Fidelity Investments Expands Digital Asset Offerings to Include Litecoin (LTC)

This move by the financial powerhouse, which manages over $12 trillion in assets, marks a significant step for Litecoin, known as the “silver to Bitcoin’s gold.”

Investment management giant Fidelity has added Litecoin (LTC) to its lineup of digital assets, joining Bitcoin and Ethereum. This move is bound to have a positive impact on LTC.

Now, Fidelity clients can trade four of the largest cryptocurrencies by market capitalization via Fidelity.com, the Fidelity mobile app, or through Active Trader Pro.

The financial services company, which boasts over $12 trillion in assets under management, is making waves in the crypto sphere. This latest integration will likely boost demand for LTC.

Moreover, Litecoin has been making headlines recently. Here's a quick rundown of some of the key points:

- Litecoin's hashrate recently reached 1.1 PetaHash per second, enabling efficient and low-cost transactions.

- In contrast to Bitcoin's hard cap of 21 million coins, Litecoin has a maximum supply of 84 million and experiences halvings every four years, making it a preferred choice for transactions.

- Litecoin's MimbleWimble Extension Blocks (MWEB) protocol enhances privacy by concealing wallet balances. Activity on MWEB has surged, with increased transactions and balances over the past year.

- Litecoin processes transactions in about 2.5 minutes per block and maintains low transaction fees.

Recent data showcases Litecoin's strong performance compared to other cryptocurrencies. According to IntoTheBlock, Litecoin surpasses Dogecoin in transaction volume, averaging $2.85 billion in transactions over $100,000 daily, despite Dogecoin having a larger market capitalization.

At press time, Litecoin trades at $72.75, reflecting a 2.24% rise in the past 24 hours, with a 5.28% increase in trading volume to $285,874,050. This growth indicates a renewed interest in Litecoin as the crypto market recovers.

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