Litecoin (LTC), one of the most popular digital assets in the market, has reached the fourth largest position in the market. This price increase seems to be related to the fact that Charlie Lee, the founder of Litecoin, is talking with the team behind MimbleWimble to implement privacy features on Litecoin.Litecoin Skyrockets 30% In Less Than a Day
Litecoin has skyrocketed 30% in just 24 hours according to CoinMarketCap. The popular virtual currency, that was traded during the last six months between the 6th and 9th position is now the fourth largest digital asset.
The cryptocurrency moved from $33 to $43 in just a few hours, reaching a top value of $45.86. Its market capitalization has also grown from $2 billion up to $2.65 billion. Some analysts are suggesting that the current bear market could have ended. Litecoin was not the only digital asset that grew in the last 24 hours. All the top 100 virtual currencies are registering price increases.The Reasons Behind Litecoin’s Growth
There are two reasons that helped Litecoin register such a large price increase. The first thing is related to a comment that Charlie Lee, Litecoin’s creator, made. A few days ago, Charlie Lee tweeted that the team has been talking with the Beam Privacy team. Beam Privacy is in charge of the MimbleWimble implementation.Team has been chatting with the @vcorem and @beamprivacy team about MimbleWimble on Litecoin with Extension Blks. Pleasantly surprised that Beam has already implemented switch-commitments w/ ElGamal. It's a safety switch to protect against quantum computing breaking CT soundness. — Charlie Lee [LTC⚡] (@SatoshiLite) February 6, 2019
This comes just a few weeks after Lee announced that they are working on fungibility implementations. The main intention was to add Confidential Transactions. At that time, Lee said that it might be difficult to implement MimbleWimble.Fungibility is the only property of sound money that is missi...