The situation on the cryptocurrency market is gradually stabilizing after the recent collapse. The virtual money is growing amid upbeat news. One of the top cryptocurrencies, Litecoin, was able not only to recoup its losses but also to go further up. The news on the Litecoin deal with Visa boosted the growth of the cryptocurrency.
As soon as the details of this agreement were revealed, Litecoin started a rapid increase. In a day, the price skyrocketed by 36 percent. This jump allowed the currency to take the fifth place in the list of market leaders. The LTC capitalization reached $11.9 billion, getting ahead of Cardano with a capitalization of $10.1 billion. According to the press release, in the nearest future, the companies plan to introduce the LitePay payment system compatible with Visa. The system will allow Litecoin users to convert Litecoins to dollars and vice versa via LitePay cards. Businesses will be able to accept the cryptocurrency for payments as well.
In addition, the blockchain fork also provided support to Litecoin growth. Charlie Lee, one of the creators of LTC, sold and donated to the charity all of his holdings of this currency to avoid a conflict of interest in the future. Last year, Litecoin rose by 75 times and has been recognized as one of the fastest growing cryptocurrencies in the world. For comparison, bitcoin rose by 17 times during the same period.