Litecoin received a boost ahead of other altcoins as headlines revealed that South Korean exchange Coinone now offers Litecoin. It was welcomed with open arms, as over 3.6 billion KRW ($3.2 million USD) worth exchanged hands on the platform in the first 24 hours.
South Korea has long been a leader in digital currencies, showing particularly keen support for Ethereum and Ripple, and now Litecoin. On several occasions South Korea has singlehandedly sculpted patterns in these currencies as the country responded to news with fierce volume. This occasion was no exception. Litecoin appreciated nearly 17% hours after trading live on Coinone and following the announcement.
The Way Forward for Litecoin
Litecoin has a bright future. It also has an impressive history and a solid fundamental foundation. It has never been hard forked, and for good reason. Hard forks have been unnecessary because consensus has been reached for every upgrade, and the community has been happy with Litecoin’s directional progress. It is both Lightning and Segregated Witness (Segwit) enabled, which qualifies it one echelon above bitcoin. It is indisputably faster, more nimble, and more scalable than bitcoin as it stands, and it is arguably the most stable digital currency on the market. With the exception of July 2017 and Sept 2017, LTC has set higher monthly highs sustained by higher lows each and every month over the past year, rising over 1500% in the process.Among experts it is believed to be a sleeping giant, and the chart above seems to support that theory. Litecoin carries low risk compared to BTC and other altcoins based on its healthy growth and fundamental advantages over its competitors. This underdog, commonly labelled “digital silver”, may soon undergo digital alchemization as it escapes bitcoin’s shadow.
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