Litecoin price news: What is the price of Litecoin today? | City & Business | Finance

2018-04-16 08:00:00

Despite a strong showing against bitcoin and a positive weekend, LTC lost 3.12 percent across today. 

And as of 8pm, Litecoin is trading at $127.45.

Is Litecoin crashing? 

Amid a market-wide slump, Litecoin continues to lose momentum and the currency lost almost $60 million market cap over 24 hours, falling from £7.17 billion to $7.11 billion.

The trend looks set to continue throughout April as the US tax deadline looms nearer. 

American traders will be quickly selling off cryptocurrency assets to make cash to pay capital gains tax, pushing prices further down. 

LTC took a big hit when new transaction service, LitePay, announced it would be ceasing trading after a week of operation.

The app released a statement saying it was being less than transparent and would be shutting up shop.

The prices tumbled for LTC but a strong comeback is a positive sign.

Rumours are swirling that LitePay could be launching a debit card, to solve the problem of a lack of integration from payment providers. 

Should this development occur, Litecoin prices could skyrocket, with providers no longer having to validate the currency in a digital form. 

Fundstrat founder, Tom Lee, has predicted bitcoin will reach the $25,000 in 2018. 

Should bitcoin do this, it is likely the rest of the market will float up alongside the rising tide. 

Litecoin traders are also happy to see news that you can now run a Litecoin mainnet Lightning Node on Mac computers.

A tutorial has been posted online that gives users all the commands and codes required to set-up a lightning node. 

The Lightning Network is a “second layer” payment protocol that operates on top of a blockchain ledger.

The network is typically used for bitcoin, but the shift to LTC on Mac computers is a welcome turn for the currency. 

It enables instant transactions between connected nodes to alleviate computing pressure on the ledger and has been touted as a solution to the bitcoin scalability problem.

The announcement was tweeted by Charlie Lee, founder of Litecoin, saying: “Thanks to @ecurrencyhodler for creating a guide on how to get Litecoin mainnet Lightning Network up and running on a Mac. If you have a Mac, be adventurous and do some mainnet Litecoin LN transactions!”

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