Litecoin price (LTC/USD) rises as LTC debit card announced

Litecoin price (LTC/USD) rises as LTC debit card announced

Litecoin (LTC) saw some poor trading during yesterday’s morning session, with its price tumbling to an intraday low of $129.75, from an opening level of $134.47. However, the situation changed dramatically in the early afternoon, when the coin experienced a sharp price increase that sent it back in the positive territory. Litecoin finished the day at $135.16, slightly below its highest level for the day ($135.92).

LTC experienced another surge during today’s morning session, rising to $138.90, a four-day high. The coin has since pulled back to lower levels and is currently trading at around $137.80, according to data from digital currency tracker Coinmarketcap. Still, having gained over 2% in the past 24 hours, LTC is currently the best performing digital coin in the crypto top 10.

Litecoin Froundation to launch debit card

The Litecoin’s price jumps may have been driven, at least in part, by recent news that the Litecoin Foundation plans to release a physical debit card. The foundation announced yesterday that it had teamed up with Bibox Exchange and Ternio to release a special edition Litecoin BlockCard, which “will enable users to spend the value of their cryptocurrency either online or in physical store locations, anywhere in the world where major credit cards are accepted”.

“This is an exciting partnership for us as it furthers the Litecoin Foundation’s mission to create more use cases for spending Litecoin in everyday life,” Litecoin’s creator, Charlie Lee, said in a statement. “Leveraging Ternio’s BlockCard platform with Bibox’s exchange engine gives Litecoin holders unparalleled access to use their LTC at merchants around the world.”

In today’s trading, the Litecoin price stood at $137.45, as of 15:35 BST. The digital coin has gained 2.2% in the past 24 hours. Its total market capitalisation currently stands at just over $8.5 billion.

Featured image: Lukasz Stefanski / Shutterstock.com

 

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