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Litecoin’s Mimblewimble Upgrade Crumbles Bears! LTC Price Poised For $250k! 

Written by: Qadir AK

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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Feb 1, 2022

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Highlights

    Litecoin is bringing privacy options through its much anticipated Mimblewimble upgrade.

    Litecoin price poised for 100% upswing along with a resurgence in on-chain metrics.

Litecoin’s price has seen quick gains as its much-awaited Mimblewimble upgrade kicks in after two years of development. The upgrade has opened the door to higher privacy-focused transactions on the network. 

Mimblewimble’s integration into Litecoin came by way of the Mimblewimble Extension Block, called MWEB. The network aims for the platform’s users to conduct confidential transactions. Followed by the upgrade, the LTC network has regained terrific strength in on-chain. 

Litecoin’s Mimblewimble Crumbles Bears! 

Bitcoin’s brother followed the general market sentiments on Tuesday with 5.15% gains in the last 24 hours. The boost in Litecoin’s price action is largely driven by its Mimblewimble upgrade. Selling pressure triggered by macro factors will remain mitigated in February, and massive bullish price action is awaited. 

Undeniably, the recent integration of Mimblewimble as beta could have a long-term bullish impact on LTC. The additional improvement to the network’s privacy and security stands as one of the most hyped integrations for the protocol amongst its community. 

The platform has also revealed that the miners and community can start signaling for Mimblewimble soon after obtaining the integration’s code. Once the aforementioned limits are concluded, the activation date for the deployment of this proposal will be determined. 

The Google trends have confirmed a solid breakout in Litecoin searches. Especially searches for Litecoin plus MWEB have risen followed by the announcement. Further, analytics of Glassnode have also confirmed that along with the addition of 1,000,000 addresses, the network experienced tremendous growth. 

Collectively, the new integration to Litecoin’s network will turn the table for its price action. The asset has already onboarded the bull rally, if everything goes in favor, then it is likely to reach $250 in the next couple of weeks. As a whole, Mimblewimble upgrade has got all the potential to crumble the bears outlining a macro bullish outlook. 

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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