Fork Confusion Propels Litecoin to 1-Month High Above $200

Source : Fork Confusion Propels Litecoin to 1-Month High Above 0
(LTC) is putting on a show today amid news a group of developers may seek to fork its blockchain, the fifth-largest by total value. The cryptocurrency was last seen changing hands at $216, a one-month high, according to data service  . Overall, LTC has appreciated by 33 percent in the last 36 hours, up over 100 percent from the Feb. 6 low of $106.94. Further, with the move, ’s market capitalization has jumped above $10 billion for the first time since Jan. 29. Still, the reasons for the move may give investors pause. LTC appears to be edging higher due to news of an upcoming fork called “ Cash,” which is promising new tokens to existing holders at block 1,371,111. For every 1 LTC held at block 1,371,111, holders will receive 10 LCC, according to the official website. However, there is a notable contingent that is warning about the new cryptocurrency. founder creator and the community have dismissed the project, calling it a “scam” meant to confuse owners. Bitcoin similarly boomed on the release of a rival blockchain called bitcoin cash last year, though there were perhaps more stark differences between the two technologies, both propelled by competing […]
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