Litecoin Underperforms Among All Top Cryptos in 4-Hour Chart
Litecoin’s (LTC) 5 four-hour candle negative streak has officially concluded. The candle from the past four-hour candle finished up by 0.32% or $0.14.
In addition to other instruments in the Top Cryptocurrencies asset class, LTC ranked 3rd since the last 4-hour candle when it comes to percentage price change.
The day prior, Litecoin closed down by 1.39% or $0.61. With that, this indicates that a three days consecutive decline has happened. Also, the said move occurred on lower volume, as yesterday’s volume fell by 0.76% from the day before. It then dropped 59.22% on the same day as the week before.
Aside from that, Litecoin became the worst performer among the five assets in the Top Cryptos asset class in the day prior.
Currently, LTC is now close to its 20, 50, and 100 days moving averages. This might act as a price barrier for the asset. The trend traders will hope to notice that the strongest trend arises on the 14-day horizon. During that time, the price kept on moving up.
On the other hand, over the last 30 days, the price of Litecoin went down by 16.
BlockCrushr Alleges ConsenSys
Meanwhile, Canada-based fintech, BlockCrushr, has filed a lawsuit in New York. It is accusing blockchain tech firm ConsenSys of stealing trade secrets.
According to BlockCrushr, ConsenSys launched an Ether (ETH)-based recurring payments platform named ‘Daisy Payments’ one day before the Canadian company launched its own product.
BlockCrushr joined the ConsenSys Tachyon Accelerator program beforehand. And now, it accuses the elder firm of posing as an advocate and mentor before replicating the startup’s proprietary technology.
The complaint stated, “Defendants launched Daisy Payments by leveraging the trade secrets Burke and Redden disclosed during the Tachyon accelerator program.”
Moreover, the complaint insists that ConsenSys invested $100,000 in BlockCrushr to support the launch of its platform. Following the invitation it received to participate in ConsenSys’ Tachyon accelerator program, the complaint noted that Blockcrushr’s founders, Andrew Redden and Scott Burke, uprooted their lives and relocated to California in September 2018 to join in the incubator.
The firm is also claiming that they provided ConsenSys access to all aspects of its marketing, financial, technical, and regulatory strategy – in addition to the code for its payments platform.
The complaint said, “BlockCrushr also shared its main asset: the source code and proprietary technical solution to its recurring payments platform.”
Ceasing Communication
Back in March 2019, ConsenSys allegedly abruptly halted their communications with BlockCrushr and its team. BlockCrushr explained that ConsenSys failed to give the additional funding it had previously promised. This resulted in the company laying off some of its staff.
But even though they got new investors, BlockCrushr sought renewed interest from ConsenSys. They said that the product’s planned launch date during correspondence was on July 23, 2019.
Furthermore, the said suit attempts a permanent injunction, damages, legal expenses, and disgorgement of profits gleaned from the alleged theft of Blockcrushr’s technology.
