Cryptocurrency

Litecoin LTC’s Rollercoaster Evolution – The Warning Signs

It looks like a lot of crypto coins have seen an improvement after this productive week. The one coin that we are going to focus most of our attention on is Litecoin, which was seen to skyrocket on the market after this short period of time.

Litecoin’s evolution

It is true that Litecoin was not the star of the show, with other coins having greater success but it is important that we focus on this one at the moment. We have seen that Litecoin managed to experience almost a 5 percent raise today, coming up at 149.19 dollars.

This year so far has shown very mixed results for Litecoin. In the beginning, the crypto-coin managed to lose more than half of its market cap. From what we saw, at one point the coin got down to almost 100 dollars. However, it looks like after that problematic moment the cryptocurrency is slowly making its way back up on the charts to the place that it previously had, and perhaps even higher.

  • litecoin
  • Litecoin
    (LTC)
  • Price
    $55.03
  • Market Cap
    3,184,104,972.00

The warning sign

One of the biggest problems for the company came from the director of operations, Keith Yong, who said that when he asked for more funds to invest in the company’s Litepay app. However, the founder of Litecoin had other things to say, mentioning that they wrongfully invested in an app that was too good to be true at the time that it was planned and a bit too early for the evolution of Litecoin.

It looks like Litecoin is getting help from TenX, which decided to lend a hand by adding LTC on their mobile wallet platform. This move came without being officially announced, making it a pleasant change. TenX and Litecoin are now partnering up and we are more than ready to see how this partnership is going to evolve in the future.

coinmag

I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.