One of the biggest goals for any cryptocurrency is to be used for daily transactions by a good number of people. And for Litecoin, this is exactly what they want to happen. Litecoin launched two new mass adoption campaigns. One is PayWithLitecoin and the other is LitecoinAcceptedHere. They made use of the tagline “does your business accept Litecoin”.
There is no further information as to how the team looks to develop their campaign. However, one could assume that it targets both small and medium-sized entrepreneurs to adopt Litecoin token as its mode of payment.
This Twitter campaign by LTC encouraged its followers to spread the word. And recently, this is the latest attempt of Litecoin to recover the value that it has suffered recently. In fact, Litecoin has been replaced by EOS recently.
Unlike other cryptocurrencies that would’ve accepted the loss sitting down, Litecoin came back with a strong campaign. They are expecting that this could eventually capture the attention of small and medium-sized businesses.
Will the Campaign Be a Success?
Can this campaign be considered a success? There are many followers that have already shared the hashtags for the campaigns. According to Jon Moore, who is a Litecoin enthusiast, he tweeted, “A business that accepts a credit card as payment can have the money taken away from them for 6 months after the original sale. Using Litecoin as payments is a great way to prevent consumer fraud happening. Start accepting Litecoin as payment and feel the power back in your hands!! #paywithlitecoin”. He mentioned that he works for the credit card industry that’s why he knows all this.
On April 25, 2018, Wikileaks shop announced that they are already starting to accept Litecoin as a payment method. Julian Assange has been known to support decentralization as well as privacy and a number of blockchain technology-related developments.
Silver of the Crypto World
LTC has been considered as the silver of the crypto world. On the other hand, Bitcoin has been considered as the gold standard. Charlie Lee is a hands-on leader for the cryptocurrency even providing plans on how to approach scenarios wherein the last Litecoin has been mined. However, he mentioned before that Litecoin is more centralized in its development considering that he is involved. Lee even mentioned that he would soon leave the team to let Litecoin develop on its own similar to how Bitcoin does it with an anonymous founder.
Litecoin is currently trading at around $160. It has a market capitalization of around $9.2 billion and has even been seen in recent days at $183 before it crashed to $144 before slowly recovering.
It is true that businesses need to be educated before they will be able to realize the power of Litecoin and other digital currencies. What makes Litecoin special is the fact that Charlie Lee had it all figured out as to which direction the cryptocurrency should go.
OKEx, GDAX, and Bitfinex are just a few of the exchanges where LTC has been quite popular. In fact, LTC has accounted to around 42% of the total trading volume for those exchanges. But of course, if Litecoin is adopted by small and medium-sized business, this could mean higher trading volume and a higher price for the cryptocurrency in the future.