Litecoin Price Analysis: Could Litecoin Rise Anytime Soon?

Litecoin’s bearish trend continues as a large percentage of cryptos are doing poorly. The digital currency has recorded the worst dip in price within the past three days. Litecoin has presently hit a new low in trading value in recent times at $119.

LTC is slowly rising as it has appreciated by 1.95% in the last sixty minutes making sure that it maintains the $120 trade value. However, in the past day, the cryptocurrency has remained in the red zone and has dipped by 2.45%. It is currently being traded at $121.50.

Litecoin Market Cap

The market cap of Litecoin has dipped by over $1.5 billion in May. Litecoin’s market cap is estimated to be around $6.88 billion. It has become the sixth most successful digital currency in the market. Even though the cryptocurrency has been pushed down by the bearish market, it could still make a breakout soon.

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More Enterprises Adopting Litecoin Payment Options

More and more brands are incorporation the digital currency as a method of payment. The latest company to join the bandwagon is CheapAir, an online travel agency. The California based company issued a statement to the press and announced that it had integrated Litecoin as a payment option on its platform.

This makes CheapAir the first online agency to accept the digital currency as a payment option. Jeff Klee, the CEO stated that this integration was made in response to customer demands.

A few days before this statement, the digital currency announced their collaboration with TapJets, another aviation company. The company operates as a virtual assistant for customers who want to hire private planes with ease. It picked Litecoin as its payment option after considering and meeting with Litecoin, Ripple, and Verge. Both companies are working towards launching the payment option on June 1.

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Another collaboration was announced by Litecoin’s CEO, Charlie Lee between Litecoin and Alliant payment, a merchant services and credit card processing company.

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