Fifth-placed cryptocurrency Litecoin witnessed its value rise by almost 35 procent te a 24-hour period today ahead of the LitePay launch.
Te an announcement on Twitter, the San Francisco-based payment processing company said that it would be launching on the 26th February. Spil a result, prices earlier today witnessed Litecoin hop to $218, according to CoinMarketCap. This talent it a LTC/BTC trading price of $0.0235 BTC, higher than what it achieved ter July 2015, at 0.0280 BTC.
At the time of publishing, it’s trading at $210, providing it a market value of $11.6 billion, and pushing it into fifth place.
Significantly, Charlie Lee, the creator of Litecoin, took to social media to say:
“LTC/BCH has just surpassed 0.02. This is higher than when I sold my litecoins. Te other words, LTC has outperformed BTC since that time. Just telling!”
LitePay, which has a similar webstek layout to that of bitcoin payment provider BitPay, will be suggesting many of the same services to that of the Atlanta-based provider. One of its features will be to permit businesses to accept Litecoin payments. It will also punt a LitePay debit card to be used anywhere.
According to LitePay, people were asking BitPay to accept Litecoin, but when they refused LitePay wasgoed born taking on the challenge of providing a verhoging instead.
“I have always thought of Litecoin spil a sleeping giant,” said David Motta, Internet entrepreneur, investor, and CEO of business consulting rock hard, ACQURE Business Solutions, speaking to Ethereum World News. “However, inbetween rumours around Microsoft programma to use it on their decentralised identity system and with the latest developments of the LitePay technology focused on permitting businesses to begin accepting Litecoin payments and Litecoin debit cards, this might be the bold budge that brings Litecoin into the mainstream.”
Motta added that ‘the chicken is about to rise.’
This, however, is one reason why Litecoin’s price has seen a bump te value. Reports are suggesting that it could also be linked to an announcement that an unaffiliated organisation is going to hard fork the main Litecoin blockchain to create Litecoin Metselspecie on the 19th February.
Notably, however, Lee announced a week before that any fork of litecoin ‘is a scam attempting to confuse you it’s related to Litecoin.’
Back ter January, Lee said:
“Since on the topic of scams, any fork of Litecoin, calling itself Litecoin something or other, is a scam IMO. Litecoin Specie, Litecoin Plus, Litecoin *… all scams attempting to confuse users into thinking they are Litecoin.”
He also said this applies to all bitcoin forks attempting to confuse people.