Litecoin (LTC), the 6th largest cryptocurrency by market capitalization is starting to build blocks for its consistent growth, due to the growth-initiating development it welcomed recently.
According to an update related by Alliant Payments; a credit card processing and merchant services provider, the digital token LTC has been assigned as means of payment for Miami Dolphins 50/50 raffle tickets. This is seen as a welcoming development as lite coin clocks 8 today.
Recent Ordeals within Litecoin (LTC) Ecosystem
Since the much talked about Litecoin (LTC) halving was conducted in early August, there has not been any tangible increase in the price of the digital currency, apart from the short-lived upsurge it enjoyed as soon as the halving was concluded.
Litecoin Foundation has not been hit with less deficiency either. The recently rumored financial crisis the Foundation faces has attracted a huge impression from Litecoin community members and the cryptocurrency enthusiasts as a whole.
Howbeit, the Litecoin Co-founder, Xinxi Wang, has acknowledged the presence of the rumored financial crisis, claiming that the Foundation will sustain the trying time, as ground work is ongoing to tackle the menace, in order to get back on track as always.
Looking at the ranking in the cryptocurrency market, Litecoin has also lost the forth place it was occupying few months ago in quick succession, giving way for Tether (USDT) and Bitcoin Cash (BCH) to occupy forth and fifth positions respectively.
At the time of filing this report, Litecoin (LTC) is trading at $57.52, with relatively 3% price upsurge in the last 24 hours. This shows that hope is not lost for the digital token forked from Bitcoin. It could still come to reclaim its lost grounds, if it could maintain the present price uptrend.
Litecoin Assigned As Means of Payment by Miami Dolphins
Litecoin (LTC) has just got an open door which would serve as consolation to its ever supportive community of members. It has clinched a fresh means of enhancing its reach and functionality, especially in the sporting world.
The creator of Litecoin (LTC), Charlie Lee was seen a number of times in the company of people related to Miami Dolphins, a popular United States Football Club.
A couple of weeks ago, Lee was sighted in the stadium, cheering the players in one of the club’s games, owing to the support which the club has for the digital token, Litecoin. Back then, the logo of LTC was shown to the watching world via the stadium’s screen.
Recently, the effort of the CEO paid off after Alliant Payments announced that the digital currency has been assigned as a means of payment for Miami Dolphins 50/50 Raffle Tickets. This can be directly accessed by visiting dolphins5050.com.
— Aliant Payments (@AliantPayment) October 12, 2019
The above development has indeed come at the right time. Litecoin (LTC) is one of the digital coins that have been in existence for quite a long time, just as soon as Bitcoin, the pacemaker was created.
Charlie Lee recently displayed his excitement on Twitter, as today happens to make the 8th year since the digital currency has been in existence.
The founder happily shared the successes which the cryptographic project had recorded over the years. He also pointed out that Litecoin network has been up and running since inception with zero downtime.
Happy 8th birthday to Litecoin! 🎉
Litecoin network has been up and running continuously for the past 8 years with zero downtime. And in that span of time, over $500,000,000,000 worth of LTC have been transacted. 😮
Looking forward to the next 8 years and more! 🚀 pic.twitter.com/ItcDWrdCf1
— Charlie Lee [LTC⚡] (@SatoshiLite) October 13, 2019
Litecoin Network Still Records Outstanding Performances
There are still indications of better future for Litecoin (LTC) and its ecosystem. Three weeks ago, Litecoin network attained its 2019 high in terms of transaction volume.
This shows there is continuous flow in activities on the network, which could be termed as green light for possible turnaround eventually. The last 2019 transaction high it recorded before this recent one was in 22nd June, when 47,962 Trx were carried out.