Litecoin has stood out by achieving an 8% increase, pushing its value to $107 per coin, thanks to mobile upgrades and regulatory recognition as a commodity.
Litecoin’s (LTC) price surge sets it apart as the only top 15 cryptocurrency by market cap to see growth today, as reported by CoinMarketCap, surpassing its market competitors.
In further good news for Litecoin, the Commodity Futures Trading Commission (CFTC) has officially categorized both Ethereum (ETH) and LTC as commodities following its legal actions against KuCoin.
This classification not only highlights Litecoin’s significance in the digital asset realm but also aligns with Coinbase Institutional’s announcement of listing Litecoin Futures on its platform, significantly boosting investor trust in LTC.
Litecoin’s 24-hour price data from CoinMarketCap
Litecoin’s most recent updates and enhancements
Litecoin’s latest software update, Core v0.21.3, was rolled out at the end of March, potentially contributing to today’s price upswing.
“This update is focused on speeding up MWEB adoption, making it more accessible through mobile wallets than ever before,” stated Litecoin in a press release on March 29.
MWEB, or MimbleWimble Extension Blocks, introduce an optional layer of privacy for transactions, improving the fungibility and scalability of Litecoin.
The update details the implementation of LIP006 and its server component into Litecoin Core, outlining the role of full nodes in the Litecoin Network, which validate transactions and blocks, preserving the network’s decentralized integrity.
“Setting up a full node is as easy as finding a computer with at least 160GB of free disk space that can operate continuously,” the press release explained.
Looking ahead, the Litecoin Foundation has unveiled plans to launch mobile wallets fully supporting MWEB transactions later this year. Litecoin aims to establish itself as one of the most fungible digital currencies around, solidifying its position in the cryptocurrency ecosystem.
The update also mentions ongoing partnerships with third-party collaborators to broaden MWEB support, showcasing Litecoin’s dedication to bolstering user privacy and network scalability.
For more information:
Ethereum’s drop below $3.4k could signal a further decline
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