I hope that this does not have a detrimental affect to the future development of Litecoin.

For most, Litecoin to Bitcoin is seen as what Silver is to Gold. Silver in this sense is credited with its ability to stabilize the price of gold. My opinion is that if there is to be a future for digital currencies there must be more then one option available. Currently Litecoin is the leading alt-coin based on Market cap (which is linked to its value)

Disclosure: Bullish on both BTC and LTC