When forks originate in the cryptocurrency world, the original currencies usually grow in value. In many ways this is due to the promise of distributing free tokens of the detached blockchain - traders want to get both to increase the prices of the original coin, and to spread the "freebie" bonus. This happens even no matter what the cost is now of the main currency.
This Sunday, Litecoin network has experienced the hardcore Litecoin Cash, which also led to a particular revival of the LTC price trend - the coin grew by almost 58% and now costs about $ 245.
However, this merit belongs not only to the hardship but also to the forthcoming launch of LitePay, which will allow organizations and entrepreneurs to accept payments in LTC, which is much faster and cheaper than in BTC. As for Litecoin Cash, this cryptocurrency also allowed to earn significant funds for its new holders.
Bidding Litecoin Cash began on the Russian platform Yobit on February 19; the LCC token was valued at $ 1.2, however, then the price rose to $ 9.28. This means that the coin increased by 675% in the first 24 hours of trading, however, then it was slightly corrected. The daily trading volume of LCC is $ 4.2 million, which is more than Bytecoin, Rchain, Electroneum, Maker, and Decred.
However, with Litecoin Cash hardcore everything was extremely complicated and challenging - to get coins it was necessary to open several wallets and export private keys. Therefore it is evident that many Litecoin owners did not receive a coin. Moreover, most major crypto-instruments do not support this coin; it is not even in the analysts of Coinmarketcap and Livecoinwatch.
Despite this, it is still difficult to talk about what this coin was created for - it's just a pump & dump, or the project has some more or less serious plans. Also, some users report that they are experiencing technical difficulties with LCC wallets.
Information Source: NewsBTC