Litecoin (LTC) Announces Release of Major Upgrade
The new version offers improved efficiency for power users, but it needs further testing before it can be recommended to all users.
Users of Litecoin (LTC) have the option to install a major new upgrade, version 0.17.1, which offers better performance and improved translation. The project team warns that running the new version and then attempting to switch to an older one may require re-downloading the whole blockchain, as in the case of those trying to run a full node.
Due to a relatively involved upgrade process and some minor glitches, the new version is recommended only for testing and for experienced users.
The upgrade arrives at a time when LTC is expanding its role in the crypto ecosystem, inviting new traders and registering robust market activity. The asset traded at $56.04 as of 13:00 UTC on Thursday, posting volumes of more than $2.1 billion’s equivalent in the past 24 hours. While a larger breakout remains uncertain, LTC has already inched up to 0.014 BTC, gaining significant ground against the leading coin.
In the past few months, LTC has also seen mining pick up in addition to its price reviving. The network reached a three-month mining peak of 267 TH/s, returning to levels last seen in October 2018. LTC is often called a “dead” asset, but the price action and activity usually show that it easily lines up among the top coins.
Based on Blocktivity information, LTC has more than 27,000 transactions in 24 hours. The coin is also relatively simple to use for everyday spending.
LTC also keeps gaining traction with a promise for going even higher, repeating previous peak prices.
The asset will now have to hold firm above the $56 level. It bottomed out at around $22 in December 2018 but has since picked up steam.
LTC is also attractive for the upcoming halving of the reward to 12.5 LTC per block, which is expected to happen in less than six months. Halving events usually have a positive effect on the price.
Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses made as a result of this information. Cryptocurrency trading and investing are risky propositions, and market participants are advised to always conduct thorough research.