Litecoin (LTC) has been pretty beat up in the last few weeks. However, for those holding Litecoin in their portfolio, the future is bright. That’s because the Litecoin #paywithLitecoin campaign seems to be gaining traction all across the world. For instance, today the CEO of Wirex sent out a tweet to the effect that Tesla airport shuttle are accepting payments in Litecoin. The tweet read,
This is a big deal, and indicates that Litecoin is increasingly getting adopted as a currency, and as this happens, its long term value in the market will increase. That’s because the value of cryptos like Litecoin comes from their usage in everyday transactions.
But that’s not the only airport related service where Litecoin (LTC) seems to have a future. Bjorn Kjos, a Norwegian crypto company, has announced that they are working on airline ticket payments in cryptocurrency for the Norwegian market. Though they intend to test it out with Bitcoin, they will definitely add Litecoin in the near future. That’s because when it comes to payments, Litecoin is way better than bitcoin. It’s faster and way cheaper. Prove to this is a recent $99 million transaction that was done in Litecoin, and only cost $0.44. Bitcoin can’t beat that, and Bjorn Kjos will ultimately move to Litecoin, as their preferred crypto for airline payment solutions in the Norwegian market.
Once such use cases go mainstream, the value of Litecoin shoot to the moon. That’s considering the fact that many other companies too have been adopting Litecoin in the recent past, as a payment, indicating that Litecoin is spearheading the way in the adoption of cryptocurrencies as payment methods.
Another thing that gives Litecoin a headstart in the market is its strong brand name. It is among the most known cryptos after bitcoin, Ethereum and Ripple. As a matter of fact, Litecoin is often considered as the more usable twin to bitcoin. Hence the phrase, bitcoin is gold, and Litecoin is the silver of cryptocurrencies. What this means is that in the race to crypto adoption, Litecoin has an edge of other altcoins, even though they may be technically superior to Litecoin.
Litecoin’s value going forward will also be anchored by the upcoming halving that will take place in 2019. Once this happens, the mining difficulty of Litecoin will rise, thereby pushing up its price. By that time, Litecoin will have gained significantly more partnership, which will push up its price in the long-run. With all these factors at play, Litecoin has the potential to hit a valuation of $1000 and above in the near future.
The crypto market is on an uptrend, and the fact that Litecoin (LTC) is a front runner in the market in a good indicator to its future success. In essence, for those holding Litecoin, the current situation in the market has nothing to do with the future of Litecoin. It may be struggling in the market right now, but long-term, Litecoin has the potential to do 10 times this year. Time to load up!