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Litecoin may not be deemed as an “altcoin” much further as new report suggests Ethereum brewing as an asset

Bitcoin

A new report was published by the San Francisco Open Exchange (SFOX) recently. It spoke of how Ethereum has slowly metamorphosed and may not be an altcoin anymore.

“This may support the idea that Ethereum is coming into its own as a blockchain that is publicly recognized as an asset on its own terms, much like Bitcoin. If this trend continues, it may becomes inappropriate to categorize Ethereum as an ‘altcoin’ on a par with other cryptoassets that are not bitcoin.”

The problems associated with LIBRA had caused the market to go topsy-turvy. At first, analysts had said a bullish climb to $20,000 was incoming. This proved to be hearsay, as volatility still prevails even though the king coin has reached $13,800 a while back.

The Litecoin Foundation [in particular Charlie Lee] was greatly inspired by the Bitcoin network. As Bitcoin is dubbed as “Gold 2.0” or digital gold, Lee calls Litecoin “Silver 2.0”. The fees related to transactions involving LTC is negligible, while during peak times transaction fees surge for BTC.

Also, a deal with the UFC and the Foundation may be something to be considered. Charlie is a huge fan of fights, and Kickboxing [other than soccer] is a sport that Litecoin has been closely associated with.

In light of this analysis by the SFOX, LTC being designated as a full-on digital asset is wholeheartedly possible. A couple of weeks ago, the Flexa integration of LTC was hailed as a phenomenal move, as the platform has access to over 39,000 merchants across the globe. Most people said that this deal came about as the halving is to occur in a short while.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.