Analyst Expects Pain for Litecoin as It Paints “Bearish Engulfing Candle”

Litecoin (LTC) has surged 42 percent in a three-week winning streak. But the rally showed signs of exhaustion upon testing a “huge falling resistance” for a breakout. LTC printed a so-called “bearish engulfing candle,” which, according to financial analyst Vince Prince, spells downside risks for the cryptocurrency. Litecoin is at risk of breaking lower after surging three weeks in a row by 42 percent. The silver cryptocurrency painted a “bearish engulfing candle” on August 2, a phenomenon that signals lower prices ahead. Vince Prince, the financial analyst who first spotted…

Litecoin Short on Mimblewimble Funding, Development Moves Forward

Key Takeaways Developer David Burkett continued to develop Litecoin’s Mimblewimble privacy features this month Mimblewimble should arrive on Litecoin’s testnet in late September The project has raised $48,000 but needs to raise $72,000 in total Share this article Developer David Burkett has shared an update on his work to implement Mimblewimble on Litecoin. The upcoming feature will introduce optionally private transactions for LTC users. This month, Burkett focused on implementing Initial Block Downloads. Whereas most other blockchains require full nodes to download several gigabytes of data related to past transactions,…

You Can Now Trade Litecoin on the Ethereum Blockchain With Kyber

The Kyber Network, a decentralized, on-chain cryptocurrency exchange, has just listed the Ethereum-compatible pLTC token — a new cross-chain token developed by pTokens project. Announcing the news to Cointelegraph on Aug. 3, Kyber Network said that pLTC tokens will be accessible through KyberSwap and other decentralized apps, or DApps. They will also be available on platforms powered by Kyber’s on-chain liquidity protocol. pLTC is pegged to Litecoin The news comes shortly after pTokens launched pLTC token on the Ethereum mainnet on July 29. Similar to other “pTokens”, pLTC token aims…

A Substantial Number of Idle Litecoin Were Moved Suggesting Incoming Volatility

Litecoin appears to have gained some visibility despite its lackluster price action. The eighth-largest cryptocurrency in the market took the spotlight after Grayscale Investment announced that regulators have given the green light for the sale of shares of its Litecoin Trust to the public. The new FINRA approved stock will trade under the symbol LTCN within the next month. The move is set to provide investors exposure to the underlying asset while avoiding the pitfalls of buying and storing Litecoin. “There will be no trading volume in the Shares’ public…

Chainlink (LINK) Rallies as Market Cap Surpasses Litecoin and Binance Coin

Today Chainlink (LINK) surpassed Binance Coin (BNB) and Litecoin (LTC) in market capitalization. Data from CoinMarketCap shows LINK’s market cap surged to $2.86 billion as the price rallied 9% to $8.17. This brought the market cap above BNB and LTC whose market capitalization sits at $2.84 billion and $2.83 billion respectively. Although LINK price did not break its previous all-time high of $8.22, it surged 14% in the last 24 hours and at the time of writing the altcoin trades for $8.17.    To date, LINK has been one of the…

If Crypto Traders Abandoned Litecoin Why Are Investors Hoarding LTC?

Price wise, Litecoin (LTC) has had a pretty rough year and currently the altcoin is down 51% over the past twelve months. The lack of GitHub activity and planned protocol upgrades have Litecoin co-founder Charlie Lee to admit 2019 saw a historic low in the number of developers working on Litecoin Core, the software behind network nodes. The beginning of 2020 was no different and Charlie Lee asked for voluntary LTC miner donations to help boost development funding. Uncertainties regarding Litecoin’s future have caused investors to lose interest in the…

Could a Cardano & Litecoin Team Up Be in the Works?

Cardano founder Charles Hoskinson recently said that he would not mind working with Litecoin founder, Charlie Lee, to test cross chain communication. “It would be great to do something together,” Hoskinson said in a July 7 tweet to Lee.  Both men founded industry giants Hoskinson founded Cardano (ADA), which, at press time, sits seventh on the list of crypto assets in market cap size, according to CoinMarketCap. Litecoin maintains the eighth spot. Both figure heads hold notable status in the crypto and blockchain space.  “I love the idea of testing cross…

Charlie Lee Breaks Down ‘Litecoin 2.0’

The creator of Litecoin, Charlie Lee, discussed the upcoming MimbleWimble upgrade which aims at enhancing Litecoin’s scalability and privacy. Lee noted that Litecoin’s upcoming implementation will be able to scale much better than other privacy-focused protocols, like Monero or Z-Cash. “It does privacy and scare very well compared to other implementations”, he said. Talking about the risks involved, Lee pointed out “hidden inflation”, a bug commonly affecting privacy coins which allows hackers to counterfeit an infinite amount of coins. However, “The risk is manageable”, Lee noted, pointing out that the…

Litecoin Signaling Fresh Increase To $50: Here’s How It Could Refuel Bitcoin

Litecoin retreated from the $50.00 resistance and found support near $45.00 against the US Dollar. The price is currently rising and it could surge if it clears the $48.00 resistance. There is a major bullish trend line forming with support near $46.50 on the 4-hours chart of the LTC/USD pair (data feed from Kraken). Bitcoin price could also continue higher above $9,800 if LTC first clears the $48.00 resistance. Litecoin price is rising again from the $45.00 support zone against the US Dollar. LTC is likely to first break higher…

Ethereum, XRP, and Litecoin Outperform Amidst Market-Wide Crash

The cryptocurrency market is going through a period of high volatility, but there are critical support levels preventing Ethereum, XRP, and Litecoin from a steeper decline. Key Takeaways Institutional and retail demand for Ethereum skyrockets while its price sits at a pivotal point. Meanwhile, Ripple’s XRP is about to add a new feature that could change the way this altcoin is transacted. Litecoin, on the other hand, is one step closer to anonymous transactions on its network. Share this article Ethereum, XRP, and Litecoin continue to hold steady despite the…