What does the current Litecoin price tell us? All you need to know about LTC price, market cap, and more. What to expect from LTC in the future?
Litecoin has a market value of $ 42.76 and a total market cap of $ 2,771,879,788 and currently ranked at #7 of all cryptocurrencies.
The price for today is -2.52%, with 24 Hour volume sales of $ 42.76.
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Litecoin is an open-source payment system and a peer-to-peer digital currency that allows instant payment around the globe without any governing body. Litecoin was released under the MIT/X11 license, and it employs mathematics to enable users to manage their finance and also to secure the system itself.
The digital currency, which is also known as LTC for short, is a spinoff of the largest digital currency, Bitcoin. Reportedly, LTC cryptocurrency was founded in 2011 by a computer scientist known as Charlie Lee on Github. The Litecoin system tends to enable enhanced storage efficiency and time required for the confirmation of a transaction via its blockchain. This rate is not commonly seen with many other cryptos.
Interestingly, Litecoin users get instant confirmation times on any transaction involving the crypto. Moreover, the Litecoin network handles multiple transaction volumes, when compared to what the largest crypto does. This is due to the fact that Litecoin undergoes many block generations. Additionally, developers or users are able to make, distribute as well as to run the edited versions of the Litecoin software.
In just two years after release, Litecoin recorded significant growth in aggregate value, which resulted in a 100% leap in a day. Despite seeing price struggles lately, many industry participants are still optimistic about digital currency performance in years to come. Following its fast transaction rate, many enthusiasts are expecting Litecoin to become a proven medium of commerce, which will influence its value performance.
Many trading experts and industry analysts forecasted the price of LTC cryptocurrency for this and other years to come. A glance at the new value of Litecoin gives a helpful clue on how the traders perceive LTC movements. As per the digital currency data provider, Coinmarketcap, LTC is selling at the value of $42.44 USD per coin, at the time of writing.
For 2020, LongForecast says that LTC cryptocurrency will mostly fluctuate in price between $30 and $50. In April, it forecasted that the maximum value of Litecoin will be $51.57, but will decline to as low as $46.92 as the month ends. LongForecast noted that the good times for the LTC crypto would occur in May, where it will see its most significant spike for 2020, at the value of $56.00.
TradingBeasts prediction somewhat signals a not-so-great price movement for Litecoin. For May 2020, it forecast LTC to reach a maximum value of $48.019 and an average price of $38.416. For the whole year (2020), Trading Beats says that LTC will hit the most significant point at $59.343, which will occur in October.
Crypto exchange aggregator, CoinSwitch, made a bullish prediction for Litecoin in 2020. It predicted that LTC could reach up to the $500 price mark by June. CoinSwitch added that the cryptocurrency would continue to maintain the score until the last month of 2020, where it will slightly decline to as low as $470.
Additionally, CoinSwitch forecasted that Litecoin price would reach about $1200 in the next five years. The prediction is based on the fact that Litecoin will be halving in August 2023, after which the LTC block rewards will be divided into 6.25 LTC. CoinSwitch said that the upcoming event would prompt Litecoin users to invest and trade more, which will eventually grow the total worth of the cryptocurrency.
Another crypto platform, DigitalCoinPrice, forecasted that Litecoin would mostly trade at the $70 price mark in 2015. From January, it predicts Litecoin to reach $73.05 and will only drop to $60 price mark in August and October. Meanwhile, it forecasted that $78.25 would be the most significant spike in the next five years.
In accordance with the latest long-term forecast for Litecoin by CoinPrice, the cryptocurrency will reach $217.57 by the end of 2014. From this point, Litecoin will reach $239.56 by the end of 2025, that’s after it hits $235.37 in mid-2025.
Still counting on the 4th halving of Litecoin in three years, CoinSwitch is optimistic that the cryptocurrency will significantly rise in value to rank as the third-largest digital currency. In the next ten years, they said that the LTC crypto would see its biggest spike and more from $1500, as the developers work to maintain the technological trends.
Again, CoinPrice forecasted that the price of the crypto would reach $372.20 in the next decade. It further relayed that Litecoin would end 2030 at $376.24. From this point, the cryptocurrency will continue to spike and would later reach $405.62 in 2031.
During the early years of the cryptocurrency, the team behind the network kept up with relevant and recent technologies, which contributed to its growth. For instance, after the Litecoin network implemented the Atomic swaps, including the SegWit protocol, it stood out in the cryptocurrency payment space, which resulted in a significant boost for the crypto. Hence, Litecoin is likely to beat some other cryptocurrency in the market, if the developers continue to implement relevant technologies that will enhance its global usability.
