Meanwhile, Litecoin was supposed to modestly take the place of a useful alternative. On the contrary, they believed that Bitcoin would serve as the fundamental digital coin. The Litecoin Foundation has never claimed to compete with Bitcoin directly. Litecoin Price Chart, Source: CoinMarketCap The project aimed not only to boost the rate of Litecoin’s price growth but also to promote LTC as a trustless peer-to-peer medium of exchange. In 2016, Litecoin became the second-biggest cryptocurrency, overtaking all existing altcoins at that time. Some of the things they have in common are anonymity, decentralization, the ability to be mined, and the consensus mechanism (Proof-of-Work). As a fork of Bitcoin, the LTC network is based on the BTC protocol. Litecoin used to be one of the first cryptocurrencies people learned of when they entered the market. The LTC network was designed to solve its elder brother’s network problems, such as transaction speed, scalability, and high commission fees for each financial transaction made on the blockchain. Litecoin (LTC) is a decentralized peer-to-peer cryptocurrency created by Charlie Lee, a former Google employee, in 2011. How high can Litecoin’s price realistically go?.Please remember that our LTC price prediction does not constitute investment advice, and you should do your own research before deciding whether it’s a good investment or not. In this article, we’ll take a look at Litecoin’s fundamentals and its prospects as a long-term investment. However, this cryptocurrency is still going strong, and we are very likely to see the price and market cap of Litecoin rise again in the future. Despite having a solid technical foundation, Litecoin doesn’t really have any of those things. Lately, there has been a lot of talk happening about how Litecoin has “fallen off.” Nowadays, all trending tokens are either attached to a strong brand, have a lot to offer besides being a store of value, or are simply quirky enough to be noticed by millionaires. At the moment, it is still ranked among the top 30 cryptocurrencies by market cap. This crypto coin has been active for over nine years now and has managed to be successful for most of this period. Read more on ambcrypto.Litecoin has been the third cryptocurrency by market capitalization for a very long time. Furthermore, its market cap dominance depreciated by 8.98% over the last 30 days.Source: SantimentDespite the grim picture painted by Litecoin, there was something to look forward to. However, as of 3 October, this number stood at 308.45 million after a decline of about 40%.Litecoin’s market cap didn’t put on a brave face either.Īt the time of writing, this number stood at 3.76 billion.
Mweb litecoin update#
5GkpkLkOC4- TxStreet October 2, 2022This latest update announced on the 3 October, stated that the new technology will help LTC users make discrete transactions and help Litecoin with its scalability.Įven though this development may help the altcoin’s growth in the long-term, Litecoin’s performance has been a disappointment since September.The alt’s volume has been on a decline since the past week.Īs can be seen from the image below, LTC’s volume stood at its peak at the beginning of the week, at 508 million.
Mweb litecoin upgrade#
In line with the same, the blockchain recently announced an MWEB feature that would allow users to make confidential transactions. MWEB is now live on #Litecoin Street!MWEB is an upgrade that gives users a new opt-in feature – confidential LTC transactions.This also improves scalability as MWEB txs are stored in a separate extension block.
Litecoin has been making improvements to its existing technology for quite some time now.
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