Litecoin Price Spikes After Successful SegWit Activation

Litecoin has grabbed the headlines as the cryptocurrency beat off yesterday’s falls and rose to the new all-time high of over $35. Now, the cryptocurrency is traded at $30 level as of the moment of writing.

Litecoin community has been waiting for the activation of Segregated Witness on the network for weeks and finally the moment has come. Litecoin’s huge support is seen as a culmination of several weeks of investor excitement.

Some people doubt if this “pump” should have taken place because it was known that SegWit was to be activated within a specific timeframe. After all, the mining pools got together to pledge SegWit support, effectively locking in the activation threshold.

Litecoin is not the first altcoin to implement SegWit on the network. Last month, SysCoin was the first to activate SegWit while this week Vertcoin followed. Both coins experienced considerable price spikes. Nevertheless, Litecoin is the first major currency to do so. It means that it has a competitive edge over Bitcoin. Litecoin never had full network blocks to deal with.

Litecoin creator Charlie Lee announced the activation of SegWit in Twitter.

SegWit has activated on Litecoin! 💥😁 pic.twitter.com/lpeklpQpZe

— Charlie Lee (@SatoshiLite) May 10, 2017

Lee

Read more ... source: TheBitcoinNews

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