Litecoin (LTC) has generally been bearish with only February and April having a positive ROI from the crypto coin since 2018 began. However, this has not affected its appearance among the top 10 digital coins in market. LTC’s market cap is at $4.2 billion as of press date while its exchanging price against the US dollar stands at $73.63 according to coincheckup.
Crypto.com is the latest player within the cryptocurrency markets to take an interest on the Litecoin project. This is after the platform added LTC as one of the major trading pairs just like BTC, ETH and Crypto.com’s ‘MCO’.
LTC pairs listed on Crypto.com
So far, the MCO wallet App has been a great tool for crypto analysis and tracking of digital assets value. It is therefore expected that Litecoin (LTC) will largely benefit from this incorporation by gaining exposure to more users. Kris Marszalek, one of Crypto.com’s co-founders indicated that they are looking forward to scale options for users and LTC is a big boost,
“By listing Litecoin on the MCO Wallet App, we are deepening both the functionality of the app for users and transforming into a go-to, intuitive cryptocurrency exchange platform. Our support of Litecoin marks an essential step in this process as we strive to broaden the audience of cryptocurrency spenders and investors.”
Litecoin is quite optimistic with the partnership viewing it as an opportunity to expand its horizon within cryptocurrency services. LTC users may Crypto.com interesting because of its application and Meta visa card which will now be at their disposure. Charlie Lee, Litecoin’s creator was quoted in Crypto.com’s announcement,
In a quote released by Charlie Lee, the founder of Litecoin Foundation, he expressed the common vision shared by the two companies. He highlighted the need for adoption of LTC by merchants across the world to allow the ease of purchase using cryptocurrencies. “I’m excited to see Litecoin support added to the MCO Wallet App and the MCO Visa Card. We look forward to advancing the mission to expand cryptocurrency use together with Crypto.com”
LTC numbers in brief
The LTC coin has been bearish in the past 24 hours losing 0.61% in price. This downtrend broke its initial support level that seemed to have settled at the $77 level as of last week. However, given the altcoin’s volatility of 8.37% in the past week, it did not come as a surprise to keen crypto enthusiasts. LTC has been a great asset given its first trading price back in April 2013 was $4.30; the crypto coin has since hit an all-time high of $366.15 although its current price is 79% below this.
Litecoin’s growth rate in the past quarter and half year has been on the negative side. Its price range in the past 3 months is between $161 and $73 which gives a -22% monthly growth while the annual figure is -0.95%. We cannot yet conclude that the altcoin will be on a downtrend for the rest of Q3 and Q4 especially with the signs of a ranging market in the past fortnight!