Created in October 2011, Litecoin (LTC) is one of the biggest and early digital currency available in the world. It was created by Charlie Lee, a Massachusetts Institute of Technology (MIT) graduate who also worked at Google as an engineer. Although the cryptocurrency was modelled from Bitcoin, which is the largest of them all, LTC wasn’t developed to run as a rival, rather, as an alternative to BTC.
Litecoin is a fork of BTC, and sometimes it is regarded as the silver to BTC’s gold. After forking from Bitcoin, the LTC cryptocurrency observed new implementations, which tends to make it more efficient than the largest crypto. Some of the improvements made to Litecoin covered the block transaction time, the hashing protocol of the system and total supply cap value for the LTC crypto.
The block time adjustment done on the Litecoin network made it faster than transactions involving Bitcoin. BTC has a block generation time of 10 minutes, while LTC has only 2.5 minutes. Still, on the differences between both popular cryptocurrencies, Litecoin developers chose to utilize the ‘scrypt’ consensus mechanism, instead of the ‘SHA-256’ proof-of-work miners that BTC uses.
For some reasons that include the fairer mining distribution model for Litecoin, digital currency investors show interest in LTC. Additionally, investors are attracted to Litecoin following the fact that the crypto might be scarce in the future, which will probably increase the market valuation of LTC. As Litecoin is intended to serve as an alternative to Bitcoin, many people believe that the team behind the network will adopt and maintain technological trends that will support the crypto’s growth.
Back in the early times of Litecoin, as per the data tracked by coinmarketcap, LTC traded $4.37 at the opening of the 29th day of April 2013. It saw a high of $4.57 and later closed the day at a value of $4.38. For a long time, Litecoin continued to trade in a digit price mark in 2013, which only lasted towards the end of the year.
Another significant trade with Litecoin worth noting is the crypto’s Lightning Network transaction. Just after the Litecoin developers implemented the Segregated Witness protocol (also known as SegWit) in the fifth month of 2017, the cryptocurrency completed its first-ever Lightning Network transaction. The trade involved only 0.00000001 LTC, which was done under a second from Zürich to San Francisco.
On the 1st day of May 2013, Litecoin had a market value of $65,604,596. At that time, it started at the rate of $4.29, reached a high of $4.36 and later closed in a short loss of about $3.80. Except for the 30th day of May, where LTC closed at exactly $2.97, the cryptocurrency maintained the $3 price mark.
Litecoin began noticing an increase for the year on the 22nd day of November, where it closed at a two-digit price point, $10.13. From this day, LTC continued growing to the extent that it hit $40 but later dropped to $21.15 on the 25th day of December. On the last day of the year, it added some points to close at $24.35.
Notably, the most prominent times for LTC cryptocurrency in 2013 began towards the end of the year, where the price started growing significantly from the $10 mark. The highest peak for the year was attained on the 28th day of November, where Litecoin reached $53.15 but later closed with short drops at $43.39.
Litecoin traded at the price of $24.35 on the first day. It continued trading on the price mark until the 6th day of February, where it dropped to $19.91 after seeing a $20.89 high on that same day. 2014 was not a good year for the cryptocurrency, as it continued on the $10 price mark and saw more decline to one digit price at exactly $9.93 on the 14th day of June. LTC continued on the free-fall till the end of the year.
Litecoin noted declines towards the end of the year; hence, the high times for LTC in 2014 could be traced back to the beginning of the year. The most-traded high point for the year is the $20 mark, which only lasted until the 6th day of February. The highest price of Litecoin for 2014 occurred on the 6th day of January, where it reached $32.06.
From the February drop, the cryptocurrency continued declining to even $1 for 2015, 2016, and briefly in 2017. On the 12th day of April 2017, the cryptocurrency went up to the $10 price mark, at exactly $10.79. The price continued to increase, reaching about $100.28 on the 2nd day of December. LTC hit a $300 price point in the same month but later ended the year at the price of $232.10.
The most profitable moment for LTC in 2017 notably happened in the last month of the year. On the 19th day, the cryptocurrency reached its all-time high (ATH), which was $375.29. From the ATH, the crypto fluctuated for some time and gradually declined back to the two-digit price mark at exactly $96.68.
At the time of writing, LItecoin is trading at $42.67 USD, with a total market value of $2,751,800,702 USD. it has a 24h volume of $3,363,019,132 USD, and 64,492,920 LTC in circulation out of the total supply of 84,000,000 LTC.