This year, it seems that the crypto known as “digital silver” has been delayed in increasing its market capitalization, with respect to the leading players in the CoinMarketCap ranking, to the point that the rumours of the moment declared: “Litecoin is dead“.
Despite the drop to the seventh position, it seems that Litecoin (LTC) has returned to a bullish trend over the last week.
On the occasion of the occurrence, the Litecoin Foundation denied the rumours concerning the crypto by stating the following through a tweet:
"It seems the rumors of my death have been greatly exaggerated."
August 17, 2020
— Litecoin Foundation (@LTCFoundation) August 17, 2020
“It seems the rumors of my death have been greatly exaggerated”.
And in fact, in honour of the MimbleWimble update on the Litecoin network, some investors seem to be considering a rally of the price of litecoin.
As anticipated, the privacy protocol should be tested soon and finalized by this September. It should help protect the identities of litecoiners, as well as improve and increase the scalability of the network and manage more transactions per second.
This additional privacy functionality would make Litecoin more competitive and attractive for all those crypto users already known for their level of privacy, such as Monero (XMR) and ZCash (ZEC).
The latest news about Litecoin
The Litecoin network, led by Charlie Lee, has always been involved in marketing efforts to expand the use of the crypto in various sectors, for example by sponsoring global sporting events.
Another recent initiative, in collaboration with the fintech Ternio platform, has seen Litecoin also play a leading role in the launch of new debit cards, which can be used to spend crypto and thus also LTC.
Moreover, just yesterday, Grayscale announced the public listing of Grayscale Litecoin Trust (LTCN) and Grayscale Bitcoin Cash Trust (BCHG), both freely tradable for US investors.
Overall, Grayscale now has 6 crypto products, including also Grayscale® Bitcoin Trust (GBTC), Grayscale® Ethereum Trust (ETHE), Grayscale® Ethereum Classic Trust (ETCG) and Grayscale® Digital Large Cap Fund (GDLC).