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Flare network will integrate Litecoin

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The Litecoin (LTC) network will soon have smart contracts thanks to a planned integration with the Flare Network in Q2 of this year. The latter platform is the same one with plans of integrating the XRP ledger in a similar manner when the Flare Network is launched in the second quarter of 2021.

Litecoin holders will have a chance at receiving 5 Billion Spark Tokens (FLR) in the form of an airdrop. The team at Flare Networks explained that the additional tokens will come out of their personal bags and not from the allocation meant for XRP holders. Details of the distribution will be announced in the days to follow.

In terms of price, Litecoin is currently few dollars shy of the crucial $200 level. At the time of writing, Litecoin is trading at $169 to $182,  as a result of a parabolic move from mid-December mimicking that of Bitcoin.

December 12th found Litecoin trading at around $72 with Bitcoin at $18k. Bitcoin has since gone on to set an all-time high of $41.973 – Binance rate – with Litecoin posting a local high of $185. If the current crypto market momentum is maintained, Litecoin could very well claim the $200 price area as support and possibly attempt to break its 2017 all-time high of $375.

As with all analyses of altcoins such as Litecoin, traders and investors are advised to use adequate stop losses and low leverage when trading LTC on the various derivatives platforms.

source: crypto-news-flash.com

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