The crypto market has been seeking for a major impetus that could help the space hop onto the bulls. As the business has been dwindling in the midst of corrections. In the interim, veterans from the industry have been speculating the trends to be rhyming from 2017. Successively, Litecoin is now the talk of the town, as the asset gets the ball to its court.
Litecoin has been viewing an increase in whale accumulations off-late, the patterns of which have been the longest since 2017. The network apart from its boast worthy adoptions, acceptance, and developments, welcomes Omnilite. As it opens the doors to the creation and management of tokens. That further helps the network walk into the emerging sector of NFTs.
Will Litecoin Be The Flag Bearer Of The Alt Season?
As previously reported by CoinPedia, Litecoin has been exhibiting signs of retracement. Whales have been holding 10,000 to 1M LTC for straight over 15 weeks, which is the longest since 2017. The deep-pocketed investors have added about 5% of LTC’s supply in just 15-weeks time.
Successively, veterans from the industry are speculating history to rhyme, as the market has been trending in lines with 2017. Traders are now optimistic with Litecoin, as it was the asset that led the final leg of 2017’s bull run with BTC. The bull run was then led by ETH and other alts in the following year.
What further fuels the optimism revolving around Litecoin is the number of adoptions, acceptance and developments of the network. The makers have been working on Mimble Wimble, a privacy oriented decentralized protocol.
The protocol uses SegWit, which essentially segregates the digital signature, which constitutes 65% of the space in transaction from the transaction data to enable an increase in block size limits.
Litecoin aims to eliminate the need for L-2’s and scaling solutions unlike Bitcoin. However, it does support Lightning network, and Taproot making it an apt alternative to the star crypto Bitcoin.
What has been enthralling the community, is “Omnilite”, which enables creation and management of tokens. Omnilite opens doors to creating custom tokens, blockchain based crowdfunding, and issuance of NFTs.
Concluding, Litecoin is one of the most active blockchains in the world. The long period of whale accumulations, will bear the fruits for the network. Which inturn might give a head start to the much anticipated Alt season. Omnilite will be escorting the much needed impetus to the network, with the ability to mint NFTs, Litecoin will get its exposure to the future.
