Litecoin has also been experiencing significant growth over the past few days. In particular, in the last week LTC has collected a increase close to 30%, ranking 22th in the CoinMarketCap ranking, with a market capitalization that exceeded $ XNUMX billion.
An impetus which could continue for a long time, at least according to the considerations of the Litecoin team. Indeed, the developers have found that data metrics such as those relating to the values transferred and the numbers of transactions show an increasing interest in it.
Litecoin: the growth factors that are favoring it
What are the factors that are driving Litecoin's listing? Meanwhile, the announcement made in April by PayPal, which launched “Checkout with Crypto", a program which allows customers to pay with BitcoinLitecoin Ethereum e Bitcoin Cash.
While MasterCard e Visa for their part they have made improvements in order to integrate cryptocurrencies into their payment networks. A trend that could soon be followed by many other payment companies.
And also from many other realities. Starting with the oldest national park in Africa, Virunga, which recently announced its intention to accept donations in Ethereum, Litecoin, Bitcoin, chainlink and many other cryptocurrencies.
Litecoin moves towards privacy
Then there is another growth factor which has been little considered up to now, but which according to some observers would be fundamental. That is the increasingly pronounced trend towards privacy, recently made official with the introduction of MimbleWimble Extension Block (MWEB). The Litecoin Foundation has in fact revealed that, after more than a year of development, the "complete code" is finally available. Consequently, the formal control by other developers has begun which has been successful allowing theincorporation into the main code of Litecoin in order to have it ready for node operators and miners.
What is MimbleWimble?
In practice, MimbleWimble is a protocol which mixes different technologies such as confidential transactions, with hidden amounts, and CoinJoin.
In particular, thanks to the Extension Blocks it is possible to create a kind of interconnected adjacent chain which runs next to the main one. With the result of going to achieve a better fungibility and a higher level of privacy. The functionality will remain optional and those who want to take advantage of it will need to have a wallet equipped with specific functions to be able to interact with the MWEB chain.
The community sentiment towards LTC is very high
Another factor should also be underlined which seems capable of fueling Litecoin's growth for a long time. Its community, in fact, is among those that show the highest sentiment towards a token. In fact, it is enough to look at the data of Feel in this regard to note how LTC fans are among the most motivated ever.
A trend which has continued to remain at extremely high levels for months now, laying the foundations for an increasingly rosy future. And, consequently, capable of fueling Litecoin's bullish behavior. Especially at a time when there are many projects that seem ready to make the cryptocurrency market soar again, dragging the entire sector behind them.