The cryptocurrency market over the past few days has been struggling to get out of the bear’s grasp with popular cryptocurrencies like Bitcoin [BTC], Ethereum [ETH] and Litecoin [LTC] struggling to get out of the sideways price movement.
Litecoin [LTC] has seen quite a few updates over the past week with the Foundation teasing its latest update: Litecoin Core 0.17. The USP of the latest development, according to the Foundation, is the lower network fees. The official post stated:
“The average transaction fee as it stands on the network is Ł0.001 per KB or ~$0.05. With the announced changes that will soon become Ł0.0001 per KB or ~ $0.005, half a cent and back at 2015 levels.”
The officials from the organization have said that they were able to reduce the fees because of the number of empty blocks on the Litecoin blockchain.
Litecoin got another push towards mainstream adoption when Marks Jewelers, a prominent jewelry retailer, informed customers that they would start accepting LTC as a form of payment, in addition to Bitcoin [BTC], Bitcoin Cash [BCH] and Ethereum [ETH].
Joshua Rubin, the Director of Marketing for Marks Jewelers went on to say:
“We’re very excited to begin accepting cryptocurrency payments from our customers around the world. This will allow us to make our fine jewelry available to the global market while paying lower fees and avoiding chargebacks. Marks has long been known for our meticulous craftsmanship and curated selection, and we are thrilled to open our store to the world.”
The past week also saw Litecoin getting listed on Gemini, one of the popular cryptocurrency exchanges around the world. The update announcement riled up the whole community with Nova, a Twitterati stating:
“Instead of liquidity, you should be working towards adoption. Smfh. The community is shouting Pay With Ltc and you are out here looking for exchanges lol da faq? #ltc #litecoin @SatoshiLite have you not realized the value of Ltc falls every time you add an exchange. Stop ‘helping’”
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