Litecoin (LTC) price has been on a roller coaster like many other coins and altcoins in the cryptocurrency market. The 4th cryptocurrency by market capitalization has been struggling to recover its lost value due to the instability in the cryptocurrency market following pressure from regulatory authorities around the world. Its market capitalization stands at $9.65 billion.
The Litecoin Cash hard fork caused an upsurge in the price of LTC, but the crypto went through what is known us hump and dump which saw the value gain depreciate to the trading levels recorded in early December 2017. The announcement that Litecoin (LTC) will launch LitePay; a payment card system for purchasing goods and services caused another upsurge in the price of LTC from lows of $160 to $234. In addition to that, there was a $2 billion increase in Litecoin market capitalization.
What is LitePay?
LitePay refers to a payment processor developed by Litecoin LTC) to ease the exchange of LTC currency with government-issued fiat from all over the world. The system has been designed to be flexible and straightforward to use by any businesses intending to introduce cryptocurrency payment options. However, the system only supports Litecoin (LTC) cryptocurrency.