Charlie Lee, the founder of Litecoin (LTC), is getting down and dirty by responding to critics on Twitter who are saddened by the sudden drop of value of LTC from its glory days of above $340. This value of LTC was seen back in January when traders realized that LTC was the fastest means of ‘shooting’ funds across exchanges during the peak trading season of between December 2017 and February 2018. During this period BTC and ETH were faced by high transaction fees as well as congestion on their networks, making LTC the best option for transferring funds between exchanges.
LTC is currently trading at $84 which is a 75% decline from the peak value back in January. It is no wonder LTC HODLers keep blaming Charlie Lee for the decline in the price of LTC ever since he sold all his LTC holdings to concentrate more on the Litecoin Foundation and its operations.
In a tweet, Charlie Lee responded to the criticism as follows.
“I’m trying my best to get LTC to $400 so people like you will stop shitting on me all the time. Who abandoned LTC?!”
The full conversation can be seen below.
I’m trying my best to get LTC to $400 so people like you will stop shitting on me all the time. Who abandoned LTC?!
— Charlie Lee [LTC⚡] (@SatoshiLite) July 19, 2018
Looking at the recent progress of the Litecoin Foundation partnering with TokenPay and consequently acquiring a stake at Germany’s WEB Bank, the partnership between TokenPay and Litecoin will enable the former project to benefit in the following ways:
- TPAY Cryptocurrency
- eFin Decentralized Exchange (DEX)
- TokenSuisse Asset Management
- WEG Bank FinTech Platform
- Multisignature Transaction Engine
TokenPay’s decentralized exchange, eFin, will support both XVG and LTC base trading pairs further accelerating the visibility of the two digital assets as well as their adoption in trading. There is also talk of upcoming merchant services and debit cards powered by both Litecoin and the WEB Bank.
In conclusion, the Litecoin foundation and Charlie Lee are pushing more partnerships and use-case scenarios for the digital asset to further increase its utility and visibility in the crypto-verse. As a result, the much awaited $400 value of LTC will become a reality in the near future. There is also the added factor of a possible Bitcoin (BTC) Bull run that is ongoing. If this upward trend of BTC is confirmed, it will bring with it additional volume that will raise the value of our favorite digital assets such as LTC.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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