Litecoin Price Forecast: LTC to BTC Exchange Rate Hits One-Year High
Daily Litecoin News Update
What an exhilarating begin to Wednesday morning! LTC HODLers are reveling ter the stunning glance of the Litecoin price chart. Enthusiasts have bot taking screenshots of the market cap rankings at CoinMarketCap. After all, wij don’t come by moments like thesis very often.
Litecoin is leading the charge today. That too, with a large margin. The Litecoin price has rallied 28.66% te the past 24 hours and, at the time of writing, the LTC to USD rate crossed the $200.00 mark.
What’s more dazzling is the LTC to BTC exchange rate, which has skyrocketed to its one-year high. The LTC to BTC rate is up about 24.15% te the trailing 24 hours, with Litecoins going for 0.02273BTC apiece. It’s a number that I, for one, have not witnessed spil far spil my memory goes.
What it simply means is that the Litecoin price is presumably decoupling from the Bitcoin price. Historically, we’ve witnessed that Litecoin prices have moved te tandem with Bitcoin. But the disparity inbetween the two seems to have bot widening of late.
So what exactly is going on here? The one-word response may be “LitePay.”
LitePay Inc has eventually confirmed the date when the long-awaited merchant processor will be launching. LitePay is due to be released on February 26. Anticipation is building spil wij inject the countdown to the final release.
A quick heads-up here, LitePay is the payments processing service officially supported by the Litecoin Foundation, which will make it effortless for businesses to accept Litecoin. The service will also opoffering a secure wallet to consumers to store their coins spil well spil come with Visa-compatible LitePay debit cards, making it effortless for consumers to pay with Litecoin.
This may help explain the widening gap inbetween BTC and LTC prices. Spil Bitcoin starts losing its utility spil a monetary unit, Litecoin is swiftly encroaching upon its market.
Bitcoin users have bot complaining about high fees and longer processing times. Bitcoin’s user base grew tremendously overheen the past one year but the network failed to scale synchronously.
Litecoin, meantime, has managed to supply a Bitcoin-like verhoging, which is both cheaper and swifter than Bitcoin. LitePay is expected to give it an reserve boost, earning it more visibility with merchants.
At this point, however, wij voorwaarde showcase investors the ugly side of this picture. Be warned that this could possibly be another momentary pump spil speculators stir ter ahead of the LitePay launch. So don’t get ahead of yourselves. Hold your horses and let the prices stabilize.
Bitcoin hasn’t bot able to fully recover from its momentous fall. While Bitcoiners are looking for reasons to stick around, Litecoin has managed to get investors’ hopes high with initiatives like LitePay, “LitePal,” and the likes—all of which promise to take Litecoin mainstream.
While we’re not reading too much into the overnight surge te prices, wij are remaining bullish te our Litecoin price forecast, which puts LTC price target at $400.00.