Lite.IM, described on their official website as “a tool for financial freedom,” announced on October 31st that Litecoin (LTC) just became available on Facebook Messenger, enabling sending and receiving LTC through the messaging application on one of the most popular social networks.
Even though Facebook was posing bans on all cryptocurrency and ICO related ads on the network, strictly against the institution of digital assets, the company later on modified their policy to match their new plans.
Plans were, of course, related to cryptocurrency and blockchain as Facebook announced starting an official department for the purpose of researching blockchain technology.
Now, after many successful hinting that Litecoin is to become one of the first cryptos available on Facebook, users of this social network can now send and receive LTC-based payments.
How Facebook Can Affect Litecoin (LTC) in the Following Period?
Although Facebook was strictly against ICOs and cryptocurrencies, at least against the advertising of digital assets on this social network, the company soon changed their policy.
After starting a department for blockchain research, months later Litecoin became available as a payment tool on Facebook.
The integration of Litecoin into Facebook Messenger was enabled through Lite.IM, service that already brought Litecoin to SMS and Telegram as a fast, cheap and secure payment tool.
Now, when LTC is exposed to 2 billion users that are visiting Facebook regularly, the crypto might have a solid good chance of bouncing back up despite the horrific dip it suffered since it first touched its low of around 78$ back in June 2018.
Although LTC is rising in the first days of November with the latest increase of around 2% in the last 24 hours, the crypto has yet to recollect all of its lost value, and Facebook-enabled payments with LTC might be just what Litecoin needs at the moment.
It seems that the magic is already working since Litecoin is already showing 11% gains in the last seven days, which matches the exact time since LTC became available on Facebook Messenger, showcasing the increased demand.