Dogecoin has had a strange year. A once-obscure cryptocurrency named after a dog-based meme has gained over 14,000% in 2021 and has created many millionaires. It has been backed by many major celebrities and seems to be set for a pretty big future. 

Of course, nothing is ever guaranteed and Dogecoin could just as easily plummet, with the bottom falling out and those millionaires turning to paupers overnight, but whether it rises or falls, it looks like Dogecoin is set to become a popular payment method.

The question is, can Dogecoin rival Bitcoin in the online casino industry? It’s an industry that has helped Bitcoin to become the massively popular currency that it is, and one that facilitates the transfer of millions of dollars worth of coins every day, so will it do the same for Dogecoin?

You can already use Dogecoin at many online casinos, but it’s often relegated to a fringe payment method, with the likes of Ethereum, Litecoin, and XRP available ahead of it. The first step for these casinos is to accept Bitcoin. That’s how the biggest and the best bitcoin casino sites operate. Once the systems are in place for these sites to accept Bitcoin , they move onto Ethereum, Litecoin, and other major currencies.

Only when these have been covered do they considered Dogecoin.

However, now that Dogecoin is flying high, and assuming it remains stable for at least a few more months, that will likely change.

Casinos want to see the stability before they embrace a payment method, otherwise, the price will change too much and too quickly for it to be a viable option. In the past 12 hours, for instance, Dogecoin has gone from a gain of 4% to a loss of 10%. In fact, in the time it has taken to write this sentence, it has dropped 0.5%.

That is just not suitable for an online casino payment method and casinos will be keeping a close eye on proceedings, waiting for it to stabilize, and then jumping on board when it does.

Once they do, payment methods like CoinsPaid, which is already used on dozens of sites, will likely become major players in this industry, helping companies to facilitate crypto payments.

In the meantime, some sites are looking to currency exchanges to process the payments. With these payment methods, your cryptocurrency exchange account essentially assumes the role of a web wallet like PayPal or Skrill.

It means that you can use payment methods like Dogecoin, as well as hundreds of others that are accepted on the exchange. As long as you have the funds in the exchange and can transfer them to an online casino, it doesn’t really matter how they got there, at least not as far as the online casino is concerned.

Many have argued that Dogecoin is set for an epic failure, noting that the coin was created not as a serious investment opportunity but as a joke. They’re not wrong, and it’s fair to say that Dogecoin doesn’t have the same benefits that other coins have.

But it’s not always the best commodities that thrive, and the same is true for anything else. If it was always about being the best, Betamax would have beaten VHS and Blu-ray would have beaten HD. In fact, if the cryptocurrency industry prioritized the most advanced technologies, we’d be seeing new market leaders every couple of years.

It’s all about market demand. If people want that currency and back it, it’s going to soar, and if they keep backing it, it’ll be the currency of the future. Sure, it’s a little hard to believe that the future of Dogecoin could be so bright, and it’s more likely that the bubble will burst and it will be overtaken by better altcoins, but we’re still treading new ground here and nothing is ever certain in the cryptocurrency sector.

In 2013, if you had said to someone that there would be a Bitcoin rival created as a joke and based on a dog with bad grammar that would generate a worth of over $100 billion , no one would have believed you. Even now, it’s hard to imagine, and yet that’s exactly what happened. That’s the future that we live in now.

For all we know, the future of currencies could be based on memes and jokes. Maybe people get so tired of Dollars and Pounds that they start investing in altcoins based around amusing memes.

In a world of Dogecoins and NFTs, a world where people will happily invest millions of dollars to purchase something that doesn’t exist and something that is still, technically, owned by the seller, anything is possible.

Logic dictates that Dogecoin will crash pretty soon and that it doesn’t have much of a future, but logic isn’t in control here. 

We’re well and truly in the throes of “altseason” now, with Bitcoin’s dominance showing no signs of diminishing.

Ether delivered a stunning surge that took its price above $3,000 for the very first time, breaking new records throughout the week. On Saturday, ETH remained in uncharted territory after racing to highs of $3,800.

Among those celebrating ETH’s spike will be Ethereum co-founder Vitalik Buterin, who has officially become a crypto billionaire. Excitement is continuing to build ahead of a long-awaited upgrade that will overhaul the network’s gas fee structure in July.

