Within the first three years of operation, Litecoin had gone on to become the third-largest cryptocurrency by market capitalization. Today, however, Litecoin is primarily used as a speculative digital investment product. Like Bitcoin, Litecoin was initially designed to facilitate online payment services and borderless cash transfers. Litecoin was intended to solve the inherent challenges of slow transaction processing time and high transaction fees that affect Bitcoin to date. These included a different hashing algorithm (Script in place of Bitcoin’s SHA-256), a faster block generation time of 2.5 minutes, 4x Bitcoin’s total supply at 84 million LTC coins, and incredibly lower transaction fees. It is commonly referred to as the earliest Bitcoin fork and the digital silver to Bitcoins gold because it replicated Bitcoin blockchain’s open-sourced code with slight adjustments.
Litecoin is a cryptocurrency developed by renowned computer scientist, Bitcoin miner, and ex-google software engineer Charlie Lee. Importantly, we will look at some of the factors that crypto experts believe will play a critical role in influencing LTC prices in 2022 and beyond.įirst, though, we define what the Litecoin crypto project is, look at how it works and explore its accomplishments. We will also help you gain a better understanding of how the cryptocurrency works, its progress, and explore its price projections from both an analyst and investor perspective. Most analyst reports are bullish about Litecoin’s future price performance, with most concluding the altcoin will break above $288 by the end of 2022.īy the end of this Litecoin price prediction and investment guide, you will be able to make a more informed decision on whether you should invest in Litecoin LTC today. Litecoin investments have reported an average ROI of over 97.08% in the last 12 months.
Litecoin on-chain metrics indicate that more than 62% of current LTC coin holders are currently “In the Money.”
Litecoin recently introduced the Mimblewimble upgrade to their network that improves the confidentiality of transactions for the platform users.