-$99 million worth of litecoin was sent in a single trade on Thursday.
-The transaction took just two-and-a-half minutes to clear and cost only $0.40 in fees.
-Crypto bulls are pointing to the trade as evidence that cryptocurrency is better for sending money than traditional payment systems.
LONDON – a huge Litecoin trade is turning head in crypto community.
$99 million-worth of litecoin was delivered between two cryptocurrency wallets in one trade on Thursday, bringing attention on Reddit. These parties included from the transaction’s identity is not known.
A thread concerning the trade was the third most popular article on Friday afternoon. Reddit people ended up impressed with statistics revealing the transaction took just 2.5 minutes to settle and expense just $0.40 in mining fees.
“Worth surfacing up here that the $99 million transactions cost just $0.40 and took 2.5 mins. Holy moly,” Reddit user b30, who authored the thread, wrote.
Other users pointed out that similar trades in primall finance would take days to clear, multiple parties to sign off, and carry hefty fees.
A few proponents of all cryptocurrencies like the XRP of Ripple along with litecoin state has the possibility to present a much more trustworthy, quicker, and less expensive alternative to the payment rails, especially if it regards international trades.
Litecoin is the sixth largest largest cryptocurrency by current market value, with $8.4 billion-worth of LTC in circulation as of Friday. The cryptocurrency was created to get a faster and more economical alternative to Bitcoin at 2011.