ETH is in good company, too. EOS rallied by more than 100% this week following a recent protocol that increases the project’s inflation rate. Litecoin has hit a one-year high against Bitcoin , with many analysts predicting extended upside momentum. And Bitcoin Cash jumped 68% amid rumors that a looming hard fork could boost the network’s user base.

Even Ethereum Classic, the hard fork sparked by disagreements after a devastating 2016 hack, has pumped 130% in the past week.

Of course, there’s one altcoin in particular that continues to steal the show…

DOGE has seemed unstoppable in recent weeks. It hit unprecedented highs of $0.7376 early on Saturday. To put into context how bonkers the joke cryptocurrency’s surge really is, $1 invested on Jan. 1 would now be worth $139 at current prices.

Mania over the financial homage to Shiba Inus everywhere may be about to reach a climax when DOGE enthusiast and mega-billionaire Elon Musk hosts Saturday Night Live . It’s inevitable that his appearance will feature endless sketches about Dogecoin, and that could pump prices even further.

But not everyone is finding DOGE’s surge to be a cause for celebration. Lowstrife, a popular account on Twitter, believes the end is nigh, with the crypto trader spotting eerie similarities between DOGE’s current charts and XRP in the heady days of 2018.

Back then, XRP had hit all-time highs of $3.20 that remain true to this day, but then slowly faded to lows of $0.14 — a loss of 95.6%.

Warning of an impending apocalypse for DOGE, Lowstrife wrote: “Each of DOGE’s major rallies this year has been smaller and less aggressive. What took 18 hours at first has been ongoing for 2 days now. I suspect this is the final push before it’s all over for good. May 8th is the day to watch.”

Even Musk himself has been cooling the hype, reminding followers that crypto investments remain speculative.

A flurry of earnings results this week powerfully illustrated the impact that Bitcoin’s sensational first quarter has had.

Square blew analysts’ expectations by delivering earnings of $0.41 per share between January and March — far beyond the $0.16 forecast. Revenue came in at $5.06 billion , dwarfing predictions of $3.36 billion.

Bitcoin alone drove $3.5 billion in revenue, an astonishing increase of 1,000% in just 12 months. Overall, the crypto-friendly company’s gross profit also surged 79% year on year to hit $964 million.

Square’s also sitting on paper profits of $250 million after making two high-profile Bitcoin purchases — one in February and one in October.

PayPal has also been heralding the “great results” it has been receiving from its crypto service. The platform’s earnings and revenue also exceeded predictions in Q1.

The celebratory atmosphere isn’t universal. Coinbase shares tumbled to fresh lows on Thursday as Wall Street investors continued to cycle out of high-flying tech stocks. 

COIN bottomed at $255.15 , where it was in danger of breaching the $250 reference price set on the eve of its public listing in April. All of this comes despite the total market cap of all cryptocurrencies surging beyond $2.4 trillion.

FBB Capital Partners’ director of research, Mike Bailey, told Bloomberg: “We saw a mini-bubble in SPACs, IPOs, crypto, clean-tech and hyper-growth in late 2020 and early 2021 and many of these asset classes are nursing bad hangovers.”

(That said, his assertion that crypto is nursing a “bad hangover” is misplaced.)

Coinbase’s woes may be linked to increasing competition among crypto exchanges, which has left retail investors spoiled for choice. There’s a danger that this could eat into the revenues it derives from transaction fees, which make up most of its income.

Elon Musk’s stint on the box this weekend serves as a powerful counterweight to comedian Bill Maher, who didn’t leave crypto enthusiasts in stitches during a recent segment.

On Maher’s program, he compared the industry to a virtual game — and talked about mining in a derisive tone. Maher also implied that investing in tokens was a childish endeavor, and illustrated his point with quotes from Warren Buffett.

He said: “There is something inherently not credible about creating hundreds of billions in virtual wealth with nothing ever actually being accomplished and no actual product made or service rendered. […] Unfortunately, what is real is the unfathomable amount of electricity those massive supercomputers suck up for their mining.”

Maher even quipped that Satoshi Nakamoto, the pseudonym used by Bitcoin’s inventor, is the Japanese term for “Monopoly money.”

