Friday, April 26, 2024

© 2023 - All Right Reserved. CryptokenTop

by Hideo Nakamura
Rank #21
Litecoin (LTC)

Litecoin LTC

$ 85.63
0.00133453 BTC
Marketcap
$ 6,372,453,184
Volume (24h)
$ 449,818,279
Circulating Supply
74,464,633 LTC
Total Supply
84,000,000 LTC
Buy Litecoin
Sell Litecoin
All time high price: $ 410.26 79.13%
All time high date: May 10, 2021
Add to Watchlist
  • Charts
  • Historical Data
  • Markets
  • Social
  • Comments
  • Zoom
  • Hour
  • Day
  • Week
  • Month
  • Year
  • All Time
  • Type
  • Line Chart
  • Candlestick
* Currency in USD
Historical Price for Litecoin
DateOpenCloseHighLowVolume
Litecoin Markets
#SourcePairVolumePriceChangeUpdated
LTC
USD

Litecoin (LTC) price has increased 2.59% today!

Litecoin (LTC) is a cryptocurrency that operates on a blockchain. Currently, it is trading at $ 85.63 and a market capitalization of $ 6,372,453,184. The price of Litecoin has increased 2.59% in the last 24 hours. Currently, Litecoin ranks #21 among all cryptocurrencies by market capitalization and has a daily trading volume of $ 449,818,279.

What is Litecoin (LTC)?

Litecoin is a peer-to-peer cryptocurrency created by Charlie Lee. It was created based on the Bitcoin protocol but differs in terms of the hashing algorithm used. Litecoin uses the memory intensive Scrypt proof of work mining algorithm. Scrypt allows consumer-grade hardware such as GPU to mine those coins.

Why Litecoin?

Litecoin is a cryptocurrency that has evolved from Bitcoin after its own popularity in the industry, this alternative, or ‘altcoin’ has emerged to allow investors to diversify their digital currency package, according to Investopedia. Litecoin is one of the most prominent altcoins and was created by former Google employee and Director of Engineering at Coinbase, Charlie Lee. Litecoin was the first to alter Bitcoin and the most significant difference is that it takes 2.5 minutes for Litecoin to generate a block, or transaction, in comparison to Bitcoin’s 10 minutes.

‘While this matters little to traders, miners who use hardware to run Bitcoin’s network cannot switch over to Litecoin. This keeps bigger mining conglomerates away from Litecoin because they cannot easily optimize their profits by swapping to another coin, contributing to a more decentralized experience. Litecoin also has bigger blocks, and more coins in circulation, making it more affordable and swift when transacting,’ Investopedia explained.

As explained above, Litecoin can transact a lot faster than Bitcoin, but there are also a number of other characteristics that investors need to know before trading. Litecoin can handle higher volumes of transactions because of the capability of transacting faster and if Bitcoin attempted to transact on the scale of its altcoin, a code update would be needed. However, Litecoin’s blocks would be larger, but with more ‘orphaned blocks’. The faster block time of litecoin reduces the risk of double spending attacks – this is theoretical in the case of both networks having the same hashing power.

Litecoin Technical Details:

The transaction confirmation time taken for Litecoin is about 2.5 minutes on average (as compared to Bitcoin’s 10 minutes). The Litecoin network is scheduled to cap at 84 million currency units. 

Litecoin has inspired many other popular alternative currencies (eg. Dogecoin) because of its Scrypt hashing algorithm in order to prevent ASIC miners from mining those coins. However it is said that by the end of this year, Scrypt ASIC will enter the mass market.

Litecoin in 2022 and beyond

Litecoin was launched in 2011. Over the last 11 years trading in the market, it has been underperforming against bitcoin in terms of price despite it being the silver to bitcoin’s gold. This is most likely due to the proliferation of newer alternative cryptocurrencies with new utility such as smart contract, DeFi, GameFi, governance and more. Litecoin tends to hold value quite well and experience lower volatility as a mature cryptocurrency, especially when compared to meme coins.

Market watchers are observing what will the price of Litecoin be in 2025. Based on historical performance, Litecoin tracks the overall cryptocurrency market. As bitcoin price and the overall crypto market cap goes up, Litecoin tends to follow accordingly.

Leave a Comment

Save my name, email, and website in this browser for the next time I comment.

Litecoin Latest News and Articles

Crypto Update

Study Observes Consolidation of Bitcoin Mining Rewards With...
Ethereum L2 Protocol Blast Surpasses $1 Billion in...
Revised Claims Valuation by FTX Estate Amid Bankruptcy...
Bitcoin Mining Companies on Nasdaq Register Remarkable Growth...
Follow us

CryptokenTop

CrypTokenTop is a website dedicated to providing comprehensive information and analysis about the world of cryptocurrencies. We cover topics such as Bitcoin, Ethereum, NFTs, ICOs, and other popular crypto topics. Our mission is to help people learn more about the crypto space and make informed decisions about their investments. We provide in-depth articles, analysis, and reviews for beginners and experienced users alike, so everyone can make the most out of the ever-evolving world of cryptocurrency.

Facebook Twitter Youtube Twitch

Editors' Picks

Microstrategy Increases Bitcoin Portfolio to 189,150 BTC
2023 Recap: The Year’s Most Influential Cryptocurrency News...
2023 Crypto Wealth Surge — Satoshi Nakamoto Tops...
Analysis: Nvidia and Bitcoin Lead as Top Performers...

© 2023 All Right Reserved. CryptokenTop

en_USEnglish
arالعربية zh_CN简体中文 fr_FRFrançais de_DEDeutsch id_IDBahasa Indonesia ja日本語 pt_PTPortuguês ru_RUРусский es_ESEspañol en_USEnglish