Can the Increased Adoption of Litecoin Trigger a New Upward Movement in LTC?

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Crypto currency it is one of the first crypto currencies in its ecosystem Litecoin (LTC), which has exhibited rather weak price performances during the recent uptrend periods. While many new altcoins have recorded high value increases, LTC has not only recorded serious value increases, but has also declined significantly from the levels it was at in terms of market capitalization. Will LTC, which has not been able to perform the expected price performance during the recent uptrend periods, be able to make high value increases again with its increasing adoption?

LTC Adoption Is On the Rise

BitPay and Verifone, a Bitcoin service provider, LTC the adoption of Litecoin, especially the partnerships established to ensure the adoption of digital payments through Litecoin, has started to increase every day. In the midst of this increasing adoption, LTC’s in-chain activity has exploded with the increase in payments. In parallel, the number of LTC transactions has increased to over 140 thousand in the last few days, after falling close to the 100,000 mark at the beginning of October. This increase comes just a few days after the Litecoin Foundation tweeted about the launch of the LTC Visa Debit card powered by the fintech firm Unbanked.

Metrics, Giving Positive Signals

In addition, LTCthe USD trading volume of saw an increase of more than 60% and reached $ 2.51 billion on October 27. This number was 824.5 million on October 26, 2021.

In addition, according to the Litecoin Foundation, with the increasing institutional investments of Litecoin, LTC has reached more than 50 million traders worldwide. This was accompanied by a modest increase in LTC’s active addresses and new addresses.

Have Positive Developments Been Reflected in the Price?

Despite the fact that there are many positive developments besides the increasing Litecoin adoption, LTC has not been able to demonstrate its expected price performance. Although Litecoin exceeded the 200 dollar price levels in the middle of the week, it instantly touched the 180 dollar price levels by recording downward price movements again in a very short period of time.

In the meantime the post yazdilig LTC, It is trading at $192 price levels with a market capitalization of $13.2 billion, according to CoinMarketCap data.

The information contained in this article absolutely does not contain investment advice. Investors should know that crypto currencies have high volatility, so they carry risks, and they should conduct their transactions in accordance with their own research.

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