How did Litecoin, which rose to $ 92, come to this level?
Litecoin price broke records one after another by gaining tremendous momentum yesterday. Litecoin, which started its uptrend at $52 on August 26, rose to $92 at 04:30 CEST yesterday.. After this rise, the price dropped to $76 due to the intense selling demand from the markets and is currently hovering at $80.
The main factor that drove the price: Lightning Network
This is the case for Litecoin. The main factor that brought the huge rise is the successful results of the Lightning Network experiments of Charlie Lee, the creator of Litecoin.
Lightning Network is a service application that allows transfer transactions to be carried out very quickly and with almost 0 commissions. .
Lee, who actively uses his personal Twitter account, has been tweeting about his tests with the Lightning Network for the last two days.. Especially the tweet he shared yesterday at 10.50 CET was very effective in the rapid increase in Litecoin’s price.
First Litecoin Lightning Network request/payment happened! ? @JackMallers sent me 0.01 LTC. That’s a cheap cup of coffee! ? @lightning pic.twitter.com/U58o7TRsf9
— Charlie Lee (@SatoshiLite) September 1, 2017
Lee, the tweet in question’ inde reported that the first payment was made successfully with the Lightning Network and no commission fees were paid.. This news aroused great excitement among technology enthusiasts and investors who are closely interested in digital currencies.
Lightning Network technology is expected to be applied to Bitcoin in the near future.
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