Keep going, old timerForgotten crypto veteran Litecoin hits the big 70m coins mined. Could the lowering coin supply help it make a comeback?
- Litecoin announced on Wednesday that it has now mined 70m of its 84m coin supply, coming shortly after Bitcoin passed the 19m mark on its own mining journey. Both have a way to go before every last coin circulating though – around a hefty 120 years.
- It hit ATHs back in December 2017 and has yet to really show us that it ever wants to reach those heights again. Five years is a long time in the cryptoverse. Very long. Back then, ADA was at $0.5 and XRP was only a couple cents more. And your favorite shitcoin? Wasn’t even around.
- LTC moved up 2% on Wednesday, yet to break out of a downtrend that began on November 10. While Litecoin often takes a bit of a bruising for disappointing investors, it does have plans to integrate smart contracts in the near future. This is the sort of bullish news that it might need to send it back to the glory days of $400.
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Mischief managedLitecoin finally casts its Mimblewimble spell, but it accidentally silences prices too.
- It released its highly anticipated Mimblewimble upgrade on Tuesday after spending two years developing it.
- The upgrade is a privacy focused one. It basically means that users can send money without anyone seeing how much or what else is in their wallet – privacy tokens have drawn a load of regulatory scrutiny though, so it’ll need to watch out.
- Prices popped 5% on Tuesday after the release to hit a ten-day high, but got drawn into Wednesday’s crypto sell off to see those gains swiftly erased with losses of 5.86%.
Litecoin goes bounding upLitecoin gets a kangaroo kick in the ass this week from a deal with a major Australian bank.
🇦🇺 Prices jumped 13% on Monday to hit a six-month high after Commonwealth Bank of Australia brought Litecoin on board for its customers.
📈 Litecoin could reach $1k according to analysts, after its new debit card (powered by Unbanked) opened up access to 50 million merchants worldwide.
🦘 The coin has seen 140,000 transactions over the past week.
A rumor-driven rollercoasterLitecoin gains (and loses) over 20% in just two hours after a press release claims that Walmart will start accepting the digital token as payment. Spoiler alert – it’s a fake.
Litecoin enthusiasts were thrilled on Monday when a GlobeNewswire press release revealed that Walmart (WMT) would soon accept payment in the form of Litecoin. Prices soared 24% in a matter of minutes, flying from $174.04 to its highest price ever at $236.88 in the space of an hour.
However, investors came crashing back down to earth when Walmart (WMT) caught wind of the rumors and quickly stomped them out, confirming that the press release was a fake. Prices lost 17% the next hour, leaving the coin down 2% at the end of the day.