Litecoin {LTC} sponsors Glory Kickboxing event, halving pressure builds as Charlie Lee speaks

Fibo Quantum

Litecoin is ranked at #4 on coinmarketcap. The price of LTC is at $98.80 according to the latest available data. LTC shrank by 1% in a span of the past 24-hours. The trading volume recorded is $3.672 billion. The total market cap of Litecoin is $6.200 billion. The circulating supply houses 62,754,612 LTC tokens as of now.

The partnership between Glory and Litecoin was revealed a few months ago. It seems that the Litecoin Foundation is speeding up adoption by employing sports as a tactic. Their deal with Miami Dolphins was covered extensively in the media. This also helped BTC and LTC gather pace.

The Litecoin halving will take place 15 days from now, according to the schedule. There was an AMA hosted by Chainnode, where Charlie Lee has talked in details about why he had sold his LTC in 2017.

Some call this move of Charlie’s a “smart” but a sneaky move, but Lee has been adamant that he was trying to make the most of the situation at hand, “Having been in this industry for 6 years at the time, I’ve seen multiple bear and bull markets…when I sold, I wasn’t thinking of timing the high. That was just luck. No one really knew and I didn’t know.”

Litecoin has been one of the best altcoins of this year. The price had once hovered near the $130 level back in June, now it has come down below $100. There was support found near the $96 level, but the coin is trading in the red zone as of this moment.

According to my analysis a slight pullback may be anticipated. Most people from the community believe that LTC will be nearing $200 after halvening strikes in August. This is not guaranteed, even though few miners will probably put a hold on their operations due to the rewards being halved.

About Glory:

Glory was established back in the year 2012. The organization is headquartered in Singapore, and has garnered thousands of fans in Asia and Europe since its inception. They have shown great interest towards Litecoin and cryptocurrencies in general. As they are a modern corporation too, this move has been commended by crypto-enthusiasts.

Watch the short video posted a day ago.