Litecoin to Soon Have Smart Contracts via Flare Network Integration

Quick take:

  • Flare Networks will be integrating Litecoin ahead of their Q2 launch
  • Litecoin users will be able to use Ethereum style smart contracts 
  • Litecoin holders qualify for a 5 Billion Spark Token (FLR) airdrop
  • Details of the airdrop will be provided later with the tokens being sourced from the Flare Team’s allocation

The Litecoin (LTC) network will soon have smart contracts thanks to a planned integration with the Flare Network in Q2 of this year. The latter platform is the same one with plans of integrating the XRP ledger in a similar manner when the Flare Network is launched in the second quarter of 2021.

The Flare Networks team made the announcement of integrating Litecoin via the following statement.

Flare will be integrating Litecoin ahead of the Flare network launch in Q2. This will allow LTC to be used trustlessly on Flare with Ethereum style smart contracts and gives LTC interoperability and composability.

The team at the Litecoin Foundation was very enthusiastic about the potential of smart contracts on the LTC network and had this to say.

This is great news. Very excited to see the capability of smart contracts and interoperability coming for Litecoin through Flare!

Flare Networks Team to Distribute 5B Spark Tokens to Litecoin Holders

Furthermore, Litecoin holders will have a chance at receiving 5 Billion Spark Tokens (FLR) in the form of an airdrop. The team at Flare Networks explained that the additional tokens will come out of their personal bags and not from the allocation meant for XRP holders. Details of the distribution will be announced in the days to follow.

Litecoin is less than $20 Away from $200

In terms of price, Litecoin is currently $18 shy of the crucial $200 level. At the time of writing, Litecoin is trading at $182 as a result of a parabolic move from mid-December mimicking that of Bitcoin.

December 12th found Litecoin trading at around $72 with Bitcoin at $18k. Bitcoin has since gone on to set an all-time high of $41.973 – Binance rate – with Litecoin posting a local high of $185. If the current crypto market momentum is maintained, Litecoin could very well claim the $200 price area as support and possibly attempt to break its 2017 all-time high of $375.

As with all analyses of altcoins such as Litecoin, traders and investors are advised to use adequate stop losses and low leverage when trading LTC on the various derivatives platforms.

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