Anthony Pompliano shared the clip along with this caption: “Never ask a comedian for investment advice.”

Binance CEO Changpeng Zhao replied, writing: “Very sad to watch. Feel really hopeless for him. Joke’s going to be on him. Time will show.”

At the end of the week, Bitcoin is at $58,366.32 , Ether at $3,811.20 and XRP at $1.56. The total market cap is at $2,433,633,423,933.

Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Shiba Inu , Bitcoin Diamond and Telcoin. The top three altcoin losers of the week are Harmony , Huobi Token and Filecoin.

For more info on crypto prices, make sure to read Cointelegraph’s market analysis . 

“Looks like Uniswap v3 is more gas expensive than v2, roughly as expected.”

Haseeb Qureshi, Dragonfly Capital managing partner

“With cryptocurrencies already creating incredible worldwide wealth, it’s real estate that will sustain that wealth and provide buyers with a legacy.”

Alex Sapir, Sapir Corp chairman

“We saw a mini-bubble in SPACs, IPOs, crypto, clean-tech and hyper-growth in late 2020 and early 2021 and many of these asset classes are nursing bad hangovers.”

Mike Bailey, FBB Capital Partners director of research

“It definitely can go much higher, I think we can see the price go to $10,000, where a lot of ETH bull price targets begin to kick in and people take profits.”

Nikhil Shamapant, retail investor

“We’ve committed to having no HQ, and it’s important to show our decentralized workforce that no one location is [more] important than the other.”

Coinbase

“Each of DOGE’s major rallies this year has been smaller and less aggressive. What took 18 hours at first has been ongoing for 2 days now. I suspect this is the final push before it’s all over for good. May 8th is the day to watch.”

Lowstrife

“DeFi may lead to a paradigm shift in the financial industry and potentially contribute toward a more robust, open, and transparent financial infrastructure.”

Federal Reserve of St. Louis

“Volatility is everywhere […] It is not unique to crypto.”

Changpeng Zhao, Binance CEO

“Of course I hate the Bitcoin success, and I don’t welcome a currency that’s so useful to kidnappers and extortionists and so forth.”

Charlie Munger, billionaire investor

“There is something inherently not credible about creating hundreds of billions in virtual wealth with nothing ever actually being accomplished and no actual product made or service rendered.”

Bill Maher, comedian

Ether’s booming price has prompted feverish talk about a long-fabled “flippening” where ETH overtakes BTC as the world’s largest cryptocurrency.

Although that’s fanciful right now, there are a number of bullish predictions when it comes to where Ether’s price is headed next.

One of them comes from Nikhil Shamapant, a retail investor who recently published a research report where he argued ETH could be worth $150,000 by 2023.

He told Cointelegraph: “It definitely can go much higher. I think we can see the price go to $10,000, where a lot of ETH bull price targets begin to kick in and people take profits. I think we’ll head up to that $10,000-to-$25,000 range, hit a lot of supply and could see some big drawdowns and consolidation at that point.”

Data suggests that Uniswap v3 had a successful first 24 hours — processing more than twice the volume that v2 did in its first month.

But not everyone’s been enamored with the latest iteration of the world’s most popular decentralized exchange, with some users complaining about the costs associated with using it.

One person wrote on Twitter: “Even more expensive to make mistakes now. Tried to migrate my UNI/ETH liquidity to V3, failed and paid 108.09 usd worth of gas.”

Dragonfly Capital’s managing partner, Haseeb Qureshi, also wasn’t impressed. On Twitter, he wrote: “Looks like Uniswap v3 is more gas expensive than v2, roughly as expected. […] Specifically, it’s about 28% more expensive for single-hop transactions it looks like. For larger transactions that cross multiple ticks/buckets, the gas costs should be slightly larger.”

A Democrat senator in New York, Kevin S. Parker, is proposing a three-year ban on crypto mining.

Data centers would only be allowed to operate if they pass an environmental impact review, amid concerns that BTC mining could cause the state to miss ambitious targets designed to tackle climate change.

New York Senate Bill 6486 said: “A single cryptocurrency transaction uses the same amount of energy that an average American household uses in one month, with an estimated level of global energy usage equivalent to that of the country of Sweden.”

