Litecoin founder Charlie Lee is reportedly doing everything to push the Litecoin (LTC) price to $400. The altcoin’s all-time high is $375.29 and if Lee’s efforts show result, it will be higher than that. Moreover, the price will be close to that of Ethreum (ETH).
According to Ethereum World News, Lee replying to the critics mentioned in a Twitter conversation that Litecoin Foundation has nothing to do with the price. Its mission is to advance the coin for the good of society. He even encouraged people to create a foundation that can help price of LTC to rise. Currently, LTC is trading at $85, and ETH is trading at $467.
It is to be noted that in the recent time, Litecoin (LTC) has plunged. In fact, some believe that the fall has been so drastic that it difficult for the coin to move up as it shows no signs of improvement. However, the founder believes that Litecoin will soon return to an appreciable point. He tweeted: “I’m trying my best to get LTC to $400 so people like you will stop shitting on me all the time. Who abandoned LTC?!”
On the other hand, Stellar (XLM) crossed the market cap of LTC to which Lee even “congratulated” XLM. However, he used a sarcastic tone for the statement, as Stellar Lumens does not use the proof of work or proof of purchase consensus algorithm. He tweeted, “Congrats to Stellar on passing Litecoin’s marketcap. That said, it really doesn’t make sense to compare marketcaps of coins that are “printed”, b/c they have an inflated marketcap. Maybe I’m old school, but I only care about decentralized mineable coins.”
In other news, Litecoin partnered with TokenPay which resulted in Litecoin Foundation, an independent entity, gaining a 9.9% stake in Germany-based WEG Bank, free of charge. After acquiring the stake Charlie commented: “Best case is that with this bank, we are able to create and deliver crypto solutions like debit cards, merchant processing, and other innovative solutions.
See also: Is Litecoin [LTC] a worthy Investment?
He added, “However, even with a stake and influence at the bank, it’s not guaranteed that this will succeed. People have brought up valid concerns that we still need to work with and be approved by players in the current financial systems like Visa and SWIFT, but we definitely have a much higher chance of succeeding now that we own a stake in a bank with bank licenses.”
Image via Shutterstock
Join our Telegram group