Litecoin (LTC) Technical Analysis: “Flappening” and Lightning Network Launch Carries LTC Towards $30
Cryptovest
Published Dec 17, 2018 11:02AM ET
Updated Dec 17, 2018 12:21PM ET
Litecoin (LTC) Technical Analysis: “Flappening” and Lightning Network Launch Carries LTC Towards $30
It turns out Charlie Lee was right again, as Litecoin has finally overtaken Bitcoin Cash by market capital after the hard-forked Bitcoin project extends its losses.
On February 25, 2018, Litecoin Founder Charlie Lee tweeted that a flippening between ETH and BTC will never happen, but predicted that a ‘flappening’ between BCH and LTC would definitely happen sometime this year. At the time, Litecoin was trailing behind Bitcoin Cash by nearly $9 billion in market capital but nevertheless dwarfed BCH daily trading volume by nearly 2x.
On December 14, this forecasted ‘flappening’ finally happened at around the $1.4 billion mark, as Litecoin pulled ahead into #7 position on the CMC listing. Not only is LTC now $163 million clear of BCH today, but this has also meant that Bitcoin Cash is now only $137 million ahead of its main market nemesis, Bitcoin SV.
Further news today from Coingate has helped continue driving new bullish support towards the Litecoin project, as the payment gateway platform announced that the Litecoin Lightning Network is ready to be deployed, and should go live soon. This is a huge milestone achievement for Litecoin, as users will now be able to make LTC payments across 1,000 new LN merchants.
Is this the turn around point for Litecoin, and will LTC be able to hold on to its new position above Bitcoin Cash? Let’s...
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