|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:||Wednesday, November 13, 2019 6:57:05AM UTC|
|Current price, USD:||61.343|
|Current price, BTC:||0.0069844|
|Market capitalization, USD:||3 905 647 147|
|Available supply:||63 668 483 LTC|
|Volume 24 hours, USD:||3 349 675 672|
General LTC facts, technical details and general information about Litecoin 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.
We list daily Litecoin historical data for the past 10 days
|Date||Open, $||Min, $||Max, $||Market cap, $|
|Nov 04||58.525||58.454||61.921||3 917 771 383|
|Nov 05||61.485||61.485||63.595||4 027 848 200|
|Nov 06||63.220||62.957||64.239||4 087 099 518|
|Nov 07||64.216||61.535||64.216||3 935 124 153|
|Nov 08||62.123||59.801||62.441||3 849 260 401|
|Nov 09||61.258||60.894||62.02||3 943 586 710|
|Nov 10||62.009||61.926||64.437||4 056 373 873|
|Nov 11||64.077||61.715||64.27||3 939 177 552|
|Nov 12||62.187||60.931||62.455||3 905 317 178|
|Nov 13||61.287||61.2||61.375||3 905 647 147|
|LTC price change 24 hours||-1.2%|
|LTC price change 7 days||-3.34%|
I got caught up in the greed trap when trading Litecoin this summer. I had bought a batch of LTC back in May when the price was at around $60 - $70. As we all remember, the crypto market went on a nice bull run, which lasted for about three months, running its cause at the tail end of August. I held Litecoin right through its peak price of $140 and then its first downward movement to $90, expecting the price to bounce back and continue its move to $200. So, now I am stuck with Litecoin for a long time.
Litecoin has been my second favorite cryptocurrency, after Bitcoin of course, for quite a long time. It has great fundamentals; Litecoin Foundation landed some sweet sponsorship and partner deals this year with various sports organizations, and it has just passed the halving. We already witnessed the first LTC halving. Back then, the price took some time to consolidate and then simply exploded to $300+. It is my firm belief that history will repeat itself. Watch out for $200 per LTC by the end of the year.
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, but it may be due to its use as a BTC hedge. The last time we saw this much interest in LTC, it rose from $20 to over $300. It will be interesting where this current trend lands LTC. For those that bought in at its 2018 lows, they’re enjoying well over 2x valuation, which has significantly outperformed both BTC and ETH.
Litcoin has been the best performer in the whole crypto market. It’s insane how much money you could have made by buying the bottom. You could literally already be over 3x from its bottom about 4 months ago. How can anyone that knows crypto not be heavily vested in LTC. This coin is basically BTC-lite and it’s transaction speeds are super fast. They’re nearly triple that of BCH and BTC, making it the more viable option as a day-to-day spendable currency. It’s crazy that people thing that BTC will ever used as a day to day transaction currency since its so slow. No one in the financial market would ever look at it as a replacement of their traditional system. There’s just no way. LTC on the other hand is the better alternative.
I still don't understand how Litecoin is so high on the CMC rankings. LTC is just a smaller version of BTC, and BTC is already the best crypto out there. Why is it that LTC still holds so much value? It's a bit faster but as lightning network becomes more robust BTC will power right past LTC in terms of transaction speed. I'm not a maximalist or anything, I just don't see the relevance of LTC anymore.
We publish the most accurate Litecoin Forecasts and News including crypto industry experts' opinion on a daily basis
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