From crypto debit cards to huge transactions, to airdrops and beyond, Litecoin (LTC) and TRON (TRX) are making big progress this week in the crypto world.
Litecoin is currently selling for $151.71, which puts the coin up 1.05% in the past 24 hours.
Litecoin has been a pretty steady climber increasing by 20% over the past week.
A lot of things are happening for the coin, (besides several new Litecoin debit cards now being in the works, including one by TenX (see you, LitePay!)), Litecoin has just achieved what is surely a crypto transfer milestone.
News of the LTC transaction broke in a Reddit forum, where it was revealed that a $99 million transaction, consisting of 700,000 LTC at $140, has just occurred. The most impressive part? The transaction only cost $0.40 and took a total of 2.5 minutes to confirm.
This is huge news for a lot of reasons. First of all, it was an incredibly fast and cheap transaction – one that would have taken the traditional route, through banks, etc., days to clear for a large fee and even more paperwork.
For such a large transaction, the speed and price of the fee is impressive. In comparison, Bitcoin fees are around $1.00 right now (average, in US dollars), according to data from BitInfoCharts. BitInfoCharts also has the average block time for Bitcoin at 9 minutes, compared to Litecoin’s average of 2.2 minutes. This transaction, above anything else, really showcases Litecoin’s goal of being a quicker and cheaper alternative to Bitcoin.
TRON is currently selling for $0.055678, which puts the coin up 3.51% in the past 24 hours.
TRON announced that it would be airdropping 30 million TRX to the Ethereum community. The TRON airdrop is to show its appreciation for the springboard that was Ethereum for TRON, and to also show Ethereum users the better operating platform that is TRON. So, it’s kind of a slap in the face mixed in with free money.
TRON’s Medium post on the airdrop stated,
“Ethereum played a vital role in TRON’s early stage development, and we want to express our appreciation through this airdrop event. However, we have also discovered many issues and bottlenecks during our time on the Ethereum platform. When we see a problem — we will set out to solve it. That is why TRON wants to provide TRX to the Ethereum community, so people have a chance to experience our high TPS development platform and use TRX to vote, becoming part of our new generation decentralized network and the TRON democracy.”
Ethereum users will not have to actively do anything to qualify for the TRX airdrop. All that is required is that they hold an ETH balance of over 1 ETH in their accounts, between January 1st, 2018 and April 20th, 2018. The cutoff date, which was last Friday, has already passed, so it’s too late to get the required amount of ETH in your account now, but if you already had 1 ETH or more in your account, you’re eligible.
The TRON airdrop will occur sometime after the data has finished being collected, which is expected to take about a week (from last Friday). Those who meet the requirements will receive between 10 and 100 TRX into their account. How much each account receives will be randomized.
TRON wants to stress that it will not solicit wallet addresses from anyone and that all customers should report any suspicious activity should it be experienced.
Featured image: allebonini via Pixabay