Litecoin

Top 5 cryptocurrencies to watch this week: BTC, SOL, LTC, LINK, BSV
Altcoins, Bitcoin, Litecoin

Top 5 cryptocurrencies to watch this week: BTC, SOL, LTC, LINK, BSV

Bitcoin (BTC) plummeted to $17,622 on June 18. This marked the first time in Bitcoin’s history that it has fallen below its previous cycle high. The United States Federal Reserve’s aggressive monetary tightening, a crisis at crypto lending platform Celsius and liquidity issues at investment fund Three Arrows Capital are creating a sense of panic among traders.Markets commentator Holger Zschaepitz said that Bitcoin has crashed more than 80% four times in history. That puts the current fall of about 74% within historical standards. Previous bear markets have bottomed out just below the 200-week moving average, according to market analyst Rekt Capital. If history repeats itself, Bitcoin is unlikely to stay at the current depressed levels for a long time.Crypto market data daily view. Source: ...
Binance ends support for anonymous Litecoin transactions
Altcoins, Litecoin

Binance ends support for anonymous Litecoin transactions

Crypto exchange Binance announced they are ending support for Litecoin (LTC) transactions sent through the latest MimbleWimble (MWEB) upgrade.Binance warned that any transaction sent through the MWEB function would be lost since the crypto exchange can’t verify the sender’s address. The crypto exchange didn’t respond to Cointelegraph’s request for comments at the time of publishing.The announcement comes just days after major South Korean crypto exchanges delisted LTC due to the latest upgrade, which makes transaction information confidential. The delisting came just weeks after five crypto exchanges issued warnings similar to Binance. However, the delisting didn’t come as a surprise as S.Korea is known for its strict privacy laws, which prohibit anonymous transactions on crypto excha...
MimbleWimble adds new features for Litecoin, but some exchanges balk
Analysis, Litecoin

MimbleWimble adds new features for Litecoin, but some exchanges balk

Litecoin is one of the earliest alternative coins (altcoins) that came to light after Bitcoin (BTC). Created in October 2011, it is now the 20th most valuable cryptocurrency, boasting a market capitalization of over $4 billion, according to CoinMarketCap data.The MimbleWimble upgrade was first conceived more than two years ago as part of the Litecoin Improvement Proposal. That was in November 2019, as the network started planning on enhancing anonymity between senders and receivers of a transaction on its network.And now, the MWEB is finally out following approval from the majority of nodes. The upgrade was done at Litecoin’s block height of 2,257,920 and came with significant privacy feature changes to the Litecoin network.But, there’s more to the MWEB than just the newly-added privacy fe...
Major South Korean crypto exchanges delist Litecoin
Litecoin

Major South Korean crypto exchanges delist Litecoin

Major cryptocurrency exchanges in South Korea have delisted Litecoin (LTC) weeks after flagging its privacy-focused MimbleWimble (MWEB) upgrade.In a public announcement on Wednesday, Upbit cited the Act on the Reporting and Use of Specific Financial Transaction Information, which prohibits anonymous transactions as the key reason for ending support for LTC. The delisting comes in the light of the much-awaited MWEB upgrade that made LTC transactions private, hiding some of the key identifiers. The upgrade was released earlier this year, nearly two years after its first proposal.The crypto exchange reached out to the Litecoin Foundation to understand the privacy-focused upgrade, and after a thorough review, the exchange decided to end support for LTC transactions. Exchange users have 30 days...
Litecoin confidential transactions spook Korean exchanges
Altcoins, Litecoin

Litecoin confidential transactions spook Korean exchanges

The recent privacy-focused MimbleWimble upgrade on the Litecoin (LTC) blockchain has prompted two of Korea's largest crypto exchanges to issue investment warnings about the fifth-largest cryptocurrency.Bithumb and Upbit, which together account for the majority of trading volume in South Korea, released statements on Monday advising investors about the risks associated with the privacy-enhancing upgrade. Litecoin's use of privacy-focused technology Mimblewimble allows users to make "confidential transactions," that allow them to send tokens while concealing transaction data, according to Bithumb. Upbit issued a similar statement.The two exchanges cited Korea's Act on the Reporting and Use of Specific Financial Transaction Information, a law that requires crypto exchanges to put in place Kno...
DOGE gets more love on Twitter and Ether gets more hate: Data analysis
Etherium, Litecoin

