- Litecoin has seen some dips recently as well as most altcoins in the market.
- Despite the losses, Litecoin has announced a partnership with Cred, in order to make further use cases for the cryptocurrency.
The sixth largest cryptocurrency in the space, Litecoin has seen some dips recently as well as most altcoins in the market. Despite the losses, Litecoin has announced a partnership with Cred, in order to make further use cases for the cryptocurrency.
Use cases are one of the most important things that define a cryptocurrency and given this latest partnership, Litecoin is going to be able to provide holders with the ability to earn interest in up to 10%. Going off a press release shared by the foundation:
“Litecoin holders will be able to commit to a six-month term and receive monthly interest payments, with the option to roll over pledged assets for additional periods.”
However, despite this, the details of the partnership have not been fully disclosed. But they did note that the funds generated from Litecoin Foundation will be used to help support the ecosystem of Litecoin as well as its development. The CEO and co-founder of Cred, Dan Schatt has said the following:
“We are delighted to partner with Litecoin Foundation, one of the oldest and most trusted names in the blockchain industry. We look forward to supporting the millions of Litecoin wallet holders with a more transparent, equitable set of financial services we have built, thanks to the advancement of blockchain technologies.”
The market for Litecoin seems to be positive for the future.
It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!