The bill is yet to receive widespread backing from other senators. However, the Democrats do control the lower house and senate.

A United States-based business development specialist has claimed that a company that paid them for contract work using cryptocurrency now wants them to return the tokens following a significant rally in the asset’s price.

The unnamed employee, known only as “Crypto Confused,” wrote to MarketWatch and said: “I am not really sure what to do. I have worked with this person for many years, and he has a tendency to try to change the terms of payment after agreeing on a certain way of operating.”

Columnist Quentin Fottrell replied: “If the value of the cryptocurrency had fallen by 100% since August 2020, would he want to pay you in dollars? If it suddenly dipped by that amount today, would he follow up with his employees?”

As experts pinpoint various groups as Dogecoin’s vanguard, the coin’s potential base seems to be a wide coalition.

After bashing Bitcoin back in 2017, JPMorgan CEO Jamie Dimon seems to have softened his stance on crypto, and so has the firm itself.

Declaring BTC a store of value — gold 2.0 — but not a medium of exchange, defies logic. It must first have a use case.

There are all kinds of optimistic predictions about the price of some digital assets these days.

It’s been just reported that Michaël van de Poppe says that Cardano (ADA) and Litecoin (LTC) are almost ready to ignite the next phase of their bull cycles.

In a new video, he said that Cardano is ripe to end its multi-month consolidation against Bitcoin (ADA/BTC).

“If we do crack the range high, I think we’re going to have a new impulse wave and start to continue running. In a new impulse wave, you should be aware of the fact that you have a [resistance to support] flip of this level at 0.0000235. If that happens, we can see continuation happening in general,” he said.

He also said that the bull cycle of ADA/BTC is still in its early stages as he believes the pair has a lot of upside potential.

Regarding the  ADA/USD pair, Van de Poppe says that a breach of the pair’s immediate resistance will catapult Cardano to as high as $2.40.

“I think once we break this red line ($1.36), we just overshoot the previous high, start consolidating and then start continuing as than the previous breaker becomes the previous high as a support zone. As long as that flips, we just continue moving,” he said.

Speaking about Cardano, it’s been recently revealed that the team behind the project dropped an important message on their social media account. Check it out below.

— COTI (@COTInetwork) April 29, 2021

It’s also worth noting the fact that the crypto strategist also sees bright things for Litecoin, which he says is poised to ignite a 65% move against Bitcoin (LTC/BTC).

“Litecoin looks great for a bullish impulse wave.”

Is it better or worse than the famous Bitcoin? Is it a safe technology? This beginner‘s guide is a must read if you have just started to explore the Litecoin space.

Litecoin (LTC оr Ł), a peer-to-peer cryptocurrency, was released in 2011 by the former Google Engineer Charlie Lee. Litecoin is pretty similar to Bitcoin. It is basically an extension of the Bitcoin code, because the creator of Bitcoin, an unknown person going by the alias of Satoshi Nakamoto, had made the code public. For this reason, coins like Litecoin are frequently called “altcoins”. Listening to the founder of Litecoin, he has got some big ideas for his altcoin:

“I believe that cryptocurrency will take over fiat currency and become the reserve currency.”

Since it hit the market, its growth has been remarkable. According to Forbes, it hit its peak in December 2017 when a single coin cost $360.93. Costing only $4.40 the previous year this meant, it saw an 8200% increase in value. Two years later and a coin is worth about $45 (December 2019).

Both coins are cryptocurrencies and share a similar basic structure, relying on crypto networks. Due to its similarity to the original Bitcoin, Litecoin is frequently called the “silver” as opposed to Bitcoin being called the “gold.”

For many users, Bitcoin is the original cryptocurrency, which has maintained its status as the most popular coin. Released in 2009 Bitcoin was designed as an alternative currency, which used blockchain technology to supposedly increase the security in financial transactions.

However, Litecoin uses a different blockchain. This difference allows it to have a faster transaction or transfer speed. While the Bitcoin network processes transactions roughly every 10 minutes, it is possible to complete the same operation in about 2.5 minutes using Litecoin.

Nobody rightfully owns the network in the same way that no one owns the technology behind email. It is controlled by the users around the world. While everyone has the freedom to improve the software, developers can’t force a change in the protocol because all users are free to choose the software and version they want to use.

