Litecoin is Still on the Rise, Testing $8 USD

9 Jul
2015

litecoin-price-on-the-rise

The exchange price of Litecoin (LTC) is still on the rise with the alternative crypto currency already testing the $8 USD target and this has caused a lot of speculation about the reasons behind this recent rise. Some people say it could be due to the recent high load on the Bitcoin blockchain and transactions processing slow due to a lot of unconfirmed ones in the backlog. Other say the reason could be just another pump and dump scheme by a big player with a lot of coins. Another plausible possibility is due to the upcoming fist halving of the LTC reward at the end of August, or the unfavorable situation in Greece at the moment or that on the issues with the China stock markets and the list goes on and on…

Regardless of the reason behind the jump in the exchange rate it is already causing increased demand for Scrypt ASIC miners and services offering Scrypt cloud mining, however nowadays these are scarce and had to find. The best thing you can probably get at the moment is an Innosilicon A2 Scrypt ASIC miner at a discounted price if you manage to find yourself a good deal for a SilverFish Scrypt Blade miner. With Bitmain Tech and ZeusMiner canceling their Scrypt ASIC projects last year (maybe they can restart them if the trend continues) and KnCMiner stopping to sell their Titan Scrypt ASICs and any other ASIC miners to end users there is just one new interesting option coming up. The new SFARDS SF100 Dual-Miner ASICs that are supposed to be available later this month, though SFARDS is still keeping silent about their pricing and expected availability is said to be July.

In the end it is good that we are finally seeing some movement surrounding LTC along with some other Scrypt crypto currencies as nothing much has been happening around Litecoin in the last few months, so the recent price jump and revived interest is definitely a good thing for people that are into altcoins. Especially now that Bitcoin mining is moving away from home miners and more and more towards large mining farms, whereas Scrypt mining is still at a phase where it is still focused mostly in the hands of small mining operations. So we are keeping a close eye on the development around Litecoin and so should you…



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2 Responses to Litecoin is Still on the Rise, Testing $8 USD

Dem0n

July 10th, 2015 at 19:23

It’s already crashed back down to $5 in a matter of hours…

Javier

July 13th, 2015 at 19:03

I think this pump and dump was a preliminary test to check the response of the markets and there will come a bigger one as the halvening approaches. What do you guys thing?

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