A considerable amount of the crypto ecosystem should already be familiar with Litecoin’s campaign for mass adoption; PayWithLiteCoin. The goal of PayWithLiteCoin is to make LLTC an acceptable payment option everywhere money is accepted.
The campaign has slowly been gaining attention, which is good for the Litecoin Network. Yesterday, Gabriel Francisco of TMT Blockchain Fund told Express.co.uk that Litecoin will be one of the first cryptocurrencies to gain mainstream adoption. According to Francisco, Litecoin’s superior payment system will lead the way for mainstream adoption.
From Francisco’s perspective, Bitcoin will continue to be used as a store of value for investors while Litecoin will lead the way for cryptocurrencies to be used in stores. Luke Shipley of R_Block is also of the opinion that Litecoin will moon soon with its campaign PayWithLiteCoin in place.
A couple of days ago, Litecoin Foundation launched a website to support the PayWithLiteCoin Movement, Paywithlitecoin.co. The new website is a platform created by the development team at Litecoin Foundation to help people and businesses around the world accept Litecoin (LTC).
Litecoin (LTC) is Now Legal in Thailand
The battle between governments and digital assets is a long standing one, while some countries are totally veering away from cryptocurrencies, others are setting up regulatory bodies (mostly known as Securities and Exchange Commissions – SEC) Thailand is one of such countries.
On the 14th of May, 2018 Thailand’s announced a regulatory framework for initial coin offerings (ICO) and cryptocurrencies to function in the country. The Bangkok post has reported that Thailand’s SEC will allow seven cryptocurrencies to be traded, exchanged, used for ICOs in the country.
Litecoin (LTC) is one of seven cryptocurrencies legalized by Thailand’s SEC, the others include Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Ripple (XRP), and Stellar (XLM). According to the PR, all listed cryptocurrencies are expected within 90 days from the effective date, and must be approved by the Finance Ministry to function in the country.
Price and Market Performance of Litecoin (LTC)
The cryptocurrency market is currently experiencing one of its most turbulent times since inception. The frequency of the bearish trend has seemed to cease the inclination in the value of digital assets, and has seen majority of the market shed a considerable portion of its market capitalization.
When Litecoin (LTC) broke the $122 trend line a couple of days ago, the Litecoin Community expected a bullish outbreak, but the bears hit back in time to avert the expectation. As at the time of this writing, an estimate 83% of the entire crypto market is trading in the red, which includes Litecoin.
Litecoin (LTC) is trading at $113.92 after declining by 4.67% over the last 24 hours. Litecoin (LTC) is now ranked as the 6th largest cryptocurrency with an estimated market cap of $6.484 billion USD, after shedding over $500 of its market cap in the last week. LTC’s faltering prices has in no way affected the effectiveness and progress of the Project.