Litecoin has stood out by achieving an 8% increase, pushing its value to $107 per coin, thanks to mobile upgrades and being recognized as a commodity by regulators.
Litecoin’s price surge sets it apart as the only top 15 cryptocurrency by market cap to see growth today, according to CoinMarketCap, surpassing its market competitors significantly.
In addition to Litecoin’s recent success, the Commodity Futures Trading Commission (CFTC) has officially classified both Ethereum (ETH) and LTC as commodities following 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, boosting investor confidence in LTC significantly.
Litecoin’s latest update, Core v0.21.3, was rolled out at the end of March, potentially contributing to today’s price movement.
The update focuses on speeding up MWEB adoption by simplifying access to MWEB through mobile wallets, as stated in a March 29 press release by Litecoin.
MWEB, or MimbleWimble Extension Blocks, introduce an optional layer of privacy for transactions, improving Litecoin’s fungibility and scalability.
The update details the integration of LIP006 and its server component into Litecoin Core, explaining the role of full nodes in the Litecoin Network, which validate transactions and blocks, preserving the network’s decentralized integrity.
The Litecoin Foundation plans to introduce mobile wallets fully supporting MWEB transactions later this year, aiming to establish Litecoin as one of the most fungible digital currencies, strengthening its position in the cryptocurrency ecosystem.
Ongoing collaborations with third-party partners to expand MWEB support are also mentioned in the update, showcasing Litecoin’s dedication to enhancing user privacy and network scalability.