Earn Free Bitcoin
  • Litecoin SegWit (Segregated Witness) has recently reached 80%. 
  • Bitcoin’s SegWit rate is only at 50%. 
  • BTC proponent Alistair Milne rallied against “bad actors” that have not adopted SegWit so far.
  • LTC/USD is flirting around the $65 level.

Litecoin creator Charlie Lee recently took to Twitter to announce that Litecoin’s SegWit (Segmented Witnesses) has reached 80%. On the other hand, Bitcoin’s SigWit rate is only at 50%. 

Litecoin has always trumped Bitcoin concerning SegWit adoption. The massive surge in fees that accompanied Bitcoin’s bull market in 2017 led BTC devs to build a soft fork that enabled the SegWit upgrade on the Bitcoin chain. 

Litecoin’s SegWit usage has been increasing over the past three years. This has resulted in a significant decline in the network’s transaction fees. BTC proponent Alistair Milne tweeted his thoughts on the matter. He raised his concerns against “bad actors” such as Blockchain.com that have not adopted SegWit so far. According to Milne, the speed of SegWit penetration on BTC will soon drive nonadopters to either conform or risk their revenue margins decline.

LTC/USD daily chart

LTC/USD daily chart

LTC/USD encountered massive resistance at the $67.50-line and then proceeded to fall for two straight days. So far, the price has dropped from $65.57 to $65 in the early hours of Wednesday. The relative strength index (RSI) has crept below the overbought zone, while the Elliott Oscillator has had four consecutive green sessions. The price chart shows one strong resistance at $67.50. On the other hand, we have two healthy support levels at $64.05 and $61.75.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Read More

Earn Free Bitcoin


Please enter your comment!
Please enter your name here