Litecoin on 4 Hour Chart, Started Another Day in a Downtrend
Litecoin (LTC) started the current 4-hour candle at $48.23. And this is higher by 0.19% or $0.09 from the last 4-hour candle. Compared to other instruments in the Top Cryptos asset class, Litecoin ranked 4th in the previous 4-hour candle regarding the percentage price change.
Moreover, Litecoin declined by 1.18% or $0.57 since the previous day, marking the second consecutive row a decrease has happened. The said move occurred on lower volume – as yesterday’s volume fell 21.43 from the day before and lowered by 1.9% from the same day last week.
Among the five instruments in the Top Cryptos asset class, Litecoin got 4th place for the day in terms of price change relative to the previous day.
For its technical analysis, see that LTC is almost in its 100- and 200-day moving averages. And this may serve as a price barrier for the asset. During the last couple of weeks, volatility for Litecoin has been contracting relative to volatility over the past month. Traders are keeping a close watch on whether volatility reverts.
Then, trend traders would observe that the strongest trend appears on the 30-day horizon. And over that time, the price has been moving down.
Also, on a 14-day basis, the price seems to be forming a base – which might stage for it being a support or resistance level going forward. On the other hand, consider Litecoin price has gone up 8 of the last 14 trading days.
RPG on Litecoin Blockchain
Meanwhile, Litecoin Foundation prepared an online event on September 15. LTC creator Charlie Lee and CipSoft SEO Stephan Vogler revealed the launching of LiteBinger – a role-playing fantasy game that operates on top of the Litecoin blockchain.
Lee stated, “It’s the first major game that utilizes the Litecoin blockchain for all of its interactions.”
According to Vogler, they fully decentralized the game – meaning all users need to run a Litecoin node to play. Also, he mentioned that access is entirely dependent on players holding at least several LTC on hand. In the report, the game includes a ‘Litecoin faucet,’ allowing some users to get a few LTC for free if they are not willing or can’t transfer their own.
Vogler also said that each move in the game is a transaction on the Litecoin blockchain that makes value. When a user becomes a good player, LiteBringer will live up to its name and provide some LTCs.
As Vogler mentioned, the entire weapons, characters, and items in LiteBringer are in the LTC blockchain. He claims that the technology was definitely secure and decentralized as private keys are never transmitted.
Then, CipSoft reportedly picked the LTC blockchain for its popularity, and it carries low transaction fees of less than a cent per transaction.
RPG
CipSoft’s venture into blockchain-based RPGs is not the first time a blockchain or crypto company has seen gamers’ potential to advance adoption. Last May, Atari announced its collaboration with the Litecoin Foundation to let gamers pay for its upcoming Video Computer System. Also, Infinite Fleet – an online game that utilizes crypto – is still under the leadership of Blockstream Chief Strategy Officer, Samson Mow.
