Since Facebook’s Libra has gabbed enormous attention from the crypto market, it has somehow or the other affected the growth of some top altcoins out there as investors become cautious.
However it’s not at all seems to be true for Litecoin(LTC).
A careful observation of the Litecoin’s price graphs will undoubtedly lead us to the fact that Libra’s enormous popularity doesn’t seem to affect the growth of LTC.
As far as the growth of LTC is concerned, the LTC-to-dollar exchange rate witnessed an intraday high of $139.66, which is 3% up since the Asian session open. Not just this, but if we look at LTC’s month-to-date gains, it is more than 26% whereas the market value is approx $3.9 billion.
REASON BEHIND LTC’S STRENGTH
In a market where almost all of the Altcoins were somehow or the other affected by new crypto project Libra, The potentiality of Litecoin to remain completely unaffected is something worth noticing.
Well when observed closely, it can clearly be seen that the surge in LTC’s price primarily went on increasing because of the recent announcement made by the Litecoin Foundation.
The firm recently introduced a LTC debit card. This is going to be an equivalent of a traditional payment card loaded with Litecoin-spending features.
The announcement says as follows:
“The soon to be released debit card will enable users to spend the value of their cryptocurrency either online or in physical store locations, anywhere in the world where major credit cards are accepted.”