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Home»BLOCKCHAIN NEWS»Litecoin rises 8% on mobile upgrades, acceptance of regulated products
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Litecoin rises 8% on mobile upgrades, acceptance of regulated products

By Crypto FlexsApril 2, 20242 Mins Read
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Litecoin rises 8% on mobile upgrades, acceptance of regulated products
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Litecoin stood out, rising 8% to $107 per coin, thanks to mobile upgrades and regulatory acceptance as a commodity.

The price increase of Litecoin (LTC) significantly outperforms its market counterparts, putting it among the top 15 cryptocurrencies by market capitalization currently experiencing growth, according to CoinMarketCap.

Adding to Litecoin’s recent success, the Commodity Futures Trading Commission (CFTC) has officially classified Ethereum (ETH) and LTC as commodities following its legal proceedings against KuCoin.

This classification not only highlights the importance of Litecoin in the digital asset space, but also coincides with Coinbase Institutional announcing the listing of Litecoin Futures on its platform, significantly boosting investor confidence in LTC.

Litecoin 24-hour price on CoinMarketCap

Litecoin’s latest developments, upgrades

Litecoin’s latest update, Core v0.21.3, was released in late March, potentially giving a boost to today’s price action.

“With this update, we are focused on accelerating MWEB adoption by making MWEB more accessible than ever through mobile wallets,” Litecoin said in a March 29 press release.

The MimbleWimble Extension Block (MWEB) improves the fungibility and scalability of Litecoin by introducing an optional layer of confidentiality for transactions.

This update details the implementation of LIP006 and its server components on Litecoin Core, and explains the role of full nodes within the Litecoin network in validating transactions and blocks and maintaining the decentralized integrity of the network.

“Running a full node is as simple as finding a computer with at least 160GB of free disk space to run continuously,” the press release said.

Looking ahead, the Litecoin Foundation has announced plans to introduce a mobile wallet with full support for MWEB transactions later this year. Litecoin aims to strengthen its position in the cryptocurrency ecosystem by becoming one of the most fungible digital currencies.

The update also mentions ongoing collaboration with third-party partners to expand MWEB support and highlights Litecoin’s commitment to improving user privacy and network scalability.

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