The bearish nature of the cryptocurrency market is no news. The bulls have tried to gain control and formed an upside rally several times. However, these rallies are typically short-lived and cryptocurrencies are left bleeding out their gains. In the current bearish market, Litecoin (LTC) seems to be making some progress. Or, you can say it is not falling as fast as other cryptocurrencies are. Bitcoin has been trading in red for some days now. As expected, many altcoins are following suit. Stellar (XLM), however, is an exception as it is currently trading in green against the USD.
Litecoin Vs. The Market
Over the last seven days, Litecoin has been in the news. One of the latest news about Litecoin is the upgrade to Litecoin Core 0.17. The foundation announced that the upgraded Litecoin comes with lower network fees. The post by the Litecoin Foundation is as follows:
“On an average, each transaction fee on the network per KB is ~$0.05. Thanks to the upgrade, the fee per KB will reduce to $0.005. This is the same level it was in the year 2015. Officials within the organization said that there were enough empty blocks on the Litecoin blockchain and this was what gave them the power to reduce the fees.
Litecoin (LTC) Price Today – LTC / USD
A prominent jewelry seller, Marks Jewelers also gave Litecoin a much needed boost when it announced that they would now be accepting payments in LTC. The retail giant already accepts BTC, ETH, and BCH. The head of marketing at Marks Jewelers, Joshua Rubin had this to say: