- The Litecoin blockchain network continues to boost network relevance through partnerships.
- Litecoin (LTC) bulls are leading the altcoin rally.
The Litecoin Blockchain, like many of its peers, is strengthening its position, along with the entire Litecoin ecosystem with external partnerships.
Over the years, blockchain networks have tapped multiple organizations to kickstart a long-term partnership poised to deliver lasting results to both parties.
The Litecoin blockchain is one such platform that has adopted this practice, with a core focus on merging the traditional market with cryptocurrency industries. A deep dive into Litecoin’s partnership track record spotlights the significance of the collaboration in Litecoin’s continuous growth.
Priding itself as a powerhouse in partnerships, Litecoin struck a major partnership with leading Digital Asset Manager MetaAlpha in 2023. The crypto wealth management company revealed that it would be working with Litecoin to build sustainable mining solutions for the Litecoin ecosystem. At the core of the partnership is a goal to reduce carbon emissions and maintain energy efficiency on the Litecoin network.
In the same year, Litecoin also partnered with leading payment giant PayPal and popular crypto hardware wallet Ledger to improve crypto trading experiences for its customers.
“We’re glad to announce an on-ramp integration with PayPal, allowing users to explore crypto in a convenient, simple, and secure way via the Ledger Live companion app.” Litecoin wrote in an official press release.
LTC bulls take charge as altcoins attempt a recovery
Courtesy of the partnership, purchases made through PayPal will automatically be sent to users’ Ledger hardware wallets, similar to other Ledger live options.
In previous years, Litecoin has snagged partnerships with NordVPN, WEG Bank AG, Travala, eGifter, and the notable law from Oppenheim Law. Additionally, sports platforms like UFC 232 and Miami Dolphins have also collaborated with the network. All of these partnerships have established Litecoin as a leader in the blockchain industry.
The network has also depicted growth in other areas, particularly with mining. Notably, miners on the network are given a certain amount of Litecoin when a block is produced. As a result, there are currently 828,000 blocks until the next halving in 2027. The mining reward stats disclosed by the network highlight efficiency and network health on the POW blockchain.
On the other hand, Litecoin’s native token LTC has also achieved a notable feat as token adoption increases amongst Bitpay users.
As the official announcement reads;
“For the last three months straight, Litecoin has been the cryptocurrency most commonly used for transactions via the world’s largest crypto payment processor Bitpay. People are choosing to pay with Litecoin more than ever!”
Meanwhile, LTC bulls are making a massive price recovery. As Santiment reports, the altcoin has returned above the $70 price mark and is poised to take in higher gains in the long term.