Fresh News From LTC & ADA

So today, we’ve got two topics for you on two different cryptocurrencies. In this video, we’re going to be discussing Charlie Lee who has said that Litecoin wants more fungibility and privacy in the LTC ecosystem and Charles Hoskinson jumps on a Twitter thread with a member of the community after they took a dig at TRON whilst bigging up Cardano.

Cardano & TRON

So one member of the crypto community took to Twitter recently to say “As long as ADA ranks above Tron, there is hope for this world”. Usually, this wouldn’t be worth reporting on since it’s just the opinion of one person but the tweet garnered a bit of attention by other members of the community. Not to mention that Cardano’s very own Charles Hoskinson got involved in the discussion.

So what the user intended for the tweet to mean was that whilst Cardano stays above TRON in the cryptocurrency ranking, then this could be a lot better for the crypto space.

Hoskinson responded to the tweet saying “The dog barks; the caravan moves on” with people quickly catching on that this was likely to be a dig at TRON’s CEO and founder, Justin Sun.

TRON has been jumping from the eight, ninth, tenth and eleventh spots on the crypto top 100 market for a while now, at the start of the year it was in the top ten cryptocurrencies too for a short time.

Earlier this week saw ADA swoop in and replace it after it made an impressive move at the end of last week which saw it make some significant gains in price. The surge has led to the market cap growth which allowed it to take over from TRX. ADA was given an A rating as a result of this growth by the Fundamental Crypto Asset Score.

The all of a sudden surge is linked with the recent upgrade to Cardano’s system, 1.5. The upgrade has significantly increased the interest in ADA and has prompted the price surge which led to the displacement.

Even though TRON is one of the most popular cryptocurrencies in the space, partly thanks to the consistent activity by its CEO Justin Sun, the TRX token hasn’t been able to make it up the ranking ladder.

In fact, according to a recent report, around 1 million of Sun’s Twitter followers are fake bots which are probably why the popularity isn’t yielding many positive results.

Prior to this, the Securities and Exchange Commission had frowned upon the way Sun goes about gaining publicity saying he doesn’t use innovation but rather a public comparing in order to get followers. But, on the other hand, Cardano has been working hard on its upgrade which seems to have finally paid off.

Litecoin

Now onto the Litecoin news. Charlie Lee recently sat down with NewsBTC in an exclusive interview where he shared the plans that Litecoin has for the future as well as his thoughts on the current bear market among other things. Let’s take a look at the highlights.

The founder of Litecoin confirmed that the prolonged bear market has given the network a chance to build more and push products out because there aren’t as many distractions. According to Lee, his network is looking at the ways to “add more fungibility into the Litecoin protocol”.

“So what we’re looking at now is doing a MimbleWimble extension block upgrade for Litecoin. So we’re doing a lot of research into that about how we could make such an implementation in a safe way. We want more fungibility and privacy in the Litecoin ecosystem.”

Whilst he commented on the bear market he also said that the current state of the market is similar to other bear markets that have occurred in the past but “one thing about this bear market, even though it’s been over a year now, is that it hasn’t been as bad for people.” Following on from this, he added:

“I think we haven’t gotten to that point yet, and maybe we might not go there this time, which will be great. But I wouldn’t be surprised if there are more sell-offs, or if it takes a lot longer to climb out of it. It could be another year or so. But who knows? It’s hard to predict these things.”

Lee believes that volatility is the only thing that is holding back crypto adoption. The volatile state of the crypto space makes it hard to use which puts the brakes on adoption, or more that it slows down the process. “Volatility is kind of a chicken and the egg type scenario. Once there is adoption, volatility will decrease, meaning more adoption.”