Litepay is dead

Litecoin(LTC) has fallen by about 10% today on the news that Litepay is dead and is being sold off. After the Litepay launch that was a flop last month, the litepay company has no way to fund itself anymore and will be shut down and sold off. Litepay is not affiliated with litecoin and is an independent company so it should not effect the operations of the litecoin foundation. However, this does mean that mass widespread adoption is still pretty far away for cryptocurrencies and the bearish market for LTC will continue for a little while longer until the overall market really begins to rebound. I do not expect prices to sink much lower as litepay was already a flop and this should not be anymore than a knee-jerk reaction to the last dying breathe of a company that was already semi-defunct.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: