Litecoin {LTC} and Bitcoin {LTC} usage shoots up in Zimbabwe to combat the regime

Fibo Quantum

Litecoin had breached the $100 mark for a while, but had failed to find support. Currently, the price of LTC is at $97.18 according to the latest data. The value grew by 4.85%. The trading volume recorded is $4.565 billion in the course of the past 24-hours.

The total market cap of Litecoin is $6.096 billion. The circulating supply has 62,729,087 LTC tokens as of this moment. The halving is scheduled to take place as the first week of August draws to a close.

Local trading involving foreign currencies has been banned in Zimbabwe. This had led to a growing black market, and had caused BTC to gain bullish pace in the market as well. Hyperinflation had impacted the nation almost a decade ago, and the citizens are still reeling due to the actions undertaken by inept leaders.

In 2018, the Reserve Bank of Zimbabwe had asked the financial organizations to stop dealing with cryptocurrencies. This is strikingly similar to the verdict given by the immature Reserve Bank of India. They still deny being involved in the planning of the “ban crypto” bill.

It has since been condemned by many across the globe. Even the representatives of RBZ have failed to appear in court. Golix exchange which is well-known in Zimbabwe challenged the callous ban implemented and had appealed in the High Court with regards to this matter.

A trending poll was conducted which had led to predictions that Litecoin {LTC} may reach $200 as the Litecoin halving hits and miners depart.

Bitcoin is growing steadily for now. The price of BTC is at $10,533. BTC jumped by 6.68%. The trading volume recorded is $24.635 billion. The total market cap of Bitcoin is $187.754 billion. The circulating supply comprises of 17,825,400 BTC tokens.

For new-coming buyers from Singapore who recently got introduced to Binance, LTC being near $80 was a boon prior the halving event. Those who have invested expect to profit after August, although a price climb is not a guaranteed move at all.