Litecoin (LTC), like the rest of the Altcoins has been hit by the market slump. Its performance has left the investor torn between holding and disposing their stakes. With signs of the bear period easing off, there are hopes of a general market revival and this has drawn a lot of interest in the coin.
The month of June has seen the price of LTC drop from $120 to $74 and this has not been a stable zone. As a respected player in the market, the coin is bound t hold longer now that the platform is set to team up with Crypto Facility to introduce Litecoin futures. This addition is backed by CME and its success will be a big boost for LTC.
Litecoin (LTC) Recent Market Inroads
According to Charlie Lee, the Litecoin founder, the futures function will make the coin more legitimate and is soon becoming the natural institutional investor natural choice. Although futures have been blamed for Bitcoin marginal performance in the past, for LTC these will increase liquidity and spur the price up.
To prepare for the anticipated Litecoin breakout, the Federal Reserve Economic Data (FRED) has already added Litecoin to their portfolio. The platform so far has listed coins that have sizeable market cap and popular on Coinbase. LTC is now interacting with BTC, ETH, and BCH. The addition means LTC tracking and analysis will be easily obtainable by investors to make informed decisions.
Litecoin (LTC) is also expected to be listed on BitBox which runs on Line; a Japanese massaging app. once launched, the coin will be able to grow its presence in the japans and Asian market which is a huge plus. BitBox will have 30 digital coins in its portfolio and LTC is among them.
BitBox is a Singapore based outfit and listing LTC means the coin will take advantage of the virgin market. This is a mobile based messaging app and Asia offers one of the largest mobile user fan bases in the world. With over 95% internet penetration, this could be a quick win for Litecoin.
The Bitcoin (BTC) and Litecoin (LTC) Hidden Connection
As things stand at the moment, the future of most Altcoins, LTC included depends on the direction Bitcoin takes. Litecoin plays in the same market where BTC has high presence and a surge north for BTC means the ripple effect will also spur the Litecoin growth.
Why Litecoin is the perfect Coin to Invest in Today
From June 22, the United Kingdom based Crypto Facility added LTC on its network and this has seen increased interest in the coin and this is setting the right momentum for the coin. Now you have access to short and long term hold for LTC.
Litecoin (LTC) is set to be listed on St. Louis Federal Reserve bank by virtue of being among coins with the largest market caps and this is a god route to the market for LTC. This is poised to send the coin price north given that FRED will help traders take the right positions once LTC gets listed.
LTC price has hit the double digit gains in the last 24-hour trading session by gaining 10.59% to the dollar to trade at $82.02 and this is a positive gain from the last few days where it was trading at a low of $74. The coin had also gained marginally against BTC by 2.10% and this could indicate the coin stepping out from the bearish zones in the coming weeks. This is also the right time to start staking on Litecoin (LTC) and enjoy the anticipated gains before close of the year.