Bitcoin’s Fork Litecoin is Soaring Again – Here is Why

The past few days have seen a stunning improvement in the price for one of the original cryptocurrencies in existence, Litecoin (LTC). Large-scale buying activity has sprung up around the coin, likely due to its listing with EDX Markets, a digital asset trading platform funded by Wall Street. This growth in value has generated 24%, pushing it back into the top ten largest digital assets based on market capitalization, standing right now at $7.72 billion – according to CoinGecko data. Friday was an especially exciting day for digital token owners, when LTC was top performer for the day. Interestingly, the influence of EDX Markets may not be the only factor driving this bullish surge. The famed cryptocurrency is rife with enthusiasm, with many speculating that the upcoming halming event could be a major part of why the price is rapidly fluctuating – set to take place around mid-July, wherein rewards paid out to miners will be sliced in half. Especially significant is the large institutional support that EDX Markets is boasting, as big players like Citadel Securities and Charles Schwab steadily pump capital into the crypto economy.

Suggestions of Litecoin being a potential security risk have been cited – most notably by the US Securities and Exchange Commission (SEC) at the start of this year. What’s remarkable is in spite of such warnings, EDX Markets Chief, Jamil Nazarali, presents very assuredly that the four currencies available on their token streaming exchanges – LTC, , Bitcoin and – do not fall under a security label, resulting in relative peace of mind for investors. Widespread awareness of this currency has always been a bit of a rockier endeavor when juxtaposed to Bitcoin, falling short of rivaling the foremost authority.

Charlie Lee, the founder of LTC, crafted the cryptocurrency with the vision of delivering quicker, cheaper transactions and greater network usage – two emotional resonants that led to the surge in value these past days. While investors haven’t been able to reap considerable monetary benefits from this token prior to the optimization experience offered by EDX Markets, prosperity in Litecoin is on the rise.

Robert Wilson author
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