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Litecoin Releases New Core Version, Fights for Wider Adoption


The Litecoin project has updated its core version, and is preparing for release following a community revision of the code. Litecoin is also struggling to recover its previously high prices, as it still hovers below $150.

In the past weeks, the Litecoin and Charlie Lee has held investors up with promises of news coming soon. However, the expectation did not bar Litecoin from dropping sharply, along with the rest of the market. At the moment, Litecoin trades at rather robust positions against Bitcoin, and has kept those levels for months.

The spike of popularity of Litecoin came in the spring of 2017, when the asset was added to Coinbase. Some accused Charlie Lee of undue pressure pushing his coin on the most popular exchange service. Yet Litecoin has continued to grow gradually and has served well as a means of payment, due to a fast network that still handles transactions with relatively low fees.

Now, Litecoin also shows strength on being added to payment processing services:

The Litecoin price pressures, however, come mostly from the OKEx exchange, taking in Asian investors. And while the asset is popular in the US and Europe, the Asian markets still serve to guide the price. Because of this, the price of Litecoin has at some points defied the price of BTC, where dollar-based trading goes with a different logic.

The Litecoin Foundation also does its share of popularizing Litecoin, focusing on the spending side, to position the asset as a means of payment.

The trend may help to bring attention to Litecoin. However, there is no telling if this would help to boost the market price. And while Bitcoin owners are currently protecting their coins, and not moving them, for Litecoin, the message it is a spendable asset remains stronger.

Litecoin has seen rapid appreciation, but it makes no claims of being primarily a reserve currency or a store of value. However, spending the coin may be a way for reaching a greater popularity. Currently, spending digital assets has not seen any regulatory crackdown, while trading for profit has been the target of tax authorities and other market overseers.

If hashing power is an indicator of success, then the Litecoin network is also growing at a rapid pace, as more miners secure the network.

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