BTC$66 157.02


ETH$3 078.99




Binance Coin




USD Coin


Litecoin Foundation supports Celsius

20 Sep 2019


The Litecoin Foundation supports a 2018 hit ICO project Celsius

Crypto lending platforms are growing in number as the asset class becomes more popular around the world. Many leading crypto firms have created lending programs as they strive to encourage the widespread use of digital assets.

The Litecoin Foundation has placed its capital in the Celsius Network, a blockchain-based cryptocurrency lending platform. According to Alex Mashinsky, CEO of Celsius Network, the Foundation has picked his company to be its preferred crypto wallet. The deal between the two firms will see Litecoin Foundation place an undisclosed amount of its crypto holdings in the Network. Clients of Litecoin could receive up to 10.53% interest annually on their crypto holdings and 4.95% on dollar loans.

Endorsement from Foundation

Litecoin Foundation is one of the leading players in the blockchain and crypto industry and having the firm place its faith in the Celsius Network will be a significant boost to the Network. Crypto traders and other companies in the industry will develop greater trust in the Network due to the investment made by the Foundation.

Mashinsky said that endorsement from the Foundation validates the Network. Celsius Network promises it's investors an 80% return on investment on their deposits, and Litecoin seems to agree that Celsius is worth an investment. The Network’s CEO went on to say that the endorsement from Litecoin, the first foundation to work with the Network, is a huge event. This vote of confidence by the Foundation is a sign that Celsius is gaining recognition from the general crypto community for the services that it provides.

Celsius’ business

In 2018, Celsius raised $50 million in its ICO. Since then, the platform has issued out over $2 billion in loans, holds over $350 million a year in deposits, and has issued over $3.5 million in interest to its investors. BitGo, a crypto custodian, said that it held $1 billion worth of crypto deposits on behalf of Celsius in the past year.

Charlie Lee, the creator and managing director of the Litecoin Foundation, said that they had chosen Celsius as their preferred interest bearing wallet because they are interested in helping Litecoin holders take advantage of any new use cases that could help these holders benefit from their holdings. Litecoin has shown its faith in the services offered by Celsius by placing a portion of its treasury in the network.

The Foundation has been working on forging several partnerships this year, and Celsius becomes the latest addition to its list of partners. A few months back, Litecoin Foundation entered into a relationship with the Miami Dolphins, a team in the NFL.

Questions over Litecoin’s financials

In the last quarter, Litecoin came under scrutiny following reports that the nonprofit firm was under financial stress. Due to the effects of the bear market, Litecoin was said to be operating in the red. Lee came out to say that his goal is to make the Foundation financially stable and self-sustaining from donations. Lee is responsible for close to 80% of the donations made to the Foundation since its inception. 

Author: Ali Raza for


Litecoin hits six-month high as LTC price soars 20% in 24 hours
Litecoin hits six-month high as LTC price soars 20% in 24 hours
Litecoin price hits $400 all-time high, but LTC rally at risk of overheating
Litecoin price hits $400 all-time high, but LTC rally at risk of overheating
German digital stock exchange will list physical Litecoin ETP
German digital stock exchange will list physical Litecoin ETP
InstaForex introduces new tools for cryptocurrency trading
InstaForex introduces new tools for cryptocurrency trading
Best Cryptocurrency to Mine in October 2019
Best Cryptocurrency to Mine in October 2019
Partnership with Flexa Boosts Litecoin Applicability
Partnership with Flexa Boosts Litecoin Applicability
Mass Adoption of Crypto Through Sports
Mass Adoption of Crypto Through Sports
Deepen your Understanding of Crypto Trading
Deepen your Understanding of Crypto Trading

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 88% 17 $66 157.02 -1.27% 7.95% $1 303 330 068 297 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 85.2% 20 $3 078.99 -1.29% 5.14% $369 861 425 373 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 95.2% 1 $1.000080 -0.02% 0.03% $111 443 852 939 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 91.2% 8 $574.25 -0.68% -3.89% $84 751 254 658 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 75.6% 39 $169.28 -1.74% 16.84% $75 989 826 214 SOL 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 96% 1 $1.000008 0% 0.01% $33 486 527 865 USDC 7 days price change
7 XRP (XRP) XRP XRP predictions 90.4% 9 $0.509712 -2.34% 1.83% $28 181 419 553 XRP 7 days price change
8 Toncoin (TON) TON Toncoin predictions 68% 66 $6.34 -1.59% -9.55% $22 022 061 681 TON 7 days price change
9 Dogecoin (DOGE) DOGE Dogecoin predictions 80% 31 $0.148934 -2.73% 5.66% $21 499 911 534 DOGE 7 days price change
10 Cardano (ADA) ADA Cardano predictions 86% 22 $0.468449 -3.20% 6.88% $16 714 336 337 ADA 7 days price change
11 SHIBA INU (SHIB) SHIB SHIBA INU predictions 76.8% 42 $0.000024 -3.59% 6.90% $14 084 542 112 SHIB 7 days price change
12 Avalanche (AVAX) AVAX Avalanche predictions 78.8% 38 $35.70 -3.98% 5.91% $13 664 747 798 AVAX 7 days price change
13 TRON (TRX) TRX TRON predictions 82.8% 27 $0.121232 -1.70% -4.52% $10 600 705 716 TRX 7 days price change
14 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 84.4% 25 $0.120633 -2.26% -4.59% $10 548 459 707 WTRX 7 days price change
15 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 86% 17 $66 209.96 -1.14% 8.00% $10 295 421 937 WBTC 7 days price change

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2024

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.