|Brief||Litecoin is often referred to as 'Bitcoin-Lite', or 'silver' to Bitcoin's gold. It's indeed a Bitcoin fork, but though they share the same blockchain|
|Last updated:||Sunday, November 29, 2020 7:00:03PM UTC|
|Crypto Volatility Index (CVIX):||86|
|Current price, USD:||78.59|
|Market capitalization, USD:||5 185 187 793|
|Available supply:||65 976 802 LTC|
|Volume 24 hours, USD:||5 220 931 780|
General LTC facts, technical details and general information about Litecoin crypto currency
Cryptocurrency, created by former employee of Google Charles Li, is already accepted by companies in the field of electronics, clothing, games and advertising. The main characteristic of the Litecoin network is its ability to process a higher transaction volume compared to its counterpart, bitcoin. Another advantage is a large pool of coins: it is planned that in the course of history about 84 million litecoins will be created, which is four times the number of coins in bitcoin blockchain. Theoretically, this should allow Litecoin not to turn into an overly accessible currency, which could lead to its devaluation, but also protect it from becoming too complex to generate, and therefore potentially too expensive. How this strategy will work in the long term, we still have to see, but the current price of around $ 50 per coin indicates good prospects for the crypto currency.
Litecoin is often referred to as “Bitcoin-Lite”, or “silver” to Bitcoin’s gold. It’s indeed a Bitcoin fork, but though they share the same blockchain, the differences between the two cryptocurrencies are many. Firstly, they rely on different algorithms, and because of a less complex one Litecoin mining is perceived as more accessible for everyday user. Secondly, though the transactions in both chains occur simultaneously, their confirmation time is different: it takes around 9 minutes for Bitcoin’s long-term average transaction to be confirmed vs. 2,5 minutes for a Litecoin one, and such speed gives Litecoin a competitive advantage.
After the SegWit protocol implementation in April 2017, the price of Litecoin has grown steadily from $10 to more than $300 in December, making it one the fastest growing cryptocurrencies this year. Litecoin was also a beneficiary of the bitcoin rally – on certain days it enjoyed 20% or event 30% price increases. Thanks to its transaction speed Litecoin is positioned by its founder, Charlee Lee, as a cryptocurrency for everyday payments vs. bitcoin which is better as a long-term store of value.
Litecoin is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world. Litecoin is an open source, global payment network that is fully decentralized without any central authorities. Mathematics secures the network and empowers individuals to control their own finances. Litecoin features faster transaction confirmation times and improved storage efficiency than the leading math-based currency. With substantial industry support, trade volume and liquidity, Litecoin is a proven medium of commerce complementary to Bitcoin.
Find support across a growing number of Litecoin communities:
Litecoin is an open source software project released under the MIT/X11 license which gives you the power to run, modify, and copy the software and to distribute, at your option, modified copies of the software. The software is released in a transparent process that allows for independent verification of binaries and their corresponding source code.
We list daily Litecoin historical data for the past 10 days
|Date||Open, $||Min, $||Max, $||Market cap, $|
|Nov 20||81.40||80.51||85.10||5 417 909 635|
|Nov 21||82.58||80.89||86.35||5 622 660 567|
|Nov 22||86.78||80.24||86.78||5 634 090 801|
|Nov 23||82.71||82.19||90.12||5 840 972 528|
|Nov 24||89.04||87.68||93.38||5 828 225 502|
|Nov 25||89.11||82.51||89.49||5 441 670 518|
|Nov 26||82.34||66.90||82.59||4 673 281 700|
|Nov 27||70.73||66.59||72.73||4 531 153 698|
|Nov 28||69.05||68.97||74.10||4 842 848 496|
|Nov 29||72.65||72.14||78.59||5 185 187 793|
|LTC price change 24 hours||7.49%|
|LTC price change 7 days||-6.07%|
LA Finest August 17, 2020 LTC
LTC is always perched in an uncertain position. It may be because crypto enthusiasts are unsure if LTC has lasting power in the crypto market, but it either gets weak support or strong buying action. Lately it’s been enjoying strong buying action,...
Phil0$of May 7, 2020 LTC
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Kyle April 14, 2019 LTC
We publish the most accurate Litecoin Forecasts and News including crypto industry experts' opinion on a daily basis