Litecoin (LTC) is performing quite well today and is up by 5%, outperforming bitcoin (BTC) and much of the crypto market. This is after news that Litecoin is working with TokenPay to buy a stake in a German bank. In a tweet sent out on the 10th of July, Litecoin founder, Charles Lee announced that Litecoin was entering into a strategic partnership to purchase a stake in WEG bank. The goal of this purchase is to allow Litecoin offer crypto solutions to consumers.
This is exciting the Litecoin (LTC) investor community and there is a good reason to be excited. That’s because part of what is holding crypto mass adoption is the lack of solutions that directly affect the common person on the street. While crypto offers so many solutions that can help the average Joe, it is too technical for most people to understand. As such, Litecoin will benefit from this bank purchase, by creating solutions that target ordinary bank users. For instance, Litecoin could be looking into Litecoin (LTC) debit cards, and this is a big deal. People would quickly take up such a solution because of the benefits that Litecoin has to offer such as cheap transaction fees. Such an increased up take of Litecoin will lead to an increased intrinsic value of Litecoin (LTC), in the future.
Litecoin also has a huge global summit coming up in September. As this event approaches, the hype around Litecoin will grow, and the same will reflect in its price. The event will bring together different stakeholders, including exchanges and companies looking to adopt Litecoin, and will be centered on some of Litecoin’s latest innovations. If Litecoin makes some major announcements during this event, it will be an even bigger boost to its long-term value.
But these are not the only reason why Litecoin is a good bet at the moment. Litecoin block reward halving will take in August 2019. As a result, Litecoin mining difficulty will increase, meaning that the supply of Litecoin coming into the market will decline, as mining difficulty increases. On the basis of supply and demand, this will have a huge impact on the value of Litecoin. In the past, bitcoin (BTC) halving led to a huge increase in price, and Litecoin could face a similar effect. With such a huge fundamental factor to the price of Litecoin (LTC) coming up, it then follows that Litecoin is highly undervalued at current prices. This means that its demand will continue to rise all through the year, going into 2019.
A confluence of all these factors make Litecoin (LTC) one of the most undervalued cryptos in the market today. They could see Litecoin rise steadily all through 2018, and after the 2019, halving, it could easily hit $1000. Of course, it will also be supported by the rise in the entire market. That’s because the bear run that has dominated the market for the last 6 months is coming to end. Bitcoin (BTC) has already rejected the $6000 low twice, an indicator that bears are losing momentum. It’s time to stock up on Litecoin (LTC).