Bitcoins little brother Litecoin becomes advertising partner of the UFC 232

Despite a bearish year 2018, the adaptation of digital assets continues to grow strongly worldwide. The Litecoin Foundation becomes an official partner of the UFC 232. This step is important to show the benefits of Bitcoin, Litecoin and digital currencies to millions of people.

Coming Saturday evening in California the title fight in the UFC half heavyweight (Ultimate Fighting Championschip) between Jon Jones and Alexander Gustafsson takes place. Litecoin will be listed as official sponsor. The Litecoin Foundation has already concluded further advertising deals this year, but some of them will still be kept secret and will only become public next year. Both UFC and LTC are united by a strong community movement, which will be the focus of this advertising cooperation (freely translated):

In the last 25 years, UFC has evolved from a tiny grassroots movement into a global phenomenon, largely based on the extremely passionate community. We see many parallels to Litecoin in this way, as our amazing fellowship has been critical to our growth and delivery Unwavering passion and enthusiasm that continue to drive us forward.

The logo of the digital asset will come into contact with millions of viewers, so this will have a positive impact on the branding of Litecoin as well as other digital assets. Litecoin is also the first crypto currency ever to sponsor a UFC event. The foundation describes that this will be the beginning of a “long and fruitful partnership”.

This message appears shortly after the rumours that Bitmain will be firing 80% of its employees. Co-founder of Multicoin Capital, Kyle Samani, in a tweet states that this is a serious situation for Bitcoin Cash and Litecoin as this measure could have far-reaching implications for both assets as well as the crypto market as a whole.

This is extremely bearish for BCH and LTC

The only reason to make cuts this drastic are because you’re about to run out of cash

Meanwhile, they still have 1 BCH and 1M LTC on their balance sheet. Those are going to be liquidated soon to keep the lights on https://t.co/kneSRcK2li

– Kyle Samani (@KyleSamani) December 26, 2018

The founder of Litecoin, Charlie Lee, describes in an interview a few days ago that there will be a market shakeout where only the strongest coins and projects with the greatest application benefit for the industry will survive:

My feeling is that there will be a handful of crypto currencies that will actually be used as money. There are obviously many scams and currencies that are not useful at all, and these values are going to decrease. You will see some coins die, and the strong will survive.

Despite the continuing tense market situation, companies in the cryptosector are investing in advertising and thus further acceptance and adaptation.