Litecoin (LTC), one of the most popular cryptocurrencies out there, gained 36 percent, becoming fifth most capitalized cryptocurrency in the world. Here’s what made it possible.
Litecoin gained 36 per cent value in last 24 hours, getting its capitalization to $11,9 billion, which makes it fifth most capitalized cryptocurrency in the world. On February 14th, Litecoin hit the $210 mark, according to CoinMarket Cap data.
What caused such a spike in value? According to Daily Express, it is a deal with Visa. According to the report, the banking company looks forward to introduce Litepay, a payment system compatible with Visa credit cards.
What this means is that we are going to see Litecoin cards very soon, and business will finally get its hands on practical cryptocurrency payment method.
The system that some already named breakthrough is expected to enter service on February 26.
Up until now, Bitcoin, despite its impressive value, was riddled with slow payment processing speed, making this cryptocurrency rather inconvenient for real payments.
In 2017, Litecoin’s value increased 75 times, making it the fastest growing cryptocurrency in the world. By comparison, Bitcoin’s value increased only 17 times during the same period.