If you’ve been following the latest developments on the crypto market and regularly learn about Bitcoin, you know that it’s doing even better than expected. The largest cryptocurrency by market volume has soared to new price heights over $60,000 and looks primed to go even higher. Just like always, it has dragged many other coins up, although some have done fairly well on their own.
Litecoin is one of the most interesting stories on the cryptocurrency market right now. Although it’s nowhere near Bitcoin and Ethereum in market capitalization, you’ll see it highly recommended. It’s a very popular choice for crypto casino players, and an excellent choice for investors too. Its price will soar in 2022 and beyond, and the seeds have already been planted this year.
The Commonwealth Bank of Australia Jumps on the Litecoin Train
One of the leading Australian banks, the Commonwealth Bank, has joined the crypto hype train. It now allows its customers to buy, sell, and hold Litecoin, the first service of its kind in the land down under. As soon as the news went live, LTC’s price went up, soaring to over $200. That’s not the last of it. According to crypto experts and analysts, the price could jump to $1,000 in the upcoming altcoin season, which would be a huge win for the promising cryptocurrency.
On-chain activity on the LTC network also hit its peak after the release of its debit card. Those who have signed up for the card can use it at almost 50 million web merchants, something not many other coins offer. The price has blown overall records so far, triggering a record 140,000 LTC transactions in the past few weeks.
The Commonwealth Bank of Australia is one of the earliest banks to offer the ability to buy and sell LTC. The service was created with the help of Gemini and will be launched soon. The pilot and first plans will be detailed soon in a phased rollout to customers by the end of the year and at the beginning of 2022.
Thanks to the ongoing bull run and the CommBank launch, experts now believe that Litecoin’s price will continue growing. The most optimistic among them believe it can hit $1,000 and some expect it to even go higher. It’s surely in a great position to do so considering the recent Bitcoin bull run and the situation with cryptos around the world.
Second Most Transacted Crypto at BitPay Merchants
Litecoin is currently scoring on every front. Besides the planned CommBank launch, it just became the second most transacted crypto at BitPay merchants. That’s a huge win for the world’s 17th biggest crypto by market volume and a sure sign that this isn’t a meme coin or a bubble that’ll burst soon.
The cryptocurrency market is growing exponentially and unlike 2017 when the bubble burst, this time things are much better. Bitcoin and Ethereum are at an all-time high and Litecoin is following in their footsteps. With support from major banks such as CommBank and JPMorgan reiterating its stance on Bitcoin, things are likely to get even better.
In the coming weeks and months, the price of Litecoin is expected to climb. As more and more users join the LTC army, it’ll become a serious threat to the bigger coins. While it’s not likely to catch up with Ethereum and Bitcoin soon, it’s on the right path. No one could have believed that Litecoin would get to where it is today, but it’s slowly turning into one of the most valuable assets on the crowded crypto market.