To stay compatible with each other, all users are compelled to use software with identical rules. It can only work correctly with a complete consensus among all users. Therefore, all users, as well as all developers, have a strong interest in protecting the status quo.

Could one single dishonest miner alter the block and spend the same coin twice? The answer is pretty simple: No. The miners would detect the scam instantly. Manipulation is only possible through 2 methods: A miner with criminal intent could try to get a majority of miners to agree to process a false transaction.

The other method would be to have enough computing power to surpass the whole network. Remember the majority of miners uses specialized hardware because a commonly used computer is nowhere near fast enough to complete the task. Not even the most modern super-computers have enough power to achieve this yet. For that reason, both options are practically impossible.

There will be exactly 84 million coins in the future. Right now there are 6,895,357 in circulation (May 2021). It will be a long time before all the coins will have been produced. The Litecoin Foundation estimates that this will happen in the year 2142. Mining is, because of the reward system, for successful miners.

When the network first started, every miner capable of producing a new segment of the Blockchain, was rewarded with 50 coins. However, since then rewards have decreased dramatically because they halve every 840,000 blocks. The last time this has happened was on August 5, 2019. Since then miners have only received 12.5 coins for fulfilling their tasks. The next halving is expected to take place on August 6, 2023.

Litecoin and Bitcoin are believed to be the two of the most common cryptocurrencies used today. A cryptocurrency is defined as a digital or virtual currency used to transact online. These currencies use a cryptographic technology that prevents users from double-spending or forging. Most virtual currencies use a decentralized system. This means that no central regulatory body controls the money. Additionally, a digital ledger, called a blockchain, is used to record transactions and identify ownership.

Bitcoin or BTC was the first digital coin to be founded. After BTC, many other cryptocurrencies have been created. Litecoin or LTC was the latest to follow BTC’s footsteps and made its debut in the market. Soon after other virtual currencies started popping out leading to a diverse range of options present today.  

Litecoin was developed by its founder to enhance the flexibility and functionality of the first-ever crypto, Bitcoin. Even so, most people are using BTC compared to LTC. It may be because Bitcoin has a better foundation, and most people are already using it in businesses for transactions. However, most individuals are buying Litecoin today, and the currency is catching up fast. 

LTC and BTC share different common characteristics. For instance, they both use decentralized networks. Both are obtained similarly through mining or exchanging from one user to another. Additionally, proof of ownership and transaction history for both can be found in a blockchain. Users mine these two coins every day. Therefore, the two use a common system called halving, which reduces the number of coins in circulation. 

Bitcoin. Physical bitcoin. Digital currency. Cryptocurrency. Golden coin with bitcoin symbol isolated on white background. Stock vector illustration.

Litecoin was created as a greater version of Bitcoin. Therefore, it has superior characteristics that make it a preferred investment over BTC. Some of these features are:

Bitcoin and Litecoin both have a supply limit. When this limit is attained, no more coins will be produced. However, the supply cap for LTC is higher compared to BTC. For Bitcoin, the supply limit is 21 million, while for Litecoin, it’s 84 million. Therefore, until the maximum amount is attained, LTC will continue to satisfy a more significant number of customers compared to BTC.

These enhanced LTC features are not only superior to BTC but to also some other types of cryptocurrencies. It has been mentioned by experts several times that Litecoin’s future could be brighter. Therefore, a good number of people today are considering LTC as opposed to other digital currencies.

Scrypt algorithms identify as more reachable to users compared to BTC’s more complex system. LTC utilizes scrypt which makes it a cheaper and easier digital currency to mine. This factor then becomes one of the reasons why LTC is becoming popular as days go by.

LTC’s mining speed is also higher. One BTC is mined in 10 minutes, while an LTC can be generated within 2.5 minutes. It has been mentioned that this mining speed also affects the confirmation speed of a transaction. For BTC, it takes approximately 10 minutes to complete a transaction. For LTC, however, it takes 2.5 minutes. This is almost four times faster compared to Bitcoin. This factor also increases the volume of transactions that LTC can handle.

Additionally, it’s believed that LTC can be more beneficial for smaller tasks. It’s because the transaction charges may be less compared to what could be charged for BTC. 

