Charlie Lee, a former employee of Google (NASDAQ.:), created Litecoin and released it in October 2011. It’s a fork from. However, the difference is that it takes less time to generate blocks. Protocol also allowed for a higher maximum coin count and used a script-based algorithm. this is one the largest cryptocurrencies. It is also one of 10 most valuable cryptocurrencies according to market capitalization. Yahoo.com reports that Litecoin is now above $247 as resistance, as the bullish sentiment sweeps all crypto markets. Despite having less market share than it used to, Litecoin has a market capital of $17 Billion, which is objectively more than CBOE Global Markets and Gamestop. The report said: “At the time of writing it was trading at $252 following a 28.87% move to the upside from this morning’s daily close. A daily close above $247 is expected. Upside targets are $286 and $234. However, a close below this level could indicate a short-term pullback as traders aim to lock in profits from the recent move.” Active companies with recent developments in the industry include: Hello Pal International Inc. (OTCQB HLLPF) CSE: HP (NYSE :)), Sphere 3D Corp. (NASDAQ: ANY), HIVE Blockchain Technologies Ltd. (NASDAQ: NASDAQ:) (TSXV: HIVE), Canaan Inc. (NASDAQ: CAN), Coinbase (NASDAQ:) Global, Inc. (NASDAQ: COIN).

Continue reading the Yahoo.com article:

“Litecoin has a relative strength index (RSI), at 88.52. It is now the highest in over two years because of increased volume along with price action. The price rise of Litecoin may be a sign of what’s to come in altcoin markets. People take Bitcoin profits at $68,000 and then diversify their profits into other speculative investments like altcoins. Litecoin rose to a staggering all-time record $420 in 2017. It then fell to $412 this year before regaining its $105 support level. It’s possible for Litecoin to surpass its 2017 all-time high and gain support in the $500 area by 2022, if it manages it before year end.
Hello Pal International Inc. (CSE: HP) (OTCQB: HLLPF) BREAKING NEWS Hello Pal Purchases Additional 130 Antminer L7 Miners for LTC and DOGE Mining – 400 New L7 Miners to Commence Mining in North America Shortly – Hello Pal International Inc., a provider of rapidly growing international live-streaming, language learning and social-crypto platform, is pleased to announce that it has purchased a further 130 Antminer L7 mining rigs for the mining of Litecoin and , bringing the total number of L7s to 400.

This new purchase primarily relies on the cryptocurrency profits generated by the Company’s subsidiary (CPal Technology Limited) from the past several months of mining in addition to free cash reserves in the Company. After the Company’s announcement about the total upgrade of its miners, 270 L7 miner were bought using proceeds from 12,500 AntminerL3+ miners. (See November [16]Press release

“The recent price spike in Litecoin as well as news around SpaceX’s DOGE-1 mission to Mars have increased market demand for and prices for mining rigs. Therefore, we feel very lucky to have procured so many units.”
KL Wong was the founder and chairman of the Company.

We are pleased to say that the purchase of this property was possible because our previous crypto-mining efforts had paid off.
The new machines are expected to be delivered in December 2021, upon which they will be delivered by airfreight directly to the Company’s new mining facilities in New York State and other parts of North America.

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