Litecoin News

Litecoin price analysis, is it worth investing?

The cryptocurrency market has continued to face tough times with major dips and market corrections in the last few months. Many coins have reduced in price, and this has left many traders unsure of what may happen in the future. As such, this article will clear the air on the future of litecoin and whether it’s worth investing.

Currently, litecoin is the 6th largest digital coin with a market capitalization of $6,843,620,683. Additionally, the coin is trading at $120.40 after experiencing an increase of 1.04% in the last 24 hours. Just like bitcoin, the platform can be used in making payments, but much faster as compared to other digital coins. In fact, the coin is referred to as ‘lite’ since it’s almost four times faster than bitcoin. If you decided to buy coffee using litecoin, it would only take 2.5 minutes to complete the transaction!

The coin is becoming more and more important with new developments. Its interest has risen with Litepay and has continued to increase. Currently, litecoin seems to be the preferred option for savvy investors in the crypto inverse. For reference, digital coins are all the distinct cryptocurrencies from bitcoin, the industry’s leader since 2009, and litecoin may be the best, most secure as well as one with the most untapped potential.

The platform is a decentralized entity, thus functions without any central authority or governance agency. It allows creation and transfer of tokens, based on an open source cryptographic protocol. With these and more features, the coin has gained much attention from institutional investors. As such, litecoin transactions are increasing every day.

A few years of consolidation among the top ten cryptocurrencies and transaction networks. The coin seems primed to break out and reach genuinely elite status. As such, the coin may be worth investing.

Do you think litecoin is primed for elite status?

Share your thoughts in the comment section below

coinmag

Having contributed to many leading financial blogs, Ken's love for cryptocurrencies and the blockchain technology has him on high alert on all price developments within the cryptocurrency sphere.

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