Over the past week, there has been a hive of activity around Litecoin. LTC is comfortably maintaining a value greater than $200, and with some interesting partnerships coming up in the near future, some speculators are considering the idea that Litecoin could increase ten-fold – or more – before the end of year.
Microsoft and blockchain technology
Earlier this month, tech giant Microsoft announced tentative plans to build decentralised IDs on blockchains, pointing towards three specific platforms as suitable foundations: Bitcoin, Ethereum and Litecoin. As larger entities begin to utilise Litecoin technology, this will only serve to push the value of the coin up.
Turning Litecoin into dollars
For the best part of a year, crypto traders have been requesting a service that allows them to securely spend Litecoin or convert it into dollars via a payment card. A similar service, Bitpay, exists exclusively for Bitcoin – but now one enterprising firm is set to provide a similar solution for LTC owners.
Litepay is launching on February 26th 2018, facilitating the easy use of LTC for goods and services. Litecoin is currently favoured by crypto fans as an asset, with many people simply holding it without trading or making purchases – but this looks set to change.
As increasing numbers of online retailers implement digital currency payment solutions like Coinbase Commerce, the value of the crypto market in general will rise. Charlie Lee, the founder of LItecoin, recently tweeted that one of the main aims of LItecoin – in addition to being used as a popular online wallet and goods trading platform – is its implementation as a merchant processor, followed by a #PayWithLitecoin hashtag.
As the drive to get more users to view Litecoin as a means of payment (as opposed to an investment) continues, this will result in increasing levels of the currency being circulated, driving its value up exponentially. Based on the previous twelve months, If LTC continues on its current trajectory it could well be on course to increase by 1200% by the end of 2018.
Original Image Source: NASA