What Is Litecoin?

Litecoin

Volatility profiles based on trailing-three-year calculations of the standard deviation of service investment returns as of January 1, 2021. Given the aforementioned factors playing into Litecoin’s rise to prominence in the crypto world, it’s unsurprising to see the value of LTC tokens take off recently. Despite nearly halving from May’s peak, Litecoin tokens still represent a near double-up for investors who have held steady since the beginning of the year. Accordingly, crypto investors looking at tokens that are not only large but show signs of stability may want to consider Litecoin. Every week, Benzinga conducts a survey to collect sentiment on what traders are most excited about, interested in or thinking about as they manage and build their personal portfolios. Cryptocurrencies are still relatively new for most people and can be extremely volatile. We want our clients to have access to in-depth educational materials to support their trading.

Since then, it has exploded in both usage and acceptance among merchants and has counted among the top ten cryptocurrencies by market capitalization for most of its existence. The What is Litecoin blockchain is capable of handling higher transaction volume than its counterpart – Bitcoin.

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You can learn more about the standards we follow in producing accurate, unbiased content in oureditorial policy. Like Bitcoin, the creation of Litecoin tokens involves a process called mining. For participating in the act of mining, miners are rewarded with Litecoin. A Litecoin halving refers to an instance of halving the amount of Litecoin rewards that miners are given for each block. Litecoin can be used as a P2P method for paying people anywhere in the world without an intermediary having to process the transaction.

Litecoin

Using code from Bitcoin, a new alternative currency was created called Tenebrix . Tenebrix replaced the SHA-256 rounds in Bitcoin’s mining algorithm with the scrypt function, which had been specifically designed in 2009 to be expensive to accelerate with FPGA or ASIC chips. This would allow Tenebrix to have been “GPU-resistant”, and utilize the available CPU resources from bitcoin miners. Tenebrix itself was a successor project to an earlier cryptocurrency which replaced Bitcoin’s issuance schedule with a constant block reward .

Buy Litecoin

And 12,331 top-tier ASIC miners to a Compute North facility where they are pending deployment. In October, the Company began chartering planes to expedite shipments of miners and mitigate the impact of global logistics issues on its growth trajectory. While deliveries of miners may continue to fluctuate in the near-term, based on current estimates, the Company still anticipates all previously purchased miners to be delivered by mid-2022. Once all miners are fully installed, the Company’s mining fleet is expected to consist of approximately 133,000 miners, generating approximately 13.3 EH/s.

  • Falling short of the first major resistance level at $209, Litecoin slid to a late intraday low $180.15.
  • A Litecoin price history can be viewed on the Litecoin price chart above, which includes the asset’s all-time high.
  • This allows Litecoin to confirm transactions much faster than Bitcoin.
  • The Litecoin blockchain is capable of handling higher transaction volume than its counterpart – Bitcoin.
  • In September 2021, a fake press release was published on GlobeNewswire announcing a partnership between Litecoin and Walmart.
  • According to Lee, “In October of 2011, I was playing around with the Bitcoin codebase, and I guess the short of it was that I was just trying to create … a fork of Bitcoin. It was mainly a fun side project.”
  • Litecoin’s first halving event occurred in 2015, trimming its reward from 50 LTC to 25 LTC per block.

We reached as low as $130, before finally finding support and making an attempt at a pivot. We still could not close this gap however, and $165 provided prohibitive resistance. That said, Litecoin’s value as an efficient network with low fees and high utilization among merchants ought to entice cryptocurrency enthusiasts to take a harder look at the token.

What Are Some Possible Uses Of Litecoin?

Indeed, this kind of rapid adoption makes Litecoin one of the leading options for crypto investors seeking to invest in a cryptocurrency with real-world use cases. Click here, or sign up for our newsletter to explore more of Benzinga’s Cryptocurrency market coverage, in-depth coin analysis, data, and reporting. The material is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

Litecoin

Apart from Bitcoin’s helping hand, Litecoin clearly requires institutions to do some heavy lifting and buying momentum to re-enter the market. The collective investor sentiment too seemed to be quite ill-favored, at the time of writing. The coin’s Liveliness, or the ratio between the CDD and CDC, brought to light a clear-cut trend.

Litecoin

Different cryptocurrencies have differing features and potential benefits, and some may be more successful than others. Diversification is the key to successful investing, as it can potentially assist in the mitigation of risk, while also potentially smoothing out portfolio volatility.

Cryptocurrencies Price Prediction: Algorand, Litecoin & Elrond — Asian Wrap 03 Dec – FXStreet

Cryptocurrencies Price Prediction: Algorand, Litecoin & Elrond — Asian Wrap 03 Dec.

Posted: Fri, 03 Dec 2021 00:45:36 GMT [source]

The litecoin rally still starts December 9th nothing has changed , in my last Litecoin TA the ascending wedge played out but I did not expect that flash crash had targets at 185 lowest , god dam. Anyways the good news is that we haven’t broken the 4/1 Gann ratio and the 0.618 Fib Fan, until these two are broken I will stick to my guns and say that the bottom and… To date, Litcoin price has seen nearly +20,500% increase since 2012. Nexo.io – Earn up to 20% APR on Your Digital AssetsMake your idle digital assets work for you with Nexo.

Crypto Crash Deepens, Meme Coins Shiba Inu And Dogecoin In The Red

The live Litecoin price today is $146.20 USD with a 24-hour trading volume of $2,057,543,311 USD. The current CoinMarketCap ranking is #19, with a live market cap of $10,106,860,598 USD.

