XRP Price Prediction: Will XRP Break $0.35 Resistance? No Silver Lining in the Cloud Is Found
XRP Price Prediction: Will XRP Break $0.35 Resistance? No Silver Lining in the Cloud Is Found

Litecoin News - Litecoin Becomes First Cryptocurrency to Sponsor UFC Event

  • Alex Morris
    📰 News

    Will the eighth biggest currency fight its way to the top after being displayed on the world-famous Octagon canvas?

Litecoin Becomes First Cryptocurrency to Sponsor UFC Event
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Litecoin CEO Charlie Lee has just announced that the cryptocurrency will be the official sponsor of the upcoming UFC 232 event (expected to take place on Dec. 30). Thus, UFC becomes the latest in a string of big-name brands that embraced Litecoin this year.

Entering the UFC’s Octagon

Recently, U.Today reported that the lack of real-world adoption is seen as a major Litecoin problem by Lee (not his infamous sell-off that preceded a 91 percent rout), and the computer-scientist-turned-crypto-mogul pledged to fix it. Now, Lee’s putting money where his mouth is by scoring a major partnership with UFC, the biggest martial arts company in the world.

👉MUST READ Litecoin Price Prediction: LTC Price Spikes 10 Percent

A milestone has been reached

This is a huge achievement for the whole cryptocurrency industry since not a single coin has sponsored the event before. The much-anticipated fight between UFC heavyweights Jon Jones and Alexander Gustafsson will captivate the attention of millions of sports fans around the globe. Meanwhile, the Litecoin logo is being displayed on the Octagon canvas.

In its recent blog post, the Litecoin Foundation also states that this sponsorship will ‘hopefully’ be a stepping stone to their cooperation with UFC.

Spread the word

Crypto Twitter was mostly ecstatic about the news, claiming that it’s amazing exposure for Litecoin, the eighth biggest currency by market capitalization. Some users even went as far as predicting the results of the upcoming event.

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Litecoin News - LTC Price Predicted to Keep Rising After Sparking Crypto Spring — Five Positives from Litecoin

  • Jack Thomas
    🤷 Opinions

    🌱☀️Litecoin has been one of the best performing cryptocurrency assets in the first quarter of 2019, and there are a few reasons why it is boosting the crypto spring. From its impressive mainstream adoption, and with its speedy and cheap transactions, as well as added privacy and impending halvening, the price of LTC is set to do well

LTC Price Predicted to Keep Rising After Sparking Crypto Spring — Five Positives from Litecoin
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It would be wrong to call the cryptocurrency bear market over – the same low-performing market that has lasted well over a year now – however, there certainly is a change in the air. Bitcoin is over $4,000 and other altcoins have flexed their muscles, but none more so than Litecoin.

Litecoin, the fourth-biggest coin, which is currently trading at $60.52, has doubled its value in the first quarter of 2019, having started the year at $30.29. This coin, dubbed the silver to Bitcoin’s gold, has made some significant strides heading into the cryptocurrency spring.

The cryptocurrency spring, which is seeing prices in the market slowly come right and rally again, may have well been helped get off the ground thanks to Litecoin’s good performance through these first three months.

Many have dubbed this crypto spring as the beginning of altcoin season, and with that, there have been some big boosts from the top 20 altcoins that have aided in bringing positive sentiment to the market – none more so than Litecoin.

Reasons for the boom

Litecoin has always been in the shadow of Bitcoin, but it was created to be something different, much more of a cash system. It is this direction that is starting to be evident with Litecoin’s movement as the coin looks to forge ahead.

Reasons for the boom

One big boost for Litecoin has been its mainstream adoption that has picked up significantly with the goal of the coin’s team to get the cryptocurrency into payment systems. For example, Bob Moore Auto Group has signed on with Aliant Payment to accept Litecoin at their dealerships, starting with an Oklahoma City location. This means customers can buy a Subaru with LTC.

Additionally, Litecoin has always been about having fast transaction times as well as low fees in order for it to be usable as a digital cash, and the way things are going currently, it is hitting those attractive targets.

For instance, a November 2018 transaction worth $62 million only cost the sender $0.50 in fees on the Litecoin network. And with these low fees teamed up with the scaling layer of the Lightning Network, there is not much slowing Litecoin down.

Litecoin is also looking to boost user privacy as the team believes it is something that is missing from both LTC and Bitcoin. The Litecoin Foundation announced last month a collaboration with privacy coin Beam to potentially integrate the Mimblewimble protocol, which would add scale and privacy to the cryptocurrency.

Finally, the Litecoin halving is due soon, and historically, this kind of event has always been a catalyst for further growth and rallies in the cryptocurrency. The last one in August 2015 saw a serious downturn be broken, and even in the run up to this halvening, there looks to be a break in the downturn already.

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