LTC price forecast: how will Litecoin’s Mimblewimble integration impact the value of the token?

on Feb 2, 2022
  • LTC’s value increased by 4% in the last 24 hours.
  • The token's trading volume saw an increase of 6% as well.
  • LTC has huge potential for growth by the end of March 2022.

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Litecoin LTC/USD is a cryptocurrency originally founded in 2011. It is one of the first altcoins out there and is a peer-to-peer cryptocurrency and open-source project.

The main goal and concept behind Litecoin’s development were to be a faster alternative to Bitcoin BTC/USD for payment purposes. 

The Mimblewimble integration as a catalyst for growth 

We previously covered where investors can buy Litecoin after the launch of the LitecoinFAM podcast.

On January 31, through an official Twitter post by the Litecoin Foundation, we saw an announcement that Litecoin’s Mimblewimble Extension Block upgrade would be included as part of the Litecoin Core 0.21.2 release candidate.

This integration was made a possibility through Mimblewimble Extension Block (MWEB), which essentially enables users to make confidential transactions. This release will also include the security and privacy-enhancing Taproot upgrade.

It is important to note, however, that this integration will still have some ways to go prior to becoming operational. The main inspiration behind the naming of this integration is Harry Potter’s tongue-typing spell. 

Through the opt-in feature, developers expect that Litecoin can become a fungible token that can facilitate payments that users want to keep private. 

The MWEB upgrade was first conceptualized through a multitude of Litecoin Improvement Proposal originally posted in October 2019 and had its first testnet released in October 2020.

Should you buy Litecoin (LTC)?

On February 2, 2022, Litecoin (LTC) had a value of $114.34.

The all-time high value of Litecoin (LTC) was on May 10, 2021, when the token reached a value of $410.26. This means that at its ATH, the token was $295.92 higher in value or by 258%.

When we go over last month’s performance, Litecoin (LTC), on January 17 it had its highest value at $152.95, while its lowest value was on January 24 at $99.86.

This marked a decrease in value by $53.09 or by 34$.

However, from January 24 to February 2, the token had an increase in value of $14.48 or by 14%.

With this in mind, at $114.34, LTC is a worthwhile buy as it can reach $125 by the end of March 2022.