Litecoin (LTC) became the top earner of the top 65 cryptocurrencies last week, after growing by over 21.50%, according to CoinMarketCap. Thanks to this, the crypto currency rose to 8th place in the market and managed to surpass Polkadot (DOT). This was a move that came after a very positive week on behalf of cryptocurrencies, including PayPal’s announcement to support cryptocurrencies.
Litecoin Becomes Market Leader
Litecoin has become the market leader in the past few days as it has managed to record the biggest gains in the last 7 days among the top 65 cryptocurrencies in the world. This comes after Litecoin was chosen to be supported by PayPal in the new crypto solution.
A few days ago, PayPal announced that from 2021 its customers will be able to use Bitcoin (BTC), Litecoin (LTC), Bitcoin Cash (BCH) and Ethereum (ETH) on their payment platform. This way, millions of traders will have the ability to buy, hold and sell cryptocurrencies worldwide.
In addition, Litecoin developers continue to work on the MimbleWimble app, which is expected to help LTC become the world’s largest cryptocurrency with its privacy features. This app will also allow Litecoin holders to send and receive LTC, which protects their privacy and makes each coin exchangeable.
In the future, this could be added to Bitcoin if the implementation goes as planned. However, before this happens, LTC must demonstrate that the solution is useful and is working properly.
LTC Has Left Behind The Last Year
Litecoin fell behind other virtual currencies in the cryptocurrency market last year. Therefore, it is very important that the 8th largest cryptocurrency continues in this positive trend.
In terms of BTC, Litecoin, Bitcoin, and the cryptocurrency market is at its lowest point since March 2017 before recording huge gains and entering a new bull market. Now, Litecoin has a price of $ 57.64 per coin and a market valuation of $ 3.8 billion. In terms of BTC, the price of LTC reached 0.00427 BTC per LTC.
Litecoin’s future is definitely positive and the market knows it. Litecoin is one of the most widely accepted cryptocurrencies in the world, along with Bitcoin and Ethereum. Moreover, Litecoin has been added to several fiat ramp platforms, which means users and investors have easy access to this digital asset.