Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Bitcoin News Today: Luxxfolio Bets Big on Litecoin's "Digital Silver" Rise

Bitcoin News Today: Luxxfolio Bets Big on Litecoin's "Digital Silver" Rise

ainvest2025/08/29 06:27
By:Coin World

- Canadian crypto firm Luxxfolio shifts focus to Litecoin (LTC), seeking $73M funding to capitalize on its faster transactions and lower fees compared to Bitcoin. - Litecoin's "digital silver" status grows as adoption rises, with 76.22M circulating coins and technical analysis projecting potential $626 price by 2023. - Strategic pivot reflects industry trend toward altcoins with real-world use cases, as Litecoin gains merchant acceptance and integrates privacy-enhancing protocols. - The move highlights Lit

Canadian cryptocurrency firm Luxxfolio is preparing to raise up to $73 million in funding after shifting its strategic focus to Litecoin (LTC). The firm has pivoted from its earlier emphasis on a broader range of digital assets to concentrate on the altcoin, which has shown increasing adoption and potential for growth in the crypto market. The move underscores a growing investor interest in Litecoin as an alternative to Bitcoin , with Luxxfolio positioning itself to capitalize on the momentum surrounding LTC's faster transaction speeds and lower fees [1].

Litecoin, created in 2011 by former Google engineer Charlie Lee, has long been considered "digital silver" to Bitcoin's "digital gold." Its technological advantages include a faster block generation time of 2.5 minutes compared to Bitcoin’s 10 minutes, allowing for quicker confirmations and greater scalability. The coin also uses the Scrypt proof-of-work algorithm, making it more accessible for consumer-grade hardware and enhancing its appeal for decentralized mining. These features have made Litecoin a preferred option for users and merchants seeking faster and more efficient digital transactions [1].

The cryptocurrency's circulating supply stands at approximately 76.22 million coins, with a maximum supply of 84 million, significantly higher than Bitcoin's 21 million cap. This larger supply has contributed to Litecoin's lower market capitalization relative to Bitcoin, but it also means the asset is more accessible to a broader range of investors. Recent technical analysis has suggested that Litecoin could potentially reach $626 by 2023, driven by increasing adoption and integration with second-layer technologies like the Lightning Network, which supports micropayments [1].

Luxxfolio’s strategic shift highlights a broader industry trend toward altcoins with tangible use cases and real-world applications. Litecoin has been increasingly accepted as a payment method by businesses such as Travala, eGifter, and RE/MAX, and has also seen growing utility in countries like Japan, South Korea, and the United States. The Litecoin Foundation, a non-profit organization, has also played a key role in promoting adoption through education, development, and community-driven initiatives. These efforts have helped position Litecoin as a viable option for both investors and users seeking a more scalable and faster digital currency [1].

The firm’s fundraising initiative reflects a cautious yet optimistic outlook for the cryptocurrency’s future. Analysts note that Litecoin's upcoming integration of the MimbleWimble privacy protocol could enhance its appeal further, offering improved scalability and privacy for users. As the crypto market continues to evolve, Litecoin's unique position between Bitcoin and smaller altcoins may offer a compelling investment opportunity for those looking to diversify their digital asset portfolios [1].

Bitcoin News Today: Luxxfolio Bets Big on Litecoin's
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

SEC Faces Deadline for Grayscale XRP ETF Decision

TheCryptoUpdates2025/10/18 23:54
SEC Faces Deadline for Grayscale XRP ETF Decision

Ethereum Bulls Remain Unfazed: Analyzing Market Confidence After $232 Million Liquidation

Ethereum’s price is fluctuating around $3,700, influenced by US credit and labor data, with traders cautiously avoiding high leverage. Whale activity indicates limited bearish sentiment, but there is insufficient confidence in a rapid rebound. No warning signals have been observed in the derivatives market, and a recovery will require clearer macroeconomic signals. Summary generated by Mars AI. This summary is produced by the Mars AI model, and the accuracy and completeness of its content are still being iteratively updated.

MarsBit2025/10/18 22:32
Ethereum Bulls Remain Unfazed: Analyzing Market Confidence After $232 Million Liquidation

BNY Mellon Empowers Crypto Ecosystem with Robust Infrastructure

In Brief BNY Mellon enhances its crypto ecosystem role through infrastructure services, not its own coin. The bank supports stablecoin projects instead of launching an altcoin amid positive market conditions. BNY Mellon prioritizes infrastructure over token issuance, promoting collaboration and ecosystem strength.

Cointurk2025/10/18 21:27
BNY Mellon Empowers Crypto Ecosystem with Robust Infrastructure

Crypto Surge Revives Investor Optimism

In Brief The crypto market exhibits signs of recovery post-major liquidations. Ethereum, Dogecoin, Cardano, and XRP have shown significant gains. Technological innovations and ETF expectations contribute to market optimism.

Cointurk2025/10/18 21:27
Crypto Surge Revives Investor Optimism