While the founder of Litecoin, Charlie Lee, revealed a few weeks ago that he’s doing everything in his power to push the price of Litecoin to $400, the development on Github clearly shows otherwise. A Github survey showed that Litecoin (LTC) has had no repository update or code developments since April this year. Meanwhile, other top digital currencies such as Ethereum (ETH), Bitcoin (BTC), and EOS (EOS) has seen continuous development activities on the index charts of Github, with EOS (EOS) topping the chart last month. Is Charlie Lee fooling us?
According to the index charts of Github, all the activities of Litecoin (LTC) on the code repository ended in April. No new developments have been made since then, which means the project has seen no progress for the past 4 months. Not based on code development at least. According to some online users, the lack of development might be the result of a “developer bear run break” where the developers are cashing out on their profits. Another reason might be that the developer community of Litecoin (LTC) is holding its breath for the first Annual Summit of the blockchain project which is scheduled to take place on the 14th and 15th of September.
The Litecoin event will feature actual demonstrations with businesses looking to getting into cryptocurrency purchasing tactics as part of their infrastructure via the foundation’s #PayWithLitecoin campaign. Furthermore, the goal of the summit is to bring together the extremely passionate Litecoin community. The two-day summit will also provide a variety of networking events.
Charlie Lee said about the event:
“We are very excited to be bringing this amazing lineup and community under one roof. There has been a lot going on in the blockchain & cryptocurrency ecosystem in the past year and there is no better group of people to explore current and future happenings. We’re also excited to be able to bring the Litecoin community together.”
At the time of writing, Litecoin (LTC) is trading at a price of $57 on CoinMarketCap. At this price level, Litecoin is down approximately 85% from its all-time high of $375.29 reached in December. It has to be seen if the Summit in September can give a boost to the price of Litecoin and if the development of the cryptocurrency will be continued again.