LITECOIN took a battering last night as it dropped more than 10 percent of its value in just a few hours amid a market-wide crypt-crash. What is the current value of Litecoin and is LTC DEAD?
LTC price didn’t recover much past $140 against the US dollar as prices for crypto-coins continues to fall.
Litecoin was one of the heaviest losers of the crash, dropping to $122.47 a coin and losing 10.77 percent, at the time of writing.
The bearish trend continues to ravage the market and it appears that it could be possible that Litecoin could even test the $110 level.
News continues to pound the cryptocurrency markets stifling attempts to a recovery. The news of the Binance exchange being hacked and the SEC has requested trading platforms dealing with digital assets to register as exchanges.
Later, Binance reported that the irregular trades were reversed. They also had an interesting observation stating that the hackers had lost a few coins during their attempted hack.
The possible SEC’s regulation is a much-debated issue with both sides having their own opinion about its pros and cons. But regulations have also proven positive for cryptocurrencies, attracting institutional money, which has stayed away from the markets until now.
In another news, the Japanese regulators have come down heavily on Coincheck and six other exchanges. Bogged down by these news, most cryptocurrencies are struggling to hold on to their support levels.
Let’s see if the downside is likely to extend or is a bottom around the corner.
Ask anyone where they go to compare cryptocurrency valuations and straight as a flash they’ll reply “Coinmarketcap” (CMC). It is by far the dominant price checking site in the cryptosphere, with Alexa making it the 44th most popular site in the US. For all its might, over-reliance on a centralized data repository has its drawbacks, and goes against the very principles of the decentralized ecosystem. The following crypto comparison sites provide viable alternatives to CMC.
Also read: Microsoft Has Stopped Accepting Bitcoin Deposits
Price Check Sites to Check
8 Alternatives to CoinmarketcapYesterday, the crypto markets dipped, with their movement partially attributed to Coinmarketcap changing the way it calculates the market capitalization of cryptocurrencies. This revision “wiped” $120 billion off CMC’s valuation of the crypto market, causing some sellers to think the markets were in a greater slump than they actually were. The incident illustrates the drawbacks of being dependant upon a single data source.
After the clampdown in China and South Korea to cryptocurrency trading, there were fears that the US will also follow suit.
However, the testimony of Jay Clayton, chairman of the Securities and Exchange Commission (SEC) and Christopher Giancarlo, chairman of the Commodity Futures Trading Commission (CFTC) has allayed these fears.
They were much more realistic and supportive of cryptocurrencies than what the market had expected. As a result, most cryptocurrencies are currently in a sharp pullback, after days of weakness.
Even after the recent plunge, some analysts believe that the cryptocurrencies will enter into a strong bull market that is forecast to be at least as strong as 2017.
Let’s see if we can find signs of bullishness in the top cryptocurrencies by market capitalization.
I am proud to announce the arrival of the first Litecoin magazine. We will cover all Litecoin and Litecoin related topics. Each edition of the magazine will include an editorial, news brief and high quality content supplied by the Litecoin community.
Increase awareness and educate aboute Litecoin
Introduce bold new ideas to the community
Provide an overview of the development of Litecoin
The first magazine will be released on Friday 2 February and will be distributed in a high quality PDF suitable for printing. We will also supply a lower quality PDF and later post all content here on Medium. This first release is targeted at readers that are already familiar with Litecoin, but the theme for the February edition is to educate the general public about Litecoin. If you would like to write for the February edition please contact TheSilverBull
Litecoin has struggled after posting a tremendous rally in early December.
Litecoin has some advantages including being fast and well-known.
On the other hand, Litecoin is a first-generation coin with dated technology.
We feel that Litecoin is a safe bet, but that it may not have the highest returns in 2018.
Many of you have written to us to request an article covering Litecoin, which shows that there is much interest and demand out there for this cryptocurrency. It is not surprising that Litecoin has garnered this much attention. It has been around since the beginning stages of the crypto market, being introduced in 2011. For much of its history, Litecoin has been (a distant) second to Bitcoin (COIN, OTCQX:GBTC) in terms of market cap and name recognition. It is a credit to Litecoin and its following that Litecoin is still around and prospering as a top 10 coin.
South Korean financial authorities said Sunday that cryptocurrency investors must change anonymous virtual accounts to ones attached to their identity or face penalties.
The unnamed authorities said that cryptocurrency investors and traders will be allowed to convert their virtual accounts to real-name accounts before the end of January, but if this is not done, they will be fined, according to a Yonhap News report.
The amount of the penalty has not yet been finalized, the report indicates.
The news was announced as Korean banks move to phase out anonymous virtual currency accounts in line with the government’s stated plan to calm what it perceives as an overheated cryptocurrency market.
South Korea’s government said on Thursday it plans to ban cryptocurrency trading, sending bitcoin prices plummeting and throwing the virtual coin market into turmoil as the nation’s police and tax authorities raided local exchanges on alleged tax evasion.
CThe clampdown in South Korea, a crucial source of global demand for cryptocurrency, came as policymakers around the world struggled to regulate an asset whose value has skyrocketed over the last year.
Justice minister Park Sang-ki said the government was preparing a bill to ban trading of the virtual currency on domestic exchanges.