There are two major news that influenced Litecoin growth.
1. Recently, there were news about upcoming fork called “Litecoin Cash,” which is promising new tokens to existing holders at block 1,371,111. For every 1 LTC held at block 1,371,111, holders will receive 10 “LCC,” according to the official website of “Litecoin Cash”.
However, Litecoin founder creator Charlie Lee called this project as “scam” on his official twitter.
2. The second, and main reason behind the Litecoin growth is connected with a Litepay news.
So what is LitePay?
Litepay is “a new payment system for Litecoin, which will allow businesses to accept Litecoin payments, and offer users the ability to “spend dollars anywhere debit cards are accepted, or withdraw cash from any compatible ATM”.
The Litepay feature will allow businesses to accept Litecoin payments and official Litecoin debit cards, bringing the cryptocurrency closer to mainstream.
According to Palwasha Saaim, a Research Analyst at Lombardi Financial, LitePay will truly be a “game changer.”
Saaim said: “Litecoin users will be able to convert Litecoins to dollars and vice versa through their Visa-compatible LitePay cards, which will be usable at all ATMs or businesses that support Visa payments.