Crypto prices change due to varying factors such as competition, supply, demand, or government policies. However, LTC maintains a lower price compared to BTC. This characteristic ensures that digital currency users can sell or buy more LTC at a substantially lower amount than BTC.

BTC and LTC share a similar proof-of-work idea. However, the cryptographic algorithm system used between the two differs. Bitcoin uses an older and more complex system, while Litecoin uses an improved system called scrypt. These two algorithms affect the mining speed of the coins. 

BTC’s algorithm system makes it hard for everyday owners and users to join a data mining network. Usually, if a user needs to do modifications on their system’s hardware in order to take in tasks to get paid using cryptocurrency. For those who are just starting out, Bitcoin’s system can be overwhelming and daunting to understand.

Meanwhile, LTC’s scrypt utilizes solutions that don’t require users to avail of modified hardware systems in order to join in the data mining process.  Scrypt ensures that users can mine LTC using a device’s graphics processing units or GPUs and central processing units or CPUs. These components don’t require powerful computers. Therefore, less energy is consumed while mining LTC.

Bitcoin was the first crypto ever developed. Hence, it’s firmly established itself compared to other virtual currencies in the market. However, a major competitor catching up today is Litecoin. This electronic coin was created as an enhanced version of BTC. The goal was to improve BTC’s processes and, as a result, increased efficiency. LTC, therefore, possesses more desirable features than BTC.

One factor that makes LTC superior is that it takes less time to mine one coin than one BTC. Also, LTC’s scrypt algorithm makes mining easier and cheaper than BTC’s more complex system. Lastly, Litecoin has a higher supply cap, ensuring that a higher demand can be satisfied, unlike Bitcoin.

Since its foundation in 2014 Syscoin has been at the forefront of new developments in blockchain technology. Their latest core version, developed by Blockchain Foundry, looks set to propel the platform ahead of its competitors. 

Syscoin LUX was launched on Friday 30 th of April, introducing a range of leading edge innovations which should make Syscoin the platform of choice for fungible and non-fungible tokens (NFTs), payments, and non-custodial compliance. Easy to use and inexpensive to run, Syscoin LUX opens the world of cryptocurrency applications to a new set of users. 

One of the major features of Syscoin LUX is its ground-breaking support for NFTs, which have applications in gaming, artworks, collectibles and real world assets such as house deeds or plots of land. Demand has been growing for divisible NFTs that allow unique assets to be shared by multiple owners. Syscoin is one of the first NFT platforms to meet this need at the core level. In the past, NFTs have had problems related to space requirements, cost, and the time taken to process transactions. These challenges are fully solved in Syscoin LUX. With blazing-fast speed for instant transactions, minimal space requirements on the blockchain, the security and sustainability of Bitcoin merge-mining, minimal transaction costs, and the option to apply the scalable Notary feature to a wide range of business applications, Syscoin leads the way in NFT support. 

Syscoin Platform Tokens (SPTs) now use a UTXO-based consensus system, providing many benefits over the account-based model used by Ethereum: STPs are now directly aligned with Bitcoin core logic to take advantage of any future Bitcoin innovations. Bitcoin is the most widely used blockchain, with proven security and many promising innovations planned for the future which are based on the UTXO model, making them available to Syscoin. In addition, UTXO allows Syscoin to develop and implement token payment channels. This new payment channel tech will scale token payments to everyone, everywhere, and support off-chain services such as instant decentralized token swaps at very low cost with minimal price slippage – features not currently offered by Bitcoin and Ethereum. 

Syscoin LUX’s unique Notary feature is another industry first, making it easier to integrate SPTs with existing financial markets. This tech speeds up transactions, provides additional

layers of security, and future-proofs the platform and its token issuers against changes to regulations on digital assets. 

The release of Syscoin LUX is accompanied by a new set of Web 3.0 tools that enable developers to easily integrate Syscoin into applications. New cryptocurrency wallets for mobile devices and a browser extension wallet similar to Metamask are being developed and are expected to debut on the platform in the near term. All of this looks set to promote Syscoin to the top level of cryptocurrency platforms. 

