Today, SFox through their blog has announced that they have listed Litecoin (LTC) on their trading platform. This is a big deal for Litecoin (LTC) because it provides institutional players with access to Litecoin (LTC), deepening its liquidity levels in the market. Through SFOX, investors will have access to over 7 exchanges through a proprietary algorithm that allows investors to leverage on speed in executing their trades. Through this exchange, algorithmic traders looking to trade in Litecoin now have a platform to do so.
But SFox is just one of a growing number of platforms providing the platform for institutions to trade in Litecoin (LTC). Coinbase too is offering custody for institutional players looking to store Litecoin (LTC), Bitcoin (BTC) and several other cryptos. All this points to a scenario where Litecoin is gaining acceptance in institutional circles, a sign that the intrinsic value of this crypto is high. Otherwise, it would not be drawing so much attention from institutional money, which is also considered smart money.
Litecoin’s deepening value in the market is also visible in its adoption it the market. Litecoin is one of the most adopted cryptos in the market today, for everyday purchases. It is accepted by different merchants including at an airport. This is a pointer to the fact that the market actually believes in it is an efficient mode of payment. But even more importantly, as people spend it, it actually gains in value. That’s because Litecoin is meant to be spent as a currency, not just to be hoarded.
With all these developments, Litecoin is definitely the crypto to watch going into 2019. This assertion is backed by a number of factors. First, Litecoin is gaining more acceptance in institutional circles as discussed above. As institutional money continues to flow into Litecoin, the value of this crypto will see its value rise significantly going into 2019.
Then there is the fact that the Litecoin halving is coming up in 2019. As this event approaches, it will create FOMO around Litecoin (LTC) and push up its value. That’s because it is expected that this event will reduce the supply of the number of coins entering the market, and push up the price, as demand continues to outpace supply. Looking back at the Litecoin and bitcoin charts, previous halvings have led to a significant increase in price, even though other factors too, did contribute to the rise in prices.
Litecoin’s market strength going into 2019, also comes from the fact that it has proven itself as a truly decentralized network that is not reliant on any individual or groups of individuals for it to grow. Litecoin (LTC) has survived and continues to thrive in spite of the fact that its main figurehead, Charlie Lee sold. Were it a weak project that is reliant on figureheads, Litecoin would be dead at this point. This makes it a solid long-term hold going into 2019 and beyond.
Its connection to bitcoin also pretty much guarantees that as long as Bitcoin (BTC) gains in value, Litecoin (LTC) will gain too. Different projections put bitcoin (BTC) at a valuation of about $100k in 2019. If this comes true, and it probably will, then the possibility of Litecoin (LTC) hitting $1000 would be quite high. That would make it an incredibly profitable trade for investors who get in, while it is still trading at under $100.