requirements and investor approval for accessing project funds. The specifications behind DAICO were first laid out in January blog post penned by Buterin.
No other project has announced plans to utilize the DAICO model, although this may soon change as demand for transparency continues to grow.
Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.
Featured image courtesy of Shutterstock.
Important: Never invest (trade with) money you can’t afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here . Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here . Best regards, Jonas Borchgrevink.
Rate this post: Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way. ( 2 votes, average: 5.00 out of 5 ) You need to be a registered member to rate this. Loading… Sam Bourgi 4.6 stars on average, based on 169 rated posts Sam Bourgi is Chief Editor to Hacked.
com, where he specializes in cryptocurrency, economics and the broader financial markets. Sam has nearly eight years of progressive experience as an analyst, writer and financial market commentator where he has contributed to the world’s foremost newscasts..