Surging through the cryptocurrency market, Litecoin has introduced new features that are consumer friendly. This should spike growth even further in the market, while providing much needed stability and demand. Users who perform larger transactions can enjoy negligible transaction fees. In fact, a recent $62 million transaction was completed on the network for about $0.5 (Ł0.00922) recently.
Increase in Trading Values
The transaction was a Multi-Signature/Segwit ‘M’ (multiple micro transactions conducted by a group of people off the block chain until completed) address from a handful of legacy addresses and have generated much interest in the space. The transaction was made up of 4 distinct LTC transactions for 5,000 LTC each. The total balance of that address is still upwards of 150,000 LTC.
This has been one of the largest and most valuable transactions in the marketplace and has set the precedence for things to come. In addition, there are more vendors in the marketplace that are accepting Litecoin as currency. This has been a positive move in the cryptocurrency sphere and a strong one for Litecoin.
Litecoin has a market cap of about $2.98 billion and about $385 million worth of Litecoin was traded over the exchange in the last day or so.
Increased Security and Functionality
Litecoin has also launched new tools recently that allow investors to purchase between $50 and $20,000 worth of coins in less than 5 minutes using their credit card. They’ve partnered with Simplex, a crypto payment processing company that defends against fraud by handling the KYC/AML process. This provides users with a safe yet convenient way to purchase Litecoin.
New Marketing Strategies
Litecoin.com also launched a new logo and a new advertising campaign to attract more investors into the marketplace. LiteIM, a Swiss crypto company who has recently created a Facebook Messenger wallet, is the first to start advertising with the new and improved Litecoin.
After celebrating its 7th birthday last month, Litecoin has shifted its focus to introducing consumer-friendly tools and features. It’s trying to create a strong market in the cryptocurrency space and lead the bullish charge that Binance CEO, Changpeng Zhao, is expecting. While the market turns towards greener pastures, Litecoin has taken early initiative.