After one of the most disappointing announcements for Litecoin so far that the promising LitePay project is not going to happen there have been many opinions expressed about the future of Litecoin itself. The official announcement about Litepay being cancelled was made quite recently making the Litecoin holders wonder if they should keep investing in the cryptocurrency or give it up.
As commented by the founder of Litecoin, Charlie Lee they ‘got too excited’ about the new project which was ‘too good to be true’. In fact LitePay was promised to be a real game changer in the industry as well as give a major value increase to LTC itself. The unique model of LitePay would deliver a perfectly clean and secure mobile app for holding and spending coins.
The transactions via this app would have been proceeded seamlessly without any fees. In addition there would be a Litecoin debit card which would allow making purchases at Visa-compatible points of sales that accepted LTC. Meanwhile we all remember that after the official announcement of the LitePay concept the value of Litecoin had increased measurably making the field experts give further positive predictions after the launch of LitePay as well.
After it became known that LitePay will not be launched, there has been some noticeable decrease in the value of LTC. At the same time it is important to note that before any announcements on LitePay at all, the cryptocurrency had been performing quite well and relatively stable for over 6 months.
In addition according to Litecoin Foundation there are still many important partnerships and other projects which will keep empowering the cryptocurrency making it easy for users around the world to use Litecoin.
All in all it is true that LTChas been a strong and well performing cryptocurrency so far in the market so giving up on one of the most popular cryptocurrencies currently out there can be just too early.