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Ethereum (ETH), Litecoin (LTC) –One day when cryptocurrency investors finally had positive news to applaud, the markets reacted with a wave of greenery and upheaval among the largest pieces of market capitalization.
Litecoin (LTC) led the way with a jump of thirty percent that day, bringing its price to more than $ 43 at the time of writing. If the coin has long been considered as Bitcoin's gold money, the creation of Charlie Lee has managed to exceed EOS will become the fourth largest market capitalization cryptocurrency. In addition to being a mainstay of the market, with higher transaction speeds and higher fees than Bitcoin, Litecoin is also sitting in the realm of oversold. In December 2017, in the midst of the uptrend that pushed cryptocurrency to a near-trillion dollar market cap, the Litecoin had skyrocketed to over $ 350 a piece. During the subsequent sale, LTC recorded one of the worst price declines of all cryptocurrencies, with most investors now considering the coin to be undervalued.
LTC also benefited from increased valuation due to a ad that the Litecoin Foundation had partnered with the Beam development company to incorporate a protocol that would improve privacy and scalability. The Litecoin Foundation, which has played an active role in promoting the currency – recently through the production of mixed martial arts Ultimate Fighting Championship and their partnership with the ring – has also made concerted efforts to improve technology through regular experiences and partnerships. The end result was a "test bed" for cryptocurrency, LTC being the first piece to implement innovations such as Segwit, the atomic swap and the Lightning network.
According to the Beam blog announcing the partnership with LTC, the new protocol aims to improve the privacy offered by LTC transactions,
"We have begun to explore the possibility of adding privacy and fungibility to Litecoin by enabling the conversion of a normal LTC into a LTC Mimblewimble variant and vice versa. During this conversion, it will be possible to deal with Mimblewimble LTC confidentially. "
Ethereum also recorded a surge in prices that day, surpbading the market and the top 10 currencies. Like Litecoin, Ethereum slid into oversold territory throughout the 2018 downtrend, giving ETHP investors the hope that the last round of price signals a sustainable valuation. Although the currency failed to supplant the XRP to the second position in total market capitalization, it narrowed the gap to $ 400 million. At the time of writing these lines, the ETH token had climbed 13% in twenty-four hours, bringing the Ethereum price to $ 118 and thus avoiding the construction of a critical line at $ 100. .
XRP and TRON also recorded significant gains that day, with respective increases of 6% and 5%. Bitcoin, which fell to its lowest level in 2019 during the last sale to the cryptocurrency, managed to climb to over $ 3,700. Some badysts now claim that cryptography markets are bouncing back to a system of systemic overselling, with the latest price developments returning to normal price levels.
Cryptocurrency investors have also been informed that the S.E.C will likely approve a Bitcoin ETF in the future, at least according to information from a leaked interview of SEC Commissioner Robert Jackson. Like before reported by EWN, Jackson said,
"Finally, do I think that someone will meet the standards we have established there? I hope so, yes, and I believe it … It is difficult to get the approval of the deepest and most liquid financial markets in the world, and that should be the case. Once we make it available to daily investors, we take the risk of hurting the Americans. "
With the approval of the ETF, cryptocurrency investors will finally receive their long-awaited influx of institutional money.
Image title courtesy of beatingbetting.co.uk
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