The cryptocurrency market is running rather stagnant today, as it is slowly climbing back from a rough ending to the week last week. NEO is leading the market in the top 10 cryptocurrencies. There are many others that are just below the growth market and are lagging behind such as Litecoin (available on Coinbase) (LTC), Ripple (available on Binance) (XRP), Cardano (ADA), and Stellar (XLM).

Litecoin (available on Coinbase) (LTC)

The most surprising of all the coins down today is Litecoin (available on Coinbase) (LTC). At press time, LTC is trading at $217.98 a coin, down -2.41%, in 24 hours. Yesterday, LitePay’s merchant registration launched and many anticipated the coin to skyrocket as the price did when LitePay was first announced via Twitter (NASDAQ:TWTR). However, it was set to roll out yesterday around 9 PM PST but yesterday before launch LitePay sent an email out to its subscribers. The email reads, “Due to hostile actions by card issuers towards crypto companies, we have decided that offering LitePay card registrants at this time is imprudent.”

It remains unclear if they were opening card registrations up at the time, at the same time the merchants were able to set up their own LitePay Merchant Payment Processing account. Many LTC enthusiasts were upset and took to Reddit. One user by the name of, Litecoin (available on Coinbase)fanboi, said, “I want projects like Litepay to succeed. But you should look at things for what they are, not what you want them to be. As of right now, litepay is a failure. This could change in the future though.”

Many Litecoin (available on Coinbase) investors had the idea that they would be able to use their LitePay card very similarly to a standard Visa or Mastercard at stores but it seems that has been put on hold. How will these new merchants be able to accept Litecoin (available on Coinbase) now? It makes sense why the team at LitePay decided to tell its users this just before the registration launch. Thoughts?