Litecoin News Today – Litecoin and Cardano Could Work Together – July 8th, 2020 

  • Litecoin and Cardano could work together
  • Cardano’s founder has expressed his desire to work with LTC founder Charlie Lee
  • Litecoin has had a positive week so far

Litecoin news today – The idea of two top guns in the cryptocurrency ecosystem working together is usually a big deal. And who says two top projects can’t work to make each other better to the benefit of the digital asset space. No wonder talks of a collaboration between two Blockchain projects Litecoin and Cardano could be something positive in the sector. According to reports, Cardano founder Charles Hoskinson has expressed his desire to work with Litecoin’s creator Charlie Lee. Hoskinson said he wouldn’t mind working with Lee on test cross-chain communication. The Cardano founder made the comments in a July 7, tweet:

“It will be a good idea to do something together.”

Litecoin News Today – Working Together Will be Good as Both Men Founded Industry Giants

Hoskinson and Lee both founded industry giants. The latter’s project Cardano is just one level above Litecoin in number seven on the list of the largest cryptos by market cap. The two offerings both hold figurehead positions in the Blockchain industry. Hoskinson said:

“The idea of testing cross-chain communication between Cardano and Litecoin isn’t a bad idea. Both projects have many ideas to put together.”

On the list of the ten most important individuals in the digital currency sector, both men (Lee and Hoskinson) hold good positions. According to the list which is endorsed by Cointelegraph, Lee holds the number 13 position. Meanwhile, his colleague, Hoskinson is the number 39 most influential individual in the digital asset and Blockchain industry. Whether this desire to work together will be a reality or not remains to be seen. We can only wait to see what happens in the future.

Litecoin LTC Price Prediction – Litecoin’s Price Has Had A Better Start

The price of Litecoin has had a better start today. The coins’ price moved above the 50-day SMA. This was the first time since June 11 that LTC has achieved this. At press time, the LTC/USD pair is changing hands at $43.50. The digital asset gained 2% on a day-to-day basis. Currently, the total sum of LTC in circulation has reached $2.8 billion. The digital asset also had an average 24-hour trading volume of $1.7 billion. Looking at the intraday charts, the LTC/USD pair has formed a head-and-shoulders trend which is a precursor to a downside correction. If Litecoin’s price moves beneath the neckline of $43.40, the bear momentum might gain traction and the next focus would be $42.60. This support area is reinforced by the 50-day SMA via the 1-hour time frame. After this area is out of the way, Litecoin’s ongoing sell-off will continue to the 100-day SMA on the 1-hour chart at $42.00.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.


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