About Syscoin 

Syscoin offers fast, low-cost tokens, assets and (fractional) NFT’s secured by Bitcoin’s own hash power, decentralized consensus model, and censorship resistance. About 2,700 independent full nodes participate in Syscoin’s decentralized network, all of which archive and validate. Together they form the high-throughput relay network used by Syscoin’s Z-DAG Protocol. The platform offers the option of a permissioned L2 smart contract feature, Syscoin Notary, which is useful for regulatory compliance at scale, and much more. Its ambitious roadmap aims to define the next generation of decentralized ledger tech, leveraging Zero-Knowledge Proofs to provide the best characteristics of Bitcoin and Ethereum in a coordinated and scalable Web 3.0 platform. Syscoin has official partnerships with Binance, Blockchain Foundry, TrustToken, Komodo, Klever, Decentralized Identity Foundation (DIF), Microsoft Azure, International Token Standardization Association (ITSA) and more. 

About Blockchain Foundry Inc. 

Blockchain Foundry (CSE:BCFN) develops and commercializes blockchain-based business solutions and provides consulting services to corporate clients seeking to incorporate blockchain technology into their businesses.

Looking to advertise? We will gladly help spread the word about your project, company, or service. CryptoMode produces high quality content for cryptocurrency companies. We have provided brand exposure for dozens of companies to date, and you can be one of them. All of our clients appreciate our value/pricing ratio. Contact us if you have any questions: [email protected]

BitcoinInsider Toggle navigation Search form Search BITCOIN ETHEREUM CARDANO BLOCKCHAIN MINING ALTCOINS BITCOIN CASH LITECOIN RIPPLE IOTA DASH EOS MONERO ZCASH NEO COUNTERPARTY CHARTS CRYPTO MARKET CAP ETH-BCH vs BTC BITCOIN PRICE ETHEREUM PRICE RIPPLE PRICE BITCOIN CASH PRICE CARDANO PRICE STELLAR PRICE LITECOIN PRICE EOS PRICE DASH PRICE MONERO PRICE ZCASH PRICE

Litecoin goes against the general market sentiment with a 24.5% and 57% rally in the higher timeframes. At the time of writing, LTC trades at $316 with 4.8% profits in the daily chart.

Anonymous trader Julio_LTC has set support for LTC at $280 with a price target set at $330. The operator is bullish as LTC climbed in the Relative Strength Index (RSI), a measure used to assess price momentum, in the lower timeframes. If the price action gets invalidated $218 could operate as critical support, as shown below.

LTC seems to be correlated with Ethereum’s performance rather than Bitcoin, as usual, according to the trader. Therefore, Litecoin’s rally could experience a cool-off or further appreciation if ETH leads the price action. If LTC hits its target, it could see stronger momentum towards a higher price. The trader added:

I dont believe we’ll see $7000+ this year but I do believe $LTC can go into the $3000-$5000 range. #LTC is a late game player.

Trader Crypto Tony is equally bullish after LTC broke the $289 resistance. The trader said:

Litecoin is going to run so hard it is going to mentally affect those left behind. Bags are packed and ready for launch. The BTC pair tells a story and I want us all to be a part of that story

Data from Glassnode indicates that Litecoin has reached a 3-year high Realized Price at $129.65. Similarly, LTC’s Realized Market Capitalization stood at an all-time high with $8,7 billion.

View metric:https://t.co/jC3fFKAnR2 pic.twitter.com/xjYBplqkjP

— glassnode alerts (@glassnodealerts) May 4, 2021

On-chain activity has been showing ambiguous signs with Litecoin’s network transaction volume at a 4-month low of 359,724 LTC. However, the number of Receiving Addresses reached a 1-month high at May 3rd, with 12,771 addresses.

View metric:https://t.co/KXefSK4Tsl pic.twitter.com/FTMVDsRauP

Additional data provided by IntoTheBlock with their In/Out of the Money Around Price (IOMAP), an indicator to visualized clusters of Litecoin’s price distribution, records potential price support at $259 and $269 with over 5.96 million LTC bought by 103,000 addresses around these levels.

As the chart shows, if LTC rallies there could be major resistance at $314 to $322, $332, and $340. As mentioned, investors should keep a close eye on ETH’s performance for a potential breakout. At the moment, Ethereum’s rally seems to be cooling off but holds potential for another leg-up.

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