Litecoin (LTC), after LitePay and LitePal was one of the first to rebound and it will for sure be one of the first to return to the all-time high of $ 370 USD because these new payment processing services will allow even more merchants to accept LTC.
As proof of that, you can see that Litecoin (LTC), despite the current dip that we’re witnessing, is recording all-time highs in terms of hashrate and security. The fact that for example WooCommerce, one of the leaders in e-Commerce and owner of WordPress, has several plug-ins that allow merchants to receive payment on their business shows us that Litecoin is way ahead of the competition. You can check out Franklin Richards from the Litecoin Foundation tweet below:
Image 1 – Franklyn Richards Tweet – Source: https://twitter.com/MLPFrank/status/960542265390362624
LitePay and LitePal to bring the price up
LitePay will be launched later this week and LitePal later in 2018. LitePal is probably the most exciting one since according to their tandem they stated:
“LitePal is a Litecoin-first payment processor. We envision a cryptocurrency world where Litecoin is utilised by merchants from all over the world; one streamlined, simple, less confusing process. Thank you @SatoshiLite for creating the LTC we all love!”
Litecoin will benefit from all these new adopters, especially in terms of price since newcomers are usually the ones that drive the price up. When talking about new adopters we must look at the potential numbers, and LitePal promises to bring a lot of users to the Litecoin’s network, since it plans on providing service compatible with PayPal, Western Union and Bitcoin (BTC) also.
Aliant Payment Systems Integration
This American based provider of merchant services and payment processing, which some of you may already know, announced that it is now offering its users the ability to pay in Litecoin (LTC). They had previously been one of the first “old banking” systems that adopted blockchain technology since they had already added Bitcoin (BTC) and Ethereum (ETH) payments in the last two trimesters of 2017.
Aliant’s CEO Eric Brown made some exciting comments about Litecoin and cryptocurrency in general. He expressed his interest in the Lightning Network and the SegWit implementation, that Charlie Lee has forever been a dedicated supporter. Aliant also referenced that the increased number of tokens would enable Litecoin to be used for smaller purchases. You can check out one of the exciting comments from their CEO below:
“We expect Litecoin to emerge as a prominent everyday payment option. Pay with Litecoin at restaurants, bars, gas stations, coffee shops, and other places that you go regularly.”
Eric Brown, Aliant’s CEO
Now that the atomic swaps are developed between Bitcoin and Litecoin, with the addition of the Lighting Network, there is no reason for a merchant that accepts Bitcoin to not accept LTC as well.
Market Analysis
Litecoin (LTC) was one of the biggest winners in 2017 where gains of over 7500% pushed Litecoin several times into #4 in market cap. Some of the reasons behind it were that this coin is widely used to transfer tokens form exchange to exchange with the lowest fees possible.
When I say lowest fees possible I mean that in terms of adoption Litecoin is in fact #3 because almost every exchange trades Litecoin which makes it perfect with its low fees. A lot of people will throw the argument that Ripple (XRP) has the lowest fees, or Stellar (XLM) but still you can’t ignore that these tokens aren’t at the same stage of adoption as LTC.
The bull flag is about to get thrown, it is still unclear if the news coming from the United States about the SEC and the CFTC will have the impact to bring crypto to the next level. If it does, which I think it will, we’ll be able to see Litecoin reaching $ 1000 USD by as early as March.
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