Iqbal Gandham, UK Managing Director at eToro, one of the UK’s largest cryptocurrency retailers:
“News of backpedalling from South Korea on plans to ban exchanges has bolstered the cryptomarkets today, and Litecoin is no exception.
“But the surge can also be explained by reports of the launch of a new payments solution, Litepay. Any news that brings the currency closer to the mainstream is bound to have a positive impact.
“Investors are also mindful of next week’s hard fork. The original coin is expected to split on Sunday evening, giving each Litecoin holder 10 new coins for every one – an obvious motivation for those looking to get involved ahead of time.”