There is no doubt that the crypto market has gone mainstream, and Litecoin (LTC) is blazing the way. A few days ago, Litecoin proved that it is possible to send money at unimaginably low fees and in matter of seconds. $99 million was sent using Litecoin at a cost of $0.40 and in under 150 seconds. That’s an indicator that cryptos are taking over the financial services industry, and could easily make banks obsolete. However, the true hallmark of crypto adoption will be when the older generations start interacting with them, both as investments and as currencies. And today, that journey seems to have kicked off.
A few hours ago, Market Watch announced that they will be adding Litecoin and several other cryptos to their data feed. The big deal is that Market watch is mostly used by the older generations, people who are looking to keep track of stock market prices. You can easily tell this by the kind of comments that Market Watch received after they made this announcement. The comments are from clearly people who seem to have some understanding of finance, but are yet to understand crypto. Take these two comments made after the announcement as an example,
“We don’t want these quotes. We want to know where markets for REAL things are trading.”
Another one read,
“Cryptocurrencies are the Junk Bonds of the 2000’s only TEN TIMES WORSE! You’d be safer buying futures in the North Korean won currency. Cryptocurrencies are nothing but Ponzi Schemes. Look up the word Crypto. It means “Secret, Hidden, unknown”…. How appropriate.”
Clearly these are comments from older people who have an understanding of finance, but are yet to grasp the whole concept of cryptocurrencies. The good news is that now that it is out there, they will begin to understand it, and Litecoin (LTC) will be one of the biggest beneficiaries. That’s because it has the utility that they need.
For instance, everyday people need to send money via banks, a very expensive and slow process. How do you think they will react once they learn that they can achieve the same end, at a fraction of the time, and for pennies? They will most likely adopt it, and that’s how Litecoin and crypto in general will grow.
The case for large-scale adoption by the older and wealthier generation is also validated by the announcement by NASDAQ that they could become a crypto exchange in the future once regulations come in place. NASDAQ is another financial services platform that is well known to mom-and-pop as a bridge to investing in the stock markets. Once it starts dealing in crypto, you can expect such people to start taking an interest in this market, and that will be the beginning of the next phase of growth.
One thing is clear though, crypto is entering an interesting phase in its growth, and Litecoin (LTC) is a front-runner. If such positive vibes continue from mainstream finance and Litecoin continues to prove itself as a viable payments method, $1000 valuation would be in the offing sooner than you can imagine.