Let there be “Lite(coin)”! Litecoin’s surge continues on in the day

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Litecoin is now up by almost 17% on the day, trading near session highs

Is Litecoin mooning? If you head over to the Reddit forums, there’s plenty of talks on that right now and some see a possibility of it heading higher.

It looks like the market is starting to pick up more on LitePay, which is a payment infrastructure for Litecoin, and it was announced two days back that it will be coming as early as 26 February.

LitePay claims to allow businesses to easily accept Litecoin as payments, but they are also offering Litecoin debit cards which will be backed by Visa.

Adding to that, LitePay also claims to be able to allow businesses to instantly accept Litecoin payments, and convert them into fiat currencies – with a 1% fee for each transaction.

And users are said to be able to convert Litecoins to dollars – vice versa – through the Visa-compatible cards, which will be usable at all ATMs or businesses that support Visa payments.
The surge in Litecoin price today sees it become the fifth largest cryptocurrency by market cap, according to CoinMarketCap.

If all holds true, that’s quite a change in the cryptocurrency space – as this is something we’ve not seen from the larger cryptocurrencies like Bitcoin or Ethereum, or at least not to this extent or as sophisticated (LitePay is claiming “instantaneous transfers”, something which Bitcoin has been struggling with).

Any thoughts on the matter from our readers?



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