The world of blockchain technology is all about progress and that is why Litecoin LTC was designed and launched as an ICO while being designed to replace the issues found in Bitcoin. That way, LTC team wanted to make sure that they can offer something new to the crypto community while pushing their currency towards mass acceptance. The latest rumors that Litecoin might possibly end up pairing up with Amazon made us question the allegations, so we accepted the challenge and checked what’s behind the scenes along with measuring the odds of having the mentioned partnership coming to a reality.
Why Amazon and Litecoin (LTC)?
If you are following up with the latest news about the world of cryptocurrencies, you could have picked up the news that Kakao, which is Korea’s largest tech and messaging online platform, started to adopt cryptocurrencies. Since Kakao is the equivalent to Facebook and somewhat Amazon as well, it is expected from these services to have at least a minor comeback regarding the story of adopting and accepting cryptos.
However, we know that Facebook announced weeks ago that all ads related to cryptocurrencies will be banned on Facebook as of June, so you can take the liberty of expelling Facebook from this equation, as this social media platform is obviously not sharing the same opinion that Kakao representatives have regarding cryptocurrencies.
Moreover, if we get a few weeks back, there is also that scandal revolving around Facebook with allegations that this company is making a lot of money by using personal information uploaded on site by Facebook users that own accounts on this network.
To make an opposition to this case scenario, we all know that cryptos and blockchain technology are all about decentralization and transparency, so it is more than obvious that the vision Facebook has about the way data is being distributed today is far different from the general purpose of cryptocurrencies and blockchain-based technology.
To get back to the main point, it is thought that Amazon might soon want to join the crypto currents given the fact that Amazon has been operating ahead of its competition with implementing digital publishing, Amazon Kindle, Amazon FBA and same-day delivery feature.
That is why it is considered that Amazon might soon get interested in implementing blockchain technology with the potential usage of cryptocurrencies for making fast purchases via blockchain-based ecosystem. And which currency would be the best to support this potential scenario – apparently and in accordance with the general opinion of blockchain experts, Litecoin would most probably have the honor.
Litecoin (LTC) is the currency which is the most similar to the original digital coin – Bitcoin. However, as the blockchain based technology started to improve and develop, many experts and later on even laymen noticed that Bitcoin has some major issues with privacy, and as we all know no one wants to have problems with privacy: that is why people are going for cryptocurrencies instead of fiat values in the first place.
Furthermore, Litecoin has shown some improvements in the price over the last 3 months, of course if we forget about the market dip for a moment (yes, the crash made it hard to be forgotten!) while Bitcoin lost more than half of its price with seemingly no chances of getting back to the trading price of 20.000$ per one unit.
Being able to process all transactions within only a few seconds while having enabled instant privacy, safety, and security, Litecoin just seems to be the best choice for Amazon in case this company decides to adopt cryptos and blockchain technology.
That being said, in case Litecoin is to get adopted by Amazon, it is more than evident that LTC would be able to overthrow Bitcoin, which is currently ranked as the number one cryptocurrency in the market.
Litecoin and the Market
After the most recent change in the market, it seems that all major currencies are dropping on the day of this writing. That doesn’t exclude LTC either. As the market is going through yet another wave of decreases, we can see that Litecoin (LTC) has dropped only for 0.56% against the dollar while it dropped by -1.87% against Bitcoin.
LTC’s all-time high was reached back in mid-December of 2017 when this currency was dealing at over 330$ per one unit. Now, LTC is being traded at the price of 114.36$, which is still far from its record price.
However, in case Litecoin (LTC) manages to step into the game with Amazon on its side, this currency could easily retrieve what it lost, and more than expected.