On Wednesday (June 30), popular pseudo-anonymous crypto analyst and influencer “Credible Crypto” commented the recent price action of one of the most popular large-cap cryptocurrencies.
The analyst told his over 220K followers on Twitter that although many people are claiming that Litecoin has already had its “bull run” and is now “headed to the grave”, he believes — despite not trading using fractals — that just like Litecoin staged a Q4 2017 rally took its price all the way to $305 in early December 2017, a similar huge rally awaits Litecoin and several other “old” popular large-cap coins.
According to data by TradingView, earlier today (at 09:53 UTC on July 3), on Coinbase, the Litecoin price reached $140.65 (which is still the intraday high at the time of writing), up 7% in the past 24-hour period.
Last month, the Litecoin Foundation announced that in cooperation with cryptoasset broker Voyager Digital and and crypto startup Hedge (which makes it easier to receive your salary in BTC, LTC, or ETH) it would sponsor the #4 car (driven by Landon Cassill) in the NASCAR Xfinity Series. The sponsorship is being paid for using a basket of cryptocurrencies led by LTC and VGX. This car will be driven in 19 NASCAR Xfinity Series races this season; the first race was on June 19.
The NASCAR driver said that Litecoin creator Charlie Lee has been a “good friend” for years and that he is the person who helped him to understand LTC when he first started mining it in his basement. Cassill also mentioned that crypto is changing the lives of many people and this is why he decided to accept a sponsorship deal paid for 100% using crypto.
And Lee said that this deal demonstrates “the growing reach of the Litecoin community into the professional sports world and, eventually, beyond.”
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.