Litecoin (LTC) once again proved its stability, falling slightly to $127.80. LTC is going through a phase with low, but consistent trading volumes, and a relatively stable price. The community sees LTC as remaining stagnant, while working toward adopting the Litecoin network for everyday payments.
Accidentally, Litecoin had a John McAfee promotion, with an unknown effect on price. But the more substantial news around the LItecoin project have to do with the LitePal system, which is already accepting registrations.
What acted as a negative weight on the LTC price was the fallout with the LitePay startup, where the Litecoin Foundation apologized for not doing enough due diligence. The other potential avenue for development is the addition of LTC into the TenX wallet, with the option for a payment card added. For now, the LitePal platform will have to earn its trust. So far, the solution is in the preliminary registration phase.
So far, the Litecoin foundation and team, along with Charlie Lee, are busy popularizing the asset, while not focusing on the price. Litecoin has also come up with a warning that its price could decline sharply, as it did a few months ago. LTC was expected to vault the $500 level, but it retreated to less than $100 in the February market shakedown, away from a $370 peak.
Risky Wallets Discovered
Using a version of the open source Electrum wallet for any coin hides risks. Third parties may spread contaminated wallets that steal funds. For now, two dubious links were discovered, as users are urged to use the official Litecoin Core wallet and not resort to the dubious downloads from electrumltc.org, or electrum-ltc.org.