Litecoin (LTC) Prices Correct Higher Following the Recent Bullish Sentiments by Charlie Lee

After a week that saw the massive declines of most coins in the market, the market is in a better state. Yesterday, most of the digital currencies in the market were deep in the green. Litecoin (LTC), XRP (XRP), and Bitcoin (BTC) saw a slight increase in their values. This also contributed to an increase in their market caps.

Litecoin (LTC) Surges by Almost Three Percent in 24 Hours

Over the past 24 hours, the value of Litecoin (LTC) has seen an increase of about three percent. The recent price trend of the coin seems to be attributed to the reports made by BitMEX.

BitMEX reported that it is having some technical issues with its trading platform. BitMEX is a very popular digital currency trading platform in the crypto market. The trading platform also lets users operate with margin: allowing for something similar to “short trading” on the platform.

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Litecoin (LTC) is one of the most valuable and popular digital currencies. The value of the digital currency has been stable for some days. However, it has started a positive move. LTC started this month at the $61 mark, but it declined towards the $57 mark on the 4th of October.

The digital currency started its upward trend yesterday, and it is now trading in the green. The value of Litecoin (LTC) surged from $57 to $59.45 in just a couple of hours. Its market cap also followed suit.

Charlie Lee Educates the Community on the Difference between On-Chain LTC and BTC Payments

Recently, the founder of Litecoin (LTC) – Charlie Lee, was in the news. Lee was educating the crypto community on the difference between on-chain Bitcoin and Litecoin payments. Lee posted a series of tweets during his explanation, and one of his tweets states:

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”On-chain Bitcoin (BTC) and Litecoin (LTC) payments are not P2P. Transactions carried out by users are sent to miners, who record the transactions on a distributed ledger. The recipient only receives the payment after it is being recorded. However, this is facilitated by a peer-to-peer network where transactions are broadcasted.”

Bitcoin (BTC) and Lightning Network Reflects Satoshi’s Original Vision for Bitcoin (BTC)

In one of his tweets, he also talked about the vision of Satoshi. As earlier reported, Lee said that Bitcoin (BTC) together with the Lightning Network reflects the original vision of Satoshi. Satoshi’s whitepaper on Bitcoin (BTC) is dubbed “A P2P Electronic Cash System.” However, Charlie Lee said Bitcoin (BTC) has derailed from the vision of Satoshi. He added that the vision of Satoshi can be realized with Bitcoin (BTC) and the Lightning Network.

Litecoin (LTC) Price Today – LTC / USD

Name Price24H (%)
Litecoin (LTC)
$52.91
-1.18%

At the time of writing, Litecoin (LTC) is trading at $59.45 after an increase of about three percent over the past twenty-four hours. Over the past twenty-four hours, the trade volume of the digital currency is $353.75 million, and its current market cap is $3.46 billion.

Litecoin (LTC) Resistance Level

Litecoin (LTC) just broke over its key resistance level. The digital currency was capped at the $59 mark, however, it now faces a new hurdle on the upside. Litecoin (LTC) now faces another strong hurdle at the $61 and $62 levels. On the downside, its immediate support is at the $58 mark.


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