The crypto markets opened up to a slump this morning, which saw all of the major currencies well down on the totals from the previous evening. While this has since shown some signs of reversal, the coin that suffered the least was Litecoin, which has got the wind in its sails in anticipation of the launch of Litepay today.
Charlie Lee Fans the Flames
And Litecoin creator Charlie Lee isn’t going to sit back and ride the wave. He has reasserted his belief that Litecoin will overtake Bitcoin Cash in the near future, and that Litepay will supersede Bitpay, as it will benefit from the undoubtedly faster transaction speed that Litecoin enjoys over Bitcoin.
Indeed, with the release of Litepay comes the realization that major financial industries may prefer Litecoin to Bitcoin. The Litepay debit card will be powered by Visa, who have seemingly turned their backs on Bitcoin. The ability to use the card at ATMs, coupled with instant LTC-USD conversion will open up huge amounts of potential for Litecoin, which will only have a positive impact on the price.
And while it is a leap of faith to suggest that LTC will escalate with the kind of speed that would see it threaten BTC and ETH for market superiority, it seems a given that it has BCH firmly in its sights – perhaps sooner that even Charlie Lee himself predicts.
At the time of writing, LTC is trading at just over $226, a 10% gain on the last few days, but still well short of its all-time high of $366 back in mid-December.
Do you think LTC will surpass BCH? And if so, when? Let us know your thoughts below.