Litecoin (LTC) soars 25.06% on February 14-15

Litecoin is falling after its first hard fork was announced

There are now 55,212,158 Litecoins in circulation. This should prevent any major issues with block times on the Litecoin Cash network. It had high of $184.14 and low of $152.86 for February 13-14.

The catalyst for the latest rise was a congressional hearing in the U.S., where two financial regulators - the CFTC and the SEC - said they would take a "do no harm approach" to the crypto market, while monitoring initial coin offerings (ICOs) more closely. This is the first time the digital asset has shown solid gains in just under two months. According to the report, the banking company looks forward to introduce Litepay, a payment system compatible with Visa credit cards.

"I have always thought of Litecoin as a sleeping giant", said David Motta, Internet entrepreneur, investor, and CEO of business consulting firm, ACQURE Business Solutions, speaking to Ethereum World News.

Coinbase, the leading USA marketplace for major cryptocurrencies, also announced on Wednesday that it has launched a new service that lets merchants accept bitcoin, bitcoin cash, ethereum and litecoin payments.

The cryptocurrency's dramatic price increase has largely been driven by the announcement that LitePay - an instantaneous payment processor allowing vendors to instantly convert Litecoin transactions into fiat currency - will launch on February 28th.

The fork is scheduled to take place on Sunday and will award Litecoin holders free Litecoin Cash.

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Litecoin Cash has announced that the countdown has begun towards the release of a new cryptocurrency that will be born from a hard fork of Litecoin (LCC). There is a catch though which has raised concerns of a scam and drawn criticism from Litecoin founder Charlie Lee. Litecoin Cash will also support SegWit and the Lightning Network, which is rather interesting.

Compared to Litecoin itself, the new fork features superior mining difficulty retargeting, via the proven DarkGravity algorithm used by Dash.

In fact, one prominent leader in the Litecoin community has called any fork of LTC a scam.

A private key that holds currency should never be pasted into any website or wallet application in order to claim forked coins, and the team encourages users to move their Litecoin to a completely new address after the fork, before using the private key from the "old" address to claim their Litecoin Cash. Be careful out there!

The surge in Litecoin price today sees it become the fifth largest cryptocurrency by market cap, according to CoinMarketCap. 200 days ago LTC traded at $41.07.

The post Litecoin Lifted on LitePay and Upcoming Litecoin Cash Fork appeared first on NewsBTC.

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