Litecoin staged a dramatic comeback and emerged as the best performer in the 1st quarter of 2019. At the beginning of the year, Litecoin was trading at $31 but managed to surge in price to record $88 as at the time this article was being written.
Its weekly percentage rise was the best among the top 20 cryptocurrencies. However, Litecoin has a lot to prove despite its positive performance in recent months. The cryptocurrency has a lot of better features that make it undervalued despite its recent run.
First and foremost, Litecoin is one of the fastest cryptocurrencies out there. It is way faster than the king of cryptocurrencies, Bitcoin. In terms of the acceptance rate of digital assets, users consider the ones that do not delay the transaction.
Litecoin can process a transaction within 2 minutes 30 seconds, and the earlier people get to know about this, the more likely the price will move at a faster pace. Litecoin is currently showing a positive sign of rising to the moon, and the consideration of this aspect of the digital asset makes it possible.
Litecoin has reached a lot of institutions, and it is accepted in almost all the institutions that also receive payment in Bitcoin. Companies such as Woocommerrce and Microsoft accept payment in Litecoin, and more are expected to come on board after they fully understand that this digital asset can cause a massive revolution in their financial sector. LTC surged to trade at $366 during the late 2017 and early 2018 cryptocurrency market boom but dropped in price to trade below $30. Looking at the cryptocurrency from the side of its potential, it will likely retrade at $366 and even make history by trading above it.
It is worth to understand that the poor performance of Litecoin over the years was attributed to panic and fear on the half of investors after the South Korean government announced crackdown against the cryptocurrency operation.
It is also important to note that the price of a cryptocurrency is affected by the interplay of multiple factors, and the one that appears to be stronger than the rest moves the price. Litecoin foundation has recently signed partnership deals with C&U Entertainment Global, a K-Pop production company and has also signed a deal with Glory Kickboxing and another deal with Beam.
These have possibly had a spillover effect on the entire market to drive it positively. The response to these deals would be reflected in a record-breaking trading price. Litecoin has a lot to offer and now is the time.