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Bitcoin Cash and Litecoin Tie on Transaction Levels

Bitcoin Cash and Litecoin Tie on Transaction Levels

March 8, 2018 7:05 am,

Bitcoin Cash and Litecoin Tie on Transaction Levels

As stated by Bitinfocharts, Litecoin has been on a slow downtrend subsequently the beginning of the year with fewer transactions per day. Its last spike was 225k transactions on January 4 when the price was too heading over $300. Bitcoin Cash only exceeded LTC once in the past three months on January 14 when it touched 110k transactions.

Litecoin has been above Bitcoin Cash as mid-January by nearly double though the two have been gradually coming together. Yesterday BCH transactions touched around 38.5k whereas Litecoin recorded 37.5k. There have been a number of smaller spikes in the transaction numbers for both altcoins. So it has yet to be determined whether this is an extended term change in trends or just extra spike.

Litecoin did not get the boost it expected from the introduction of LitePay which was supposed to bring the altcoin to the crowds with stress-free credit card payments. This never occurred and only the merchant component of the service was rolled out. As an outcome, LTC has failed to continue its first upward spurt then early December and has happening to slide back towards $200.

Bitcoin Cash has also been on a descending slide since mid-December and it has lost almost 70% of its value since its all-time high of just over $4,000. Its deal chart looks far more linear than Litecoin’s which increases and falls with normal usage of the asset.

At the instant, this doesn’t look probable as they have both preserved a stable gap for a couple of weeks now. Bitcoin Cash remains the fourth most general cryptocurrency with $21 billion while Litecoin, only one place behind it, has nearly half at $11 billion. It will need an enormous statement or partnership to increase levels enough to overtake BCH in the short term.

Over an extended period, it seems further likely if BCH loses its demand due to more Segwit and Lightning Network acceptance for its big brother BTC. The race goes on in the cryptodrome.