Litecoin (LTC) has been the largest gainer within the cryptocurrency prime 10 over the previous 24 hours, information from digital foreign money tracker Coinmarketcap reveals.
The cryptocurrency made most of its positive aspects in in the present day’s buying and selling. Having traded principally sideways on Tuesday, Litecoin skilled a sharp increase within the early hours of in the present day’s session, gaining greater than $20 in simply a few hours. The Litecoin price reached an intraday excessive of $185.51 earlier within the session and is at the moment hovering round $180.
Earlier this week, a newly-created organisation introduced plans to provoke a tough fork to separate the Litecoin blokchain and create a brand new cryptocurrency referred to as Litecoin Cash. According to a press launch issued by the Litecoin Cash basis, the brand new blockchain will swap to SHA-256 hashing algorithm, which can be being utilised by Bitcoin and Bitcoin Cash.
The announcement prompted a response by Litecoin’s creator Charlie Lee, who turned to Twitter to warn LTC holders that the fork was almost certainly a rip-off.
“PSA: The Litecoin team and I are not forking Litecoin. Any forks that you hear about is a scam trying to confuse you to think it’s related to Litecoin. Don’t fall for it and definitely don’t enter your private keys or seed into their website or client. Be careful out there,” stated.
“Since on the topic of scams, any fork of Litecoin, calling itself Litecoin something or other, is a scam IMO. Litecoin Cash, Litecoin Plus, Litecoin *… all scams trying to confuse users into thinking they are Litecoin. This also applies to all Bitcoin forks trying to confuse,” he added.
In in the present day’s buying and selling, the Litecoin price stood at $180.84, as of 09:39 GMT. The cryptocurrency has gained 16.7% prior to now 24 hours.
For additional info on purchase and commerce Litecoin, see our complete Litecoin guide.