Litecoin is slowly but surely becoming more acceptable for public use, various merchants are beginning to accept Litecoin as a form of payment. As so, the value will therefore increase over time.
Litecoin has been in the business for quite a while now and being that it has not experienced any outages is a good sign. It is seen as a trustworthy cryptocurrency that is worth relying on. Being that it has not had any outages heightens its appeal for merchants around the world, in addition to its value rising.
Cryptwerk is an excellent way to stay up to date on which merchants allow their customers to spend crypto. The site shows that Litecoin stands as the third most accepted cryptocurrency of course after Bitcoin and Ethereum.
Litecoin is accepted by 3,151 merchants around the world. It has gone up from 3,111 where it stood over a month ago. LTC has just dropped from a high of approximately $280. As of Dec. 6, the cryptocurrency is trading at roughly $153. This is a 45 percent decline from its previous high close on November 14.
LTC, on the other hand, has had a good year thus far (YTD). It was $124.69 at the end of last year, so it’s still up more than 20% year to far. For most investors who stuck it out the entire year, that’s a good return. Those that purchased in during the previous six months (particularly late March to early June) may have lost money. In response, they may now be taking tax-related losses to balance the losses against the gains. This can be the reason that Litecoin is on a high recently. In addition, it implies that next year crypto will start rising again.
As Litecoin continues to gain the attention of investors its value will automatically rise. In fact, it has the potential to double and even triple in value given how accepted it is.