When other Altcoins are trying to fill the gaps left by Bitcoin, Litecoin (LTC) is trying to become the Bitcoin other choice with better features and a bright future. The rise of the coin over the last two months is a clear indication of the platforms intent to outshine Bitcoin and Ethereum.
A growth of more than 30% should not be taken lightly given the slump experienced in December and January across the cryptocurrency landscape. If Charlie Lee predictions a few years ago are anything to go by, the platform future seems bright and the rise being experienced now is not generic but what the coin sands for.
Lee’s comparison between Litecoin (LTC) and Bitcoin might sound far-fetched but the reality on the ground seems to confirm his prediction as we enter the final lap of quarter one. Litecoin share a lot of similarities with Bitcoin and this makes it easy to predict their prices based on their historical performance e and the ever growing demand for each.
What is Litecoin (LTC) Doing Right?
Most Litecoin enthusiasts predict that Litecoin will close 2018 at$600. Well, this could sound out of this world but currently trading at $203.26 and inching up steadily, the prediction can be achieved even earlier. No one expected the coin to hit an all-time high of $300. Its consistent rise can only mean one thing; challenging Ethereum and edging close to Bitcoin.
With the launch of LitePay in December 2017, a lot is happening behind the scenes. LitePay is a positive move towards offering better services than Bitcoin; a move seen as a way to woo Bitcoin users to Litecoin. With Bitcoin transaction fee on the higher side, Litecoin could hugely benefit from users looking for a currency processor that charges minimal fees.
With many investors predicting a fork in the near future, this will only mean one thing; value addition to LTC. This also explains why the coin is rising and the speed seems unstoppable. With partnerships across the banking and currency remittance players; there is much in store for the investor and ordinary users.
Litecoin (LTC) is approaching the merchant front with a lot of caution and this could only mean that they are seeking partnerships with players of repute. The developers know they are not playing alone in the sectors and giving the user what they demand is critical.
With increased publicity and mentions alongside Bitcoin and Ethereum, Litecoin is gaining extra mileage and it is about time for fence sitters to come onboard. With media involvement, adoption will increase and this will impact positively on the coins traction. After all, who does not like the convenience and comfort of receiving and sending money globally at low fees?
Litecoin has just jumped from rank 6 to 5in terms of market capitalization with Ripple and Bitcoin Cash separating it from Bitcoin and Ethereum. Those investing in Litecoin now are poised to reap better yields in the near future. However, according to Charlie Lee Meme tweets, the only Litecoin’s enemy is Bitcoin Cash.
With many Altcoins out there, Litecoin (LTC) is one of the best coins to invest. However, it is important to look at how it has been performing before you stake on it. With a market cap of $11,280,506,275, it could sound weird to compare with Bitcoin’s $186,404,557,571. However, the growth LTC is experiencing is a sign of good things to come.