DOGE gets more love on Twitter and Ether gets more hate: Data analysis

Ether (ETH) has taken out the top spot on Twitter as the most hated of five cryptocurrencies studied, while the meme-token Dogecoin (DOGE) is the most liked.The findings emerged from a new report by TRG Datacenters that analyzed a year’s worth of tweets between January 2021 and January 2022 concerning five of the most popular cryptocurrencies to figure out which digital assets were the most emotionally stirring on Twitter. According to the analysis — which looked at Bitcoin (BTC), Cardano (ADA), Dogecoin, Ether and Litecoin (LTC) — Ether was firmly the most negatively associated, with 29% of all tweets containing a negative sentiment. The decision not to include Ripple, which has ardent fans but also very passionate critics, probably makes the study less comprehens...
Litecoin price risks 20% drop as LTC whale activity spikes to monthly highs
Litecoin

Litecoin price risks 20% drop as LTC whale activity spikes to monthly highs

The daily transactions involving the richest Litecoin (LTC) addresses — "whales" that hold 10,000 to 1 million LTC — have jumped to their highest levels since December 2021.Litecoin selloff ahead?On-chain analytics platform Santiment detected a total of 3,458 LTC transactions, worth over $100,000, on April 5, calling it "an indicator of mid-term price direction shifts." Meanwhile, Litecoin's price continued its correction move on April 6, down 13% from recent highs of $135 on March 30.Litecoin daily whale transactions in 2022. Source: SantimentWhales are an influential cluster of investors since they hold a comparatively large amount of coins, whose movements can intentionally or unintentionally move markets in either direction.Santiment's chart revealed little about whether Lite...
Solana price eyes $150 as SOL’s 25% jump this week puts ‘double-bottom’ in play
Altcoins, Bitcoin, Litecoin

Solana price eyes $150 as SOL’s 25% jump this week puts ‘double-bottom’ in play

The price of Solana (SOL) may rise by over 45% in the coming weeks as the cryptocurrency intends to complete a double-bottom chart pattern against the United States dollar.A $150 SOL ahead?Double-bottoms typically appear at the end of a downtrend when the price falls to a low, rebounds, and returns to the level near the previous low. With bears unable to push the price to a newer low, the selling sentiment becomes exhausted, leading to a sharp upside retracement and a breakout move afterward.SOL has been somewhat painting a similar pattern since Jan. 24, especially after extending its rebound move by rising 25% week-to-date to reach above $100. Additionally, a visible bullish divergence between SOL’s price and relative strength index trends indicates a high probability of a double-bottom b...
Rune’s upcoming mainnet launch and Terra (LUNA) integration set off a 74% rally
Altcoins, Litecoin

Rune’s upcoming mainnet launch and Terra (LUNA) integration set off a 74% rally

2021 was a roller coaster of a year for THORChain (RUNE), which saw its price top out at $20.31 only to come crashing down below $4 as a series of hacks and declining interest in decentralized finance had the token limping into 2022.Data suggests that investors could be taking a closer look at Rune and a few potentially bullish factors could include the protocol's recent integration with the Terra and Cosmos ecosystem, an upcoming mainnet launch and the attractive yields offered to liquidity providers.RUNE/USDT 4-hour chart. Source: TradingViewData from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $3.00 on Feb. 24, the price of RUNE has rallied 74.2% to a daily high at $5.23 on March 1 amid a 388% surge in its 24-hour trading volume.Rune integrates with Terra...
Litecoin is finally launching its major Mimblewimble upgrade
Altcoins, Litecoin

Litecoin is finally launching its major Mimblewimble upgrade

After two years of development, Litecoin (LTC) has finally launched its highly anticipated Mimblewimble upgrade, opening the door to more privacy-oriented transactions on the network. Mimblewimble’s integration into Litecoin came by way of the Mimblewimble Extension Block, also known as MWEB, which allows the network’s users to opt-in to confidential transactions. MWEB lead developer David Burkett, who has been sponsored by the Litecoin Foundation, said the upgrade improves Litecoin’s viability as a fungible currency that can be used for everyday transactions, pay employee salaries and even purchase real estate. Mimblewimble is a privacy-focused decentralized protocol that derives its name from a tongue-tying spell that was first made famous in the Harry Potter book series. The protoc...