Litecoin is said to be one of the fastest currencies in the crypto market due to its utilization of Lightning network originally mentioned in the whitepaper of Bitcoin, the first cryptocurrency and the top digital asset in the market.
LTC is often referred to as Bitcoin’s little brother since Litecoin actually makes up for one of the first hard forks derived from Bitcoin’s blockchain, set to solve the problem with slow network time and slow transactions as noted in BTC.
For a long time, Litecoin has been a proud member of the top 5 list of cryptocurrencies, representing the 5th largest coin in the market, however, LTC saw a massive decline, dropping down to the spot number 7.
EOS (EOS) took its place as the 5th largest currency as it surpassed the market cap of LTC, later on having Stellar (XLM) make the same move, pushing Litecoin down the list.
Will Litecoin go back up in the following months?
Can Litecoin (LTC) Rise Back Up in the Following Months?
Litecoin started to lose on its value in an expanded dip back in June 2018, declining towards the price of 78$ per one unit.
Previously, as one of the top 5 cryptocurrencies, Litecoin made it with an all-time high of over 330$ back in December 2017.
However, at the first sign of decline, Litecoin continued to dip with the active negative market trend, losing over -84% of its total value since December 2017 to this date.
Litecoin is currently seen in an attempt to recover with the latest positive trends in the market, which provided LTC with some positive momentum on weekly charts as well, although it is only going up by a bit over 1% on November 6th.
Litecoin (LTC) Price Today – LTC / USD
Even though Litecoin first dropped at the beginning of February after setting its record price, back then touching the value of 128$ per one LTC, Litecoin was still able to recover only three weeks later, going above the value of 200$.
However, the June decline severely affected the coin in the long run, so after LTC dropped to touch 78$, the coin kept declining, now being traded at the value of 54$ after the latest rise.
Still, Litecoin gained some positive momentum with the news that came out several days ago, which might be its last resort for rising back up in the following months.
Litecoin Available on Facebook Messenger with Lite.IM
Lite.IM, LTC wallet that enables sending and receiving of LTC units through SMS and Telegram, added Facebook Messenger to its list of supported services.
That means that Litecoin had just become available to over 2 billion people who are using Messenger on Facebook, being available for microtransactions through Facebook’s messaging up and Lite.IM integration.
This addition might affect Litecoin in a positive way, providing it with more momentum and pushing it towards a mass scale adoption of LTC, which might also affect its price for better.
For now, LTC is struggling to break the resistance of 60$ with the active mass rebound in the market.