Litecoin, the brainchild of Charlie Lee, former Google developer and Coinbase director, has seen some better times in the past. Up until recently it held the no.5 spot of coinmarketcap’s list of top cryptocurrencies, but it lost that spot thanks to an amazing growth period which EOS experienced. Litecoin itself, while a coin with good fundamentals, went through a period of relative stagnation and mostly followed Bitcoin and its movement.
Recent Bitcoin downtrend sent Litecoin price spiraling down a bit. In a relatively short time frame it dropped from $160 to $138.01, which is its valuation at the moment of writing. Its stagnation could make it drop even further in cmc’s market cap list, if Cardano manages to pick up the slack and gain about 1 billion in market cap.
Litecoin could clearly be doing better, which made Charlie Lee and his team introduce two new social media campaigns. The campaigns are aimed at Twitter users and they are called #LitecoinAcceptedHere and #PayWithLitecoin.
Campaign was initiated in late April when Litecoin Foundation tweeted out a question: Does your business accept #Litecoin? Many businesses applied and the two abovementioned hashtags have been trending since. The campaign seems to be picking up the pace, as more and more businesses are posting under the hashtag, claiming they do in fact accept Litecoin payments. Coin developers seem to be determined to follow this marketing path: spreading awareness of its product by having small and medium sized businesses accept it and promote it as a payment method.
One pretty large project accepted Litecoin as a payment method on April 25th and that project is WikiLeaks. Jullian Assange has always admired blockchain and cryptocurrencies so this recent turn of events surprises no one.
Things are looking bright for Litecoin. A strong and enthusiastic community can bring a cryptocurrency to a new level. Litecoin has great fundamentals and social media campaigns like these are more than welcome, if not overdue to happen. It remains to be seen if they will be as effective as the community hopes and if Litecoin will be staking a claim for that no.5 spot of the cmc list anytime soon.
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