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Ever since the litecoin developers implemented SegWit signaling, things have been progressing at an accelerated pace. Even though activating Segregated Witness requires 75% network consensus, it appears things are much closer where litecoin is concerned. As of right now, 59% of network blocks signal SegWit, which is quite an improvement compared to a few days ago.

Litecoin SegWit Signaling is Picking Up Speed

It is interesting to see popular altcoins do what bitcoin fails to achieve so far. The introduction of Segregated Witness signaling for bitcoin has been met with a bit of criticism and lots of agitation. Albeit the economic majority want is nothing to do with Bitcoin Unlimited, the mining pools clearly favor this bitcoin fork. It is evident coming to a conclusion and resolution will not happen anytime soon, unless the UASF takes place.

Over in the litecoin world, things are progressing at a more steady pace by the look of things. As of right now, 59% of all network blocks signal the activation of Segregated Witness, which is a lot higher compared to the support bitcoin has in this regard. Ever since one of the largest litecoin mining pools started signaling SegWit, things have started picking up for litecoin. it will be interesting to see if this trend can be sustained over the next few days and weeks.

Keeping in mind how Litecoin SegWit activation requires “just” 75% network consensus, It is obvious this solution has a very real chance of activating over the next few weeks. After all, 75% consensus makes a lot more sense compared to requiring 95%, which is what the bitcoin developers have proposed. If SegWit were to activate on the litecoin network, it will be interesting to see what this means for the future of this popular altcoin.

Moreover, the litecoin price seems to be doing quite well as of late. Ever since the improved SegWit signaling statistics became evident, Chinese investors have been pushing up the LTC price once again. After a few weeks of hovering around the 0.04 BTC mark, litecoin is now sitting around the 0.0065 mark without any issues. At the same time, the bitcoin value continued to climb, indicating litecoin is preparing for another bull run and increase its value once SegWit activates.

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About JP Buntinx

JP is a freelance copywriter and SEO writer who is passionate about various topics. The majority of his work focuses on Bitcoin, blockchain, and financial technology. He is contributing to major news sites all over the world, including NewsBTC, The Merkle, Samsung Insights, and TransferGo.

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