Litecoin Price Doubles in 2019: 5 Cataylsts Fueling the Rally
SFOX says there are 5 factors fueling Litecoin’s remarkable 2019 surge. | Source: Shutterstock
The broader crypto market has been stuck in a narrow trading range over the short-term, but there’s one cryptocurrency whose value has nearly doubled year-to-date, and that’s Litecoin (LTC). The fifth-biggest coin, which is currently trading at $60.75, has benefitted from a few high-profile partnerships inked by Litecoin creator Charlie Lee, not to mention a push toward confidential transactions.
After trading in the shadow of its larger sibling bitcoin (BTC) for so long, Litecoin, whose primary use case is “peer-t0-peer electronic cash,” is finally forging an identity of its own.
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Cryptocurrency prime dealer SFOX outlined five catalysts that have driven the LTC price to levels it hasn’t seen since September 2018 on persistently-solid trading volume to boot.
1. Mainstream Litecoin Adoption
The Litecoin team are masters at getting merchants to integrate LTC payments into their systems. Just ask Bob Moore Auto Group, which according to Lee “signed on with @AliantPayment to accept Litecoin at their dealerships,” starting with an Oklahoma City location. This means customers can pay for their Subaru with LTC.
Bob Moore Auto Group has signed on with @AliantPayment to accept Litecoin at their dealerships! The first to have it will be the #1 dealership in Oklahoma City,