Litecoin

EOS, LTC, ETC and ETH are just a few of the altcoins that chased after new multi-year highs as layer-1 projects saw an increase in trading volume. Litecoin price achieves $400 amid an overall crypto market boom. In June 2017, Charle Lee left his position at Coinbase to commit to Litecoin full time and is currently head of the Litecoin Foundation, which stewards and finances Litecoin ecosystem development. It’s become easier to use Litecoin for everyday payments thanks to several recent partnerships. LTC came on the scene roughly two years after BTC hit the market in 2009, in the infancy of an industry that has since blossomed into a bustling sector of technology and monetary innovation. The Litecoin Foundation, a nonprofit entity, oversees Litecoin’s technology. Litecoin is an altcoin that aims to have improved speed and transaction costs when compared with Bitcoin .

She has worked in multiple cities covering breaking news, politics, education, and more. Her expertise is in personal finance and investing, and real estate. Full BioErika Rasure, Ph.D., is an Assistant Professor of Business and Finance at Maryville University. She has spent the past six years teaching and has included FinTech in personal finance courses and curriculum since 2017, including cryptocurrencies and blockchain. Around 500,000 LTC was instamined on day one after the LTC genesis block was mined and Charlie Lee and presumably other early Litecoin developers were among the first miners. Like most proof-of-work cryptocurrencies, the amount of Litecoin in circulation gradually increases with each newly mined block. Check out CoinMarketCap Alexandria for the latest cryptocurrency news and educational deep dives.

Who owns Bitcoin cash?

Bitcoin Cash SV is led by Craig Wright, who claims to be the original Nakamoto. He rejected the use of smart contracts on a platform that was meant for payment transactions. 13 The drama prior to the latest hard fork was similar to the one before forking Bitcoin Cash from Bitcoin in 2017.

As such, most users are speculators who look at the value of all coins in circulation as the market capitalization rather than money supply. Still, the average number of Litecoin transactions ranges in the tens of thousands, meaning that the cryptocurrency has a substantial financial footprint.

About Litecoin Price History In India

Integrity Sports Agency , a sports representation agency located in Orland Park, IL today announce that they expect to wrap up their 2nd Annual Holiday Coat Drive with record donations. Along with over 50 coats donated by local residents and businesses, the ISA 2nd Annual Coat Drive has so far raised over $13,000 in monetary donations with which to purchase new coats with a couple of days to go. Pope Francis said Monday he accepted the resignation of the archbishop of Paris because the monsignor could no longer govern effectively thanks to the “gossip” about his relationship with a woman a decade ago.

2 Top Cryptocurrencies to Buy Now and Hold Forever – Motley Fool

2 Top Cryptocurrencies to Buy Now and Hold Forever.

Posted: Mon, 06 Dec 2021 12:22:00 GMT [source]

This is certainly an alternative that I’m watching closely right now. Accordingly, the news that retail giant Walmarthad accepted Litecoin as a payment option took the price of LTC on a wild ride in September. This announcement was one that some investors were prepared to take at face value. Litecoin’s vast adoption thus far has been a great thing for investors in Litecoin.

As of November 2021, 1 LTC is worth around $215, making it the 14th-largest crypto with a market cap of just under $15 billion. However, as the cryptocurrency market has become much more saturated and competitive in recent years with new offerings, Litecoin’s popularity has waned somewhat. Litecoin is one of the few cryptocurrencies with a wide variety of fiat trading pairs, and can be exchanged for U.S. dollars , Korean won , euros and more. Litecoin is one of the few cryptocurrencies with a wide variety of fiat trading pairs, and can be exchanged for U.S. dollars , Korean won , euros and more when you buy Litecoin. Some of the most prominent names include Huobi Global, Binance, Coinbase Pro, OKEx and Kraken. In late 2020, Litecoin also saw the release of the MimbleWimble testnet, which is used to test Mimblewimble-based confidential transactions on Litecoin. Once this feature is available on the mainnet, Litecoin users will also benefit from greatly enhanced privacy and fungibility.

Should I invest Bitcoin cash?

Investing experts recommend sticking with the two most well-known cryptocurrencies, Bitcoin and Ethereum, and to pass on other altcoins, including Bitcoin Cash. … So even though Bitcoin Cash shares its name, experts say investors should take a pass and stick to Bitcoin.

Every 2.5 minutes, the Litecoin network generates a new block–a ledger entry of recent Litecoin transactions throughout the world. The company has purchased 60,000 Antminer S19j Pros, currently considered the industry leading miner, which will commence delivery in November of 2021. Payment towards its previously announced purchase order for 60,000 bitcoin mining rigs (“miners”). This new purchase primarily relies on the cryptocurrency profits generated by the Company’s subsidiary from the past several months of mining in addition to free cash reserves in the Company. This purchase comes after the announcement of the complete upgrade of its miners where 270 L7 miners were purchased using the proceeds from the sale of 12,500 Antminer L3+ miners (see November press release). Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only.

  • It takes Bitcoin nine minutes on average to produce a block, while it takes Litecoin two and a half minutes to produce a block on its network.
  • The main difference, however, involves the processing block time.
  • SegWit was developed to address Bitcoin’s scalability issue, but the proposal created deep controversy within the Bitcoin community.
  • Ripple is both a platform used for the peer-to-peer transfer of currencies , and a digital currency.
  • Miners must successfully solve hash functions in order to add new blocks of a cryptocurrency to the blockchain.
  • In late 2020, Litecoin also saw the release of the MimbleWimble testnet, which is used to test Mimblewimble-based confidential transactions on Litecoin.

Author: Vlad Hatze

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