At the time of writing, LTC\/USD is changing hands at $53.20, down nearly 2% since the beginning of the day. The seventh larges digital asset with the current market value of $4.3 billion has been moving within a short-term bearish trend amid low volatility.<\/p>\n
While commending the initiative of the Bitcoin Cash community to force miners to transfer 12.5% of their revenues, the creator of Litecoin Charlie Lee suggested that miners should donate 1% of their block rewards (0.125 LTC) to the ecosystem development. He also added that the donations should be completely voluntary.<\/p>\n
He wrote on Twitter:<\/p>\n
I think a better way to fund development is mining pools voluntarily donate a portion of the block reward. How about Litecoin pools donate 1% (0.125 LTC) of block rewards to the @LTCFoundation? If every miner\/pool does this, it amounts to about $1.5MM donation per year!<\/p>\n
He also added that due to merged mining of Dogecoin and other coins based on Scrypt algorithm, miners are able to receive over 105% of block rewards. What's more pool of miners can decide on the target. of their donations, for example, Litecoin.com or The Lite School.<\/p>\n
The community reaction was controversial. Someone supported the initiative, while others expressed doubts and suggested that Lee should have donated the proceeds from selling his coins in 2017.<\/p>\n
LTC\/USD hit the bottom at $50.65 on January 24 and has been recovering ever since. However, the further upside may be limited by SMA50 1-hour at $53.60, which is closely followed by the short-term downside trend line. Once it is out of the way, the upside is likely to gain traction with the next focus on SMA100 at $55.50 and SMA200 1-hour at $57.00.<\/p>\n
On the downside, the support comes at $52.00 ( the lower line of 1-hour Bollinger Band). A sustainable move below this area will take us towards the recent low of $50.65. If the price breaks below $50.00, SMA50 daily at $46.50 will come into focus.<\/p>\n
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Litecoin Price analysis: LTC\/USD recovery stalled as Charlie Lee mulls the idea of miners' donations - FXStreet<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" At the time of writing, LTC\/USD is changing hands at $53.20, down nearly 2% since the beginning of the day. The seventh larges digital asset with the current market value of $4.3 billion has been moving within a short-term bearish trend amid low volatility. While commending the initiative of the Bitcoin Cash community to force miners to transfer 12.5% of their revenues, the creator of Litecoin Charlie Lee suggested that miners should donate 1% of their block rewards (0.125 LTC) to the ecosystem development Continue reading