Litecoin’s Market Cap Touches $6 Billion, Forecasts Suggest Next Big Mover Could Be Utility Coin

Following a price drop, the cryptocurrency market aims to surpass the $1.1 trillion valuation mark. At press time, it hovers around $1.06 trillion, with a modest increase of 0.57% in the past day.

Amid this slight bull run, one top gainer is the popular Bitcoin fork, Litecoin, which has recently touched the $6 billion price mark after months of bearish action.

This feat has spurred many crypto experts to envisage a possible comeback for the lite version of Bitcoin in the coming weeks.

Meanwhile, other savvy investors are paying close attention to DeeLance, a decentralized recruitment platform revolutionizing the online freelance marketplace.

Litecoin Regains Composure

Although many have not acknowledged the presence of the crypto winter, the bearish concept continues to linger in the cryptocurrency market despite several bouts of short-term gains.

So far, the digital currency industry has struggled to hit its previous two-year height of almost $3 trillion, with most of its efforts stopping just shy of $1.3 trillion in 2023.

Nonetheless, the crypto market is showing slight signs of changes and has surged 0.57% in the past day.

The lite version of the Bitcoin protocol, Litecoin, has also been a beneficiary as the lightweight decentralized value exchange platform has risen 1.52% in the past day.

At press time, the asset solidified its position at the $78.57 price peg, with its price chart showing a swift directional change in the early hours of today.

This bullish streak led to Litecoin touching the $6 billion market cap in the early hours of today before slumping again after a slight dip in asset price.

Meanwhile, its long-term gains have not met up to its current reality. On the weekly chart performance, the $LTC asset has slumped 10.54%, with its 30-day performance also being negative at minus 2.24%.

The token’s 90-day price gain is also in the red zone with a 6.5% loss, but its 180-day performance shows a positive 4.21% gain.

In addition, its year-to-date (YTD) performance has reinforced this bullish trend, with the LTC asset up by 11.86%, with its one-year record showing a well-oiled gain of 63.8%.

On its technical front, Litecoin is currently trailing below its 50-day simple moving average (SMA) price of $87.96. The same goes for its 200-day SMA price of $86.09.

Its relative strength index (RSI) figure stands at 35.09, showing that it is massively underbought, while the moving average convergence divergence (MACD) shows a strong sell signal.

Fundamental-wise, Litecoin has remained relevant in the hugely competitive crypto marketplace. The network has recently been earmarked as the second largest crypto payment network after Bitcoin, with 28.78%.

Litecoin ⚡ transactions with the world’s largest #crypto payments processor @Bitpay just hit their highest ever: Over 28% last month!!

More and more people are choosing to #PayWithLITECOIN pic.twitter.com/F8ROfPOnlw

— Litecoin (@litecoin) June 6, 2023

While Litecoin remains a strong and established crypto brand, DeeLance is looking to break open a whole new ecosystem within the digital asset hub.

DeeLance: Enabling a Smart, Permissionless Workplace of Freelancers and Employers

DeeLance is the new phase of blockchain technology and is focused on enabling a permissionless and smart workplace.

Currently in development, DeeLance is the first-mover in the decentralized recruitment platform for freelancers and employers to work smartly and seamlessly.

The platform provides a permissionless job market accessible by anyone and multiple other useful features.

One such feature is tokenization via non-fungible tokens (NFTs), which provides freelancers and ordinary users access.

With DeeLance, freelancers can enjoy better digital ownership of their creative work and readily transfer them to whoever they want once an equivalent value is received.

Hey DeeLancers! 👨‍💻

Get ready for an explosive opportunity! 🤑

DeeLance presale is here at the lowest price of $0.038 per $DLANCE token!

Offering a ticket to the revolutionary freelance ecosystem 💎

Own your work, connect with top talent, and access exclusive perks.

🌟 Join… pic.twitter.com/gb4s0JQ4cI

— DeeLance (@deelance_com) June 12, 2023

In addition, the platform also affords users an NFT marketplace which allows them to own NFTs representing their online avatars. These digital avatars, which are unique and blockchain-accessible, can then be used on their metaverse landscape.

This way, freelancers and employers can better collaborate in a 3D immersive environment with little obstruction from an outside entity.

In addition to this, DeeLance offers several other unique benefits. The platform allows freelancers to access better job offerings than legacy recruitment services like Upwork and Fiverr at 2% of the cost.

The project also allows freelancers to earn via cryptocurrencies, making it more inclusive, especially for talent pools with poor access to financial services.

Powered by the $DLANCE token, the DeeLance project has received rave reviews from many industry experts. So far, it has signed agreements with Mises Browser.

Mises Browser @Mises001 and @deelance_com have reached a partnership.

DeeLance – A Blockchain Ecosystem Where the World Works Together Smartly!

#web3 $DLANCE pic.twitter.com/gRqATtQCPL

— Mises (@Mises001) June 2, 2023

Bigert Ventures has also plowed $1.12 million in seed funding into the decentralized freelance marketplace.

📢 @bitgertbrise investment arm @Bitgertventures has made an strategic investment of $1.12M USD in @deelance_com, a freelance platform!

This investment will help #Deelance expand its services & provide more opportunities for freelancers around the world
#BRISE $BRISE #Bitgert pic.twitter.com/7rjl14bVWU

— BNB Swap (@BNBSwap) May 29, 2023

So far, the $DLANCE token has raised over $1.33 million in its fourth presale round, with more funds pouring in from investors.

Early-bird investors can buy the token at the current presale price of $0.038 before the price hike in the next presale cycle in 10 days.

Buy $DLANCE Now

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