Litecoin (LTC) has had a spectacular 2019, growing in value by over 400% since the beginning of January, when it cost as little as $31 per coin. The coin is now the fourth highest digital asset by market capitalization, with an overall value of over $8 billion and an individual coin price above $130.
Litecoin enjoyed more gains this past week, climbing to an impressive high of $143 last Tuesday before correcting to current levels around $132. The weekend saw some positive movement for most cryptocurrencies and has shifted sentiment in the community towards a more bullish stance following a weak start to June. While Litecoin is trading slightly down today, it’s still sitting nicely in the green over the past seven days.
Litecoin adoption amongst retailers is growing.
Ever since Bitcoin reached a high of almost $20,000 per coin back in 2017, thousands of investors have flocked to the market to get a piece of the action. However, the trading hype makes it easy to forget that cryptocurrencies were also created as a means of payment. While there is no doubt that they serve as excellent tools for both day-trading and long-term investment, they also have an excellent use-case for both online and in-store retailers.
Cryptocurrency payments help to cut out the middlemen usually involved in remote payments, helping to reduce both costs and transaction times. Litecoin’s benefits in this area have not gone unnoticed, with more and more retailers and merchants now opting to add Litecoin as a payment method. Through the implementation of ‘shopping cart plugins,’ online merchants can quickly and easily add Litecoin as a payment option to their existing webcart. Several of the most popular webcarts – including WooCommerce, Opencart, Shopify and Magneto – all support the addition of plugins from various crypto payment platforms.
Currently, several crypto payment gateways have developed quick and easy to install shopping cart plugins for Litecoin, including CoinGate, Moon, and CoinPayments – amongst others. The plugins are freely available for download from any of the providers and often support multiple other cryptocurrencies in addition to Litecoin. All you need to is register and set up an account with the provider of your choice and you’re good to go!
As the cryptocurrency market continues to make gains into 2019, Litecoin is well positioned to become one of the top 3 leading cryptocurrencies by market cap. The fast, secure, and highly-scalable Litecoin network makes it the ideal coin of choice for any size payment – from just a few cents to hundreds of dollars.
Litecoin founder Charlie Lee was recently invited to join Tron (TRX) founder Justin Sun at his lunch with billionaire investor Warren Buffett. As institutional interest in the cryptocurrency market grows on a daily basis, the development will no doubt be a massive boost for both Litecoin and the overall cryptocurrency market moving forward.