Litecoin (LTC) it is for sure one of the most reputed coins in the cryptosphere, in fact, the crypto has been conceived as the silver of the pseudo gold that Bitcoin represents. But beyond that, the LTC token has been building up the strongest foundations of the industry to rule the market and set a milestone that launches the coin to the greatness it deserves, the fact that I personally believe will happen very soon.
In this sense, the most recent move of Litecoin is nothing less than approaching the biggest goal of the sector these days, which is relating to the financial industry in a way that virtual and fiat currencies are not perceived as opposites.
Naturally, this represents a considerable challenge for any of the cryptos that decide to assume the task, but so far what specific coins such as Ripple (XRP) or Stellar (Lumens) have been attempting to do is to develop a partnership in which a financial institution adopts its currency, and what if this is the wrong approach?
That is precisely what Litecoin is aiming to prove while changing the strategy and thinking out of the box. Let’s see how it goes!
Litecoin’s recent huge announcement
Till today, no one in the crypto world was actually thinking of being the figure that adopts rather than being adopted, but that’s exactly what Litecoin has decided to do to achieve the biggest goal.
In this sense, the founder and CEO of the company, Charlie Lee, recently used his Twitter account to announce and promote an alliance he deployed with TokenPay in order to buy an essential part of the German bank WEG.
Like this, it is expected that out of this alliance Litecoin manages to provide a better service for end users and design an easy and accessible platform for them to interact with LTC tokens without even having blockchain knowledge or crypto background. In the message, it could be read:
“I’m excited to announce that @LTCFoundation and @TokenPay have entered into a strategic partnership to buy a stake in a German bank, WEG Bank AG. We plan to work on many exciting consumer-driven crypto solutions. Stay tuned!”
It results clear that what the company is envisioning goes beyond the expectations of many in the industry, in fact, one of the mentioned possibilities is that the token manages to launch a credit or debit card with which its users can use LTC for buying goods and services. So the way to go Litecoin!
The upcoming skyrocket of the Litecoin price
The current position of Litecoin in the market is the number 7th, having a price per coin of $58, a value that doesn’t seem that significant. However, if the company accomplishes to deploy its plans regarding linking crypto with the banking system, it would open to a broader variety of customers that would want to interact with its token, which, of course, will increase significantly the demand of the coin.
In addition to this, it is expected that Litecoin will increase its mining difficulties shortly now, a fact that naturally decreases the production of tokens. And guess what happens with high demand and a low production? Prices just go up in an incredible way.
That all said, there is no guarantee in the world of crypto; the currency needs to do multiple things correctly before its price surges. And as always, before investing in any digital asset, do your very own research. Stay tuned.
Image Courtesy of Pixabay
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Disclaimer: The authors of this website may have invested in crypto currencies themselves. They are not financial advisors and only express their opinions. Anyone considering investing in crypto currencies should be well informed about these high-risk assets.
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