Litecoin is a young cryptocurrency, but it's steadily gaining popularity. It was created in 2011 by Charlie Lee. Although Litecoin has been created as a derivative of Bitcoin, both tokens are essentially different. If you're looking for the latest info about Litecoin, you're in the right place! You'll find every information needed on our Tokeneo News website.
Litecoin bears many similarities to the most popular crypto asset, Bitcoin. The block creation time in the Litecoin network is 2.5 minutes, which is a much better result than that obtained by Bitcoin. This means that the Litecoin network works much more efficiently and faster than the Bitcoin infrastructure. In addition, LTC, unlike BTC, does not use the "SHA-256" mechanism, but the "script" protocol. Currently, 56 million LTC tokens are in use and the maximum number of coins is 84 million tokens.
Due to modern technological solutions and good market capitalization, Litecoin is a popular currency for trading. Few investors know that LTC has achieved a market capitalization of $1 billion within two years of its inception. Now, Litecoin ranks 6th in the ranking in terms of market capitalization among the 1,600 cryptocurrencies available on the market. The market valuation is $8 billion, and the coin price stays within $146 range per token.
What was the price of Litecoin over the years? From 2013 to mid-2017, the price of Litecoin remained at the level of $10. This situation changed in the summer of 2017 when Litecoin's price suddenly jumped up. By January 2018, the value of Litecoin increased to as much as $50. In January 2018, we could observe ATH (all-time high - the highest result in history) of Litecoin, when LTC reached the value of over $300. This good situation on the chart, however, did not last too long. Bessa in 2018 caused the price of Litecoin to fall sharply. Currently, the value of this coin is in the range of $20-$30.
The cryptocurrency analysts do not agree on the prognosis of Litecoin. Some traders believe that the LTC price will remain stable at several dozen dollars over the next few years. According to other investors, soon we will be able to admire the next peaks of Litecoin. Regardless of the prognosis of Litecoin, it is certainly a coin worth keeping an eye on - especially in the long run.