Litecoin is approaching its seven-year anniversary, however, the celebration is somewhat tainted by the coins recent decline.
Over the last week, litecoin has been experiencing some turbulence, despite the fact that Amazon gift cards can now be purchased with litecoin.
I just bought an Amazon gift card using LN on Litecoin. The payment went through instantly and I got the gift card right away. Good job on the great user experience @bitrefill! đź‘Ź #PayWithLitecoin #PayWithLightninghttps://t.co/dJYLksVVCD
— Charlie Lee [LTC⚡] (@SatoshiLite) October 3, 2018
The good news for litecoin does not end there, as the crypto is to be soon listed on the Winklevoss brothers crypto exchange Gemini, which recently celebrated its third birthday.
LIVE from the @LTCFoundation Litecoin Summit, "We are pleased to announce Gemini will be launching Litecoin support starting October 13th, 2018!” -@eric_winer #LTCSF18 #tothemoon pic.twitter.com/TqTjJjk7q4
— Gemini (@GeminiTrust) September 14, 2018
On a humorous note, the Reddit community is quite skeptical of a recent track by the rapper Soulja Boy called bitcoin, where he gives a shoutout to litecoin at the very end of his track: “I’ve got litecoin.” Some Reddit users believe this to be the “exact opposite of what crypto needs” and that this is“nothing to be proud of,” however one Reddit user has the opinion that "any publicity is good publicity."
Rounding up with some positive news, the blockchain loan company SALT has included litecoin to be used as collateral.
SALT announces #Litecoin as collateral, offers USD loans with interest rates as low as 5.99% for loans below $75,000, and as low as 11.99% for loans up to $25MM. Now no maximum cap on loan amount. Loan terms vary by jurisdiction. https://t.co/MgvPHizZrN
— SALT (@SaltLending) October 4, 2018
WHY IS IT IMPORTANT?
- There seems to be quite a lot of activity around litecoin lately, however its price has been consistently falling. Could this be the calm before the storm? Since all the activity indicate that the price of the crypto should grow.