Litecoin currently holds the badge of fourth-largest cryptocurrency with a quite impressing figure. LTC at the moment performs higher than other largest cryptocurrencies on the graph of CoinMarketCap (CMC).
What Drives Significant Growth?
At press time, LTC is soaring with 16.78 percent over the past 24 hours which has quickly turned its daily trading volume. Accordingly, the market cap shoots up to $5,860,125,731 and the coin being traded at $93.44 against USD.
However, what spiked the price of LTC is still uncertain but as per the observation – the growth in the price of Bitcoin is historically witnessed in the eventual growth of other cryptocurrencies.
Litecoin Captures Major Success
While many of us are skeptical on why Litecoin has risen, another reason that is quickly influencing the price of LTC is ” recognition by Miami Dolphins, a professional American Football team. Miami Dolphins has recently confirmed the report and states that they have partnered with Litecoin foundation and treating Litecoin as the official cryptocurrency.
Per the partnership, game attendees can now pay for their token for the team’s 50/50 raffle by using Litecoin in addition to bitcoin. It mentioned that these tickets can be purchased online as well as at 14 kiosk and raffle seller locations across Hard Rock Stadium.
Now Football fan base can have streamlined access to attend 2019 NFL season by purchasing tickets using their LTC holding. It marked as a great achievement to Litecoin as the partnership also allow Litecoin to have in-game branding as well as advertising opportunities at Hark Rock Stadium. Besides this, Litecoin can also be included across the “team’s various online properties and digital content”. Concerning the partnership, Charlie Lee, creator of Litecoin and managing director of the Litecoin Foundation said that;
“We’re thrilled to see Litecoin become the official cryptocurrency of the Miami Dolphins”
Following the similar note, Miami Dolphins Vice President & Chief Information Officer Kim Rometo expressed his gratitude and added;
“The Miami Dolphins are always looking for ways to enhance the fan experience, and this partnership with Litecoin provides the ability for guests to enjoy our 50/50 raffle while donating to a great cause,”
This is quite a big deal for Litecoin because the partnership has resulted in a paramount branding of Litecoin in front of an audience of millions of people across the world. To note, 2019 NFL season will begin on Sept 5, 2019, until Dec 29, 2019.
More on the price upsurge, many also speculate that it’s a result of the halving event which is just a couple of days away from now. It is predicted that the LTC traders might experience even more volatility when the halving takes place.
Also, another biggest name that counts with the name of Litecoin is Binance Singapore. According to the latest report, released on July 17, 2019, Binance Singapore has listed the fourth-largest cryptocurrency, Litecoin and its trading are live.
Image Source – Litecoin blog
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