Litecoin Dropped After “LitePay” Announced Its Closure

Litecoin Dropped After “LitePay” Announced Its Closure

On March 26, the fifth most significant cyber-coin in the world Litecoin started seeing a notified that it was preparing for being sold. In particular, the organization’s CEO Kenneth Asare some days before that announced to the LF that he stopped all the operations.

The LF has been known for advancing Litecoin, so now, as the company might be sold, the concerns over the future of this cyber-coin grow. It is noteworthy that on Monday, after the news was announced, Litecoin saw a fall of 10% around 8 PM GMT, as per Coinmarketcap.com data.

Our top trading bots

Therefore, on March 26 there was marked a day when Litecoin has dropped by nearly 28.5% since the beginning of the month and has lost over 37% since the start of 2018.

LitePay affecting Litecoin

Sure thing, there were times when this year Litecoin saw some surges. But was is interesting is that in the middle of February this cyber currency went up partway thanks to the news that LitePay would launch its trading payment processing system by the end of that month – on February 26.

However, at the beginning of March, the company notified that it was still examining all potential traders and was delaying card registrations. As the reason for that, LitePay named the malevolent atmosphere among card issuers when it came to dealing with crypto-firms. Since that moment the company did not make any updates on the issue.

What Does The Creator of Litecoin Have To Say?

Charlie Lee, the person who developed Litecoin, said that he was sorry for promoting LitePay. In his words, some things might be too good to be true, and he ignored some signs.

Bitcoin’s Volatility? In 2017 BTC Was More Stable Than In Its Early Days
Despite some 30% crashes in 2017, bitcoin managed to increase by total 1,400% last year, conquering the world’s financial stage. Banks are becoming more...
10th BTC Birthday: All You Need to Know About Bitcoin
This year Halloween marked a decade since one of the most conspiracy currencies (if it is one) emerged. On October 31, 2008, right when the world was suffocating...
Another Crypto-Bubble Went Off But Prices May Still Grow, Ethereum Co-Founder Says
The fact that recently the cyber-assets’ prices dropped does not mean there will be an impediment in their potential increase. This is the opinion of the...
New Crypto Hanacoin to Be Launched on June 12
As the world is expecting four countries – South Korea, North Korea, the US, and China – to fashion a peace agreement at their Singapore meeting, new crypto...
Cryptos Are No Danger to The World of Finance, Says Russia’s Central Bank
Bitcoin and its brethren do not pose any threat to the global financial system due to the fact that the overall volume of cyber assets financial operations...
JPMorgan Chase Officially Admits Bitcoin Can Destroy Banks
It’s official. JPMorgan Chase, the largest US lender, has admitted that cyber money as well as peer-to-peer tech trend, could destroy traditional financial...
50 Cent Dispelled Rumors That He is a Bitcoin Millionaire, Doesn’t Regret Them
Nearly a month ago media outlets massively reported that famous rapper 50 Cent had become a bitcoin millionaire thanks for the decision to accept BTC...
Las Vegas Strippers Are Paid in BTC Via QR Tattoos on Bodies
Legends Room, a Las Vegas adult entertainment club, is a unique place, where strippers accept BTC as payment for their performances. Moreover, the club...
Venezuelan Authorities Opened A School For Teaching Cryptocurrency And Trading
A few days after the launch of El Petro, the Venezuelan government opened a state training center whose task is to teach citizens how to buy, sell and...
Hedge Fund Manager Invested 90% of His Money In Bitcoin. Here’s Why
While lots of prudent investors argue whether it is better to purchase the whole bitcoin or just its fraction, some bullish bitcoin supporters pile thousands...
Bitcoin Goes Below $7,300 After Large Banks Ban BTC Purchases With Credit Cards
On February 5, bitcoin’s price has fallen below the margin of $8,000 – again after Friday’s decrease to $7,695. This time, the drop is formidable as it...
50 Cent Made Millions By Chance as He Accepted Bitcoin For His Album
Back in 2014, when bitcoin’s value was just $662, famous American rapper 50 Cent (Curtis James Jackson III by birth), was the first celebrity to accept...
First Online Cinema On the Blockchain. White Rabbit Cooperates With Streaming Services
White Rabbit is a plug-in for the browser that offers a transparent and instant monetization model for publishers, investors, actors; as well as high-quality...
The AI revolution has begun: SingularityNet ICO gone in 60 seconds
Colossal tech companies use AI to process millions of real-time data points every second. So they need something that could help with automation. Here...
Altcoin to Invest: Zcash
Zcash is a cryptocurrency with open source, developed by Zerocoin Electric Coin Company on October 28, 2016. Zcash provides privacy and selective transparency...