Charlie Lee Holds The Lightning Torch While Satoshis Worth $4.2 Million

The price trend of cryptos last year was very poor. However, many of them were able to survive. Bitcoin (BTC), which is the largest crypto by market cap, plunged by more than 80 percent. However, the digital currency still maintained its position. There were lots of Bitcoin price predictions, waiting for a little bitcoin bull run or crypto bull to ignite it. However, that failed to happen, but many digital asset investors are still banking on the bullish Bitcoin price prediction 2019, as a Bitcoin bull run is very close.

Another digital currency that has remained very strong in the crypto space is Litecoin (LTC). Litecoin is one of the most outstanding blockchain projects in the blockchain space. However, its value was also affected by the crypto winter. Will Litecoin recover – will Litecoin go back up? With the forthcoming Litecoin halving and Litecoin summit, chances are the value of the coin might surge significantly. Litecoin is also backed by a very strong community and its creator.

Litecoin (LTC) News-@SatoshiLite

The Managing Director and Creator of Litecoin (LTC) – Charlie Lee – has been at the forefront of the development of the coin. Recently, Lee became the figure to hold the Lightning torch in the digital currency space. This development came to light via the official Twitter handle of Litecoin.com. The tweet of the firm states:

“Litecoin creator @SatoshiLite takes the Lightning Torch.”

The post by the firm also highlighted that the chain had amassed Satoshis worth $4.2 million and the torch had been handed over to the CEO of Abra – Bill Barhydt. Lightning Network is the second-layer scaling protocol of Bitcoin, and it gained enough traction after the experiment of the Lightning Torch.

The Previous Holder of the Lightning Torch

According to the post, 10k Satoshis was added to every link in the experiment to show the value which can be transferred off-chain. A lot of famous personals in the crypto space were part of the experiment. The likes of Jack Dorsey, the CEO of Twitter, Elizabeth Stark of Lightning labs, the CEO of Binance Changpeng Zhao, Anthony Pompliano and others, had previously held the torch.

The #LNTrustChain hashtag started trending on Twitter to enhance communication in the community of Litecoin involved in the experiment. The whole trend started with a tweet from @Hodlonaut. The tweet of @Hodlonaut stated:

”Some Lightning Network fun. I sent 100k Satoshis with tippin.me to the first person I choose to trust that replies to this. That person adds 10k sats and sends 110k to someone either from a reply to a new tweet, or this trend and so on. How many sats before it breaks?”

Litecoin (LTC) Price Today – LTC / USD

Name Price
litecoin
Litecoin
$74.382.50%

Litecoin halving is by the corner. Many believe that this halving will result in a Litecoin bull run or crypto bull run. If this happens, then the bullish Litecoin predictions 2019 might come to pass. At the press time, Litecoin price is $60 after a decrease of less than two percent over the past twenty-four hours. The current market cap of LTC is $3.66 billion and its trade volume over the past day is $1.55 billion.

Litecoin (LTC) Close to Its All-Time High Hash Rate

According to Ambcrypto; Jason A.Williams, Co-founder of Morgan Creek Digital, recently shared a post on Twitter which predicted that Litecoin’s price could rise to $650 by May 2019. The price prediction was given out by the notable crypto-analyst, @ScienceGuy9489.

Another speculated reason for the increased hash rate is the upcoming Litecoin [LTC] halving in August. As the date for the halving approaches, investor interest in Litecoin could undergo a major spike as they would try to move their capital into the LTC market to acquire potential gains. This could eventually lead to a prominent Litecoin [LTC] bull run.

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Carolyn Coley is a blockchain reporter. She joined Smartereum after graduating from UC Berkeley in 2018.

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