While writing Litecoin is trading at just over $232 according to Livecoinwatch which places it nearby 28% higher than this time yesterday. This time last week the altcoin was suspended around $145 so its weekly growth is an even more inspiring 60%. Litecoin has had a rough year dropping from the greatest high of $370 just before Christmas to a low of $107 on the large February 6 dip. This is the first time the digital asset has shown solid gains in just under two months.
According to CNBC, which is more familiar to spreading FUD, it’s surge can be credited to the launch of a new payments processor. LitePay, due for launch on February 26, will allow merchants and trades in 41 countries with the US, UK, China, Japan, and Germany to receive payments in Litecoin. It is a Visa-compatible system that changes Litecoin to dollars, which would allow users to use it anyplace Visa is recognized.
Moreover, Singapore registered non-profit Litecoin Foundation is also a depositor in the new system. Furthermore to LitePay, Coinbase newly launched a crypto payments app enabling merchants to attain the top digital currencies, with it.
Additional interest in the once slow-moving altcoin has come from an awaiting fork due around February 18 at block 1371111. When the chain splits holders of it have been assured 10 new Litecoin Cash tokens for every 1 LTC they have. There is a catch though which has upraised worries of a scam and drawn criticism from Litecoin founder Charlie Lee.
While writing it’s market capacity positions at $12.8 billion. It has reached Cardano in the plans and is now the fifth most current cryptocurrency. Over $2 billion has been operated in LTC over the past 24 hours, and it remains to rise on the long-awaited good news.