Litecoin [LTC] Hash Rate on an Uptrend since mid-December amidst a Swift Kick to Adoption

Despite the ongoing market, Litecoin hash rate has been seeing growth for two consecutive months after hitting the lowest in mid-December, 2018. Currently at 5th position, having flipped by EOS, Litecoin has partnered up with Send app that allows to buy, sell and pay with Litecoin through Visa cards.

Litecoin Fundamental Showing Strength

Since January, Litecoin has been seeing a lot of development and growth as it works on becoming the new payment of choice globally while exploring fungibility and confidential transactions.

When it comes to fundamentals, Litecoin has been seeing another uptrend as it surpassed 200TH/s (terahash) hash rate despite the ongoing market condition. After hitting the peak in May 2018, it has been on a constant slide but in mid-December, the hash rate been on growth for two consecutive months.

While the Litecoin price is down 88 percent from its peak at $360, the network security has only fallen by about 30 percent, as per the Bitinfocharts data.

Back in April 2017 was the last time, the hash rate was this high when the price was about $128. In May 2018, the hash rate topped at 342TH/s at around $120 value. After hitting the bottom in December last year at 146TH/s along with the price at $28, now, it got the chance to catch up as it has been growing ever since.

Buy, Sell, & Pay with LTC via Visa card

Litecoin has been yet again flipped by EOS as the prices turned red. With the 24-hours loss of over 5 percent, it is currently trading at $41.55 while registering about 5 percent loss in the BTC market.

LTC price 1-month chart, Source: Coinmarketcap

While at the adoption front, Litecoin has been gaining traction as now Spend has announced that its users can make transactions with Litecoin through their Visa Card. Spend app allows users to have access to a multi-currency digital wallet that they can link to a bank account meaning they get to buy, sell, and make payments in LTC via Spend Visa Card.

After having problems with Litepay and TenX, Litecoin is finally able to provide the ease of paying with Visa cards which will make it available in 40 million stores worldwide.

The post Litecoin [LTC] Hash Rate on an Uptrend since mid-December amidst a Swift Kick to Adoption appeared first on Coingape.

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Author: Anjali Tyagi


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