Charlie Lee, the creator of Litecoinone of many largest crypto belongings by market cap, has hailed the favored meme coin, Dogecoinfor its position in driving mainstream adoption of the crypto trade.
Lee went on to explain the meme token as being “nice” and “fairly enjoyable.”
Elon Musk and Dogecoin Helped Push Crypto Mainstream
In a current interview, the Litecoin creator conceded that the richest man on the planet, Elon Musk, additionally performed a task in making cryptocurrencies “a mainstream matter.”
His reward of Elon Musk and Dogecoin is unsurprising contemplating the position each have performed in bridging the hole between the crypto trade and the mainstream public.
The SpaceX CEO has spoken severally about digital belongings like Bitcoin, and others on his Twitter web page. Other than that, his electrical automobile maker firm, Teslaat present accepts Dogecoin as a fee choice for its merchandise.
That is coming after the identical firm invested closely in Bitcoin final 12 months and in addition briefly accepted the coin as a way of fee for its automobiles.
Apart from that, many of the spikes seen within the worth of Dogecoin in 2021 have been largely because of the tweets of the billionaire. Only recently, hey urged McDonald’s to just accept the meme coin as a fee choice for its meals.
Notably, Dogecoin was launched in 2013 from a defunct Litecoin fork known as “Fortunate Coin.” Its reputation nevertheless soared final 12 months because of Elon Musk and the GameStop inventory saga.
Litecoin Privateness-focused Improve is Lastly Reside
Litecoin is undoubtedly one of many oldest altcoins available in the market as it’s a Bitcoin fork for the perfect a part of the final decade.
Not too long ago, the community carried out its long-awaited privateness improve, tagged Mimblewimble. Like Monerothis improve would permit customers to have the ability to preserve their monetary transactions away from the prying eyes of the general public.
In line with Lee, this improve will allow customers to spend with out the necessity to trouble about privateness points. With this improve, solely the events concerned in a transaction are in a position to know the quantity that was transacted.
Apparently, Charlie Lee doesn’t maintain any items of Litecoin. In 2018, he offered all of his holdings proper earlier than the market crashed. This led to accusations of inside buying and selling.
Nonetheless, Lee has denied any wrongdoing saying his focus is on how the undertaking’s applied sciences work and never how these upgrades have an effect on the asset’s worth efficiency.
As of press time, Litecoin is buying and selling for $112.
This text was initially posted on FX Empire