Litecoin current price is $157.66 with a marketcap of $10.52 B. Its price is -7.44% down in last 24 hours.
- Litecoin (LTC)
- Live Price $157.66
- 24h % -7.44%
- Market Cap$10.52 B
- Volume$2.64 B
- Available Supply66.75 M LTC
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Did you know that Litecoin was the world’s first altcoin? It has attracted a lot of attention as a world-leading cryptocurrency. In 9 years, it has been able to make its presence felt in the crypto market.
Unlike most other altcoins, it was able to outperform BTC for several years after its launch. This has contributed greatly to its popularity. It is also the biggest reason why LTC has managed to find a place of pride in every crypto investor’s consideration.
Currently, it is ranked 9th with a market capitalization of $3,517,030,492. Its total supply is four times higher than Bitcoin's; it is also four times faster.
Litecoin is a digital currency that comes into being as a fork of the Bitcoin core client to serve as a faster, lighter, and cheaper supplementary coin to the original Bitcoin.
Introduced by an ex-Google engineer, Mr. Charlie Lee in October 2011. Mr. Lee’s main goal was to create a more efficient version of Bitcoin.
At the time of its creation, it was described as "the silver to Bitcoin's gold". He essentially modified Bitcoin's DNA and then released it to the world. He raised Bitcoin's supply and reduced its block time to create a faster and cheaper coin. He also changed Bitcoin's mining algorithm to a new system called Scrypt.
Litecoin Pros and Cons
1 Fast decline in its uniqueness. The main selling point for Litecoin has always been its promise to improve upon Bitcoin’s shortcomings. However, with Bitcoin embracing the SegWit update it eliminates that advantage.
2 Flattering credibility. When Charlie Lee sold all his Litecoin holdings, his faith in the coin was questioned. Furthermore, the withdrawal of the Litepay service which has already been announced and was highly anticipated hurt the credibility of Litecoin.
Uses of Litecoin
- It is an online payment system for day to day private transactions
- Low-cost money transfers
- Opportunity to invest in innovative early-stage startups
- Booking flight tickets and hotels for travel purposes
- Payment for digital publishing engagement
- De-corrupting charities by increasing accountability using the Blockchain technology
- education (payment of school fees)
- Battling electoral fraud (elimination of bribes)
- Encouraging ethical business practices