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Litecoin hasn’t hit triple digits since mid-2018 when it dipped below $100 and started a descent that would see it bottom out at just under $25. However, it has steadily started climbing since then and this year has been particularly kind to Bitcoin’s younger brother with a doubling of its value in the first quarter and an almost 50% jump in April that saw the coin go from around $60 to around $90.
Litecoins’s latest disciple, UFC fighter Ben Askren, has started shouting about the rally from the rooftops since the Litecoin price broke the $100 barrier. It is currently dipped to just under $100 but there is no doubt in the minds of many traders that it will continue to go from strength to strength.
— Ben Askren (@Benaskren) May 15, 2019
Smart marketing from Charlie Lee
Charlie Lee, the coin’s founder, seems to have a particular knack for marketing to the right people. His sponsorship of Askren at UFC 235 that was held earlier this year was rewarded when Askren won the match and the Litecoin logo was plastered all over the famous octagon. Lee seems to have a knack for choosing winners.
Many industry experts believe that Litecoin will be one of the cryptocurrencies to watch this year, as Charlie Lee has promised an increased focus on privacy. This focus on privacy is looking to barge into the market that Zcash dominates and that other coins are hoping to get into.
The current price is still a ways away from the peak Litecoin enjoyed, which stood at somewhere in the region of $300. However, with Bitcoin making leaps of $1000 in a day, the market is set to go on another bull run, if it hasn’t already started. The online crypto trading community seems to be enamored with Litecoin at the moment and many attribute that to the star power Charlie Lee has chosen and the direction he is taking Litecoin.
Pro athletes a top target for crypto leaders
Sponsoring the right athletes in the rights sports could lead to extensive exposure for cryptocurrencies. It just so happens that many more athletes are making noise about Bitcoin. Two popular athletes in the NFL have already tweeted about wanting to get paid in Bitcoin. Their respective teams have shut down the idea for the time being, but it does open up possibilities for a coin that has a more involved core team to take over… such as Litecoin.
This Friday Litecoin gets in the ring at #GLORY65. Tune in and support this awesome organization that is quickly taking the combat sports world by storm and making Litecoin a part of their push! https://t.co/q7gZhgoSuf @GLORY_WS @ufcfightpass pic.twitter.com/wg215fivLu
— Litecoin Foundation (@LTCFoundation) May 13, 2019
Paying players a salary in Litecoin would be a dream for many, as it would eliminate some of the costs of when people buy Litecoins. The two players in question, Matt Barkley and Russell Okung have started a conversation in the sporting world that is sure to generate a lot of controversies in the future.
Cryptocurrencies are fast moving towards mainstream acceptance, and once that comes the banks and other financial institutions that have run the world for so long will have to adapt to modern methods or die with their traditional outlooks.