Review on Litecoin by Toprak Dere
About Litecoin
Litecoin is one of the oldest cryptocurrencies on the market. Like other cryptocurrencies, it is a global, digital payment method based on blockchain technology. The crypto currency was established in 2011. The former Google engineer wanted to create a cryptocurrency that is lighter than Bitcoin and therefore more suitable for everyday use.
Peer-to-peer cryptocurrency is a branch of the Bitcoin core client and therefore has many similarities to Bitcoin. However, the platform uses different blockchain. This provides a faster processing or transmission speed. Cryptocurrency creation and transfer software is open source. The platform also has a completely decentralized structure.
Since its launch, the cryptocurrency has experienced steady growth. With a market value of USD 4.8 billion and current price USD 78.37, it ranks 6th in terms of market value. It is considered one of the most popular cryptocurrencies on the market. This can be explained, among other things, by its performance, but also by its functional proximity to Bitcoin.
Updated 4 years ago
Rating has not been changed
Litecoin (LTC), the 7th largest cryptocurrency in terms of market volume, tracks the overall cryptocurrency sentiment and plots a bearish graph. However, the vast majority of analysts believe that the outlook is not depressing and that LTC will again move to a bullish chart with the whole market.
The most critical level for Litecoin to continue its rise is thought to be $ 160. A break above $ 160 has the potential to push the price up to $ 185, 195 and even $ 205, according to analysts.
However, in the statements made, it is suggested that investors should be cautious, as a serious selling pressure may be encountered at $ 158 before $ 160.
Pros
- mining can be done easier
- fast transaction
- cheap
- for starting crypto very convenient and affordable
- withdraw fee is very low
Cons
- It may be reduce the value of litecoin due to its rivalry with bitcoin
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Comments (1)
February 04, 2021
I recommend you to update your review. Because these days, while the ltc price is suddenly rising, it is suddenly falling. This situation can cause a lot of money loss. For this reason, I do not find this cryptocurrency useful.
