Litecoin (LTC) has experienced a rally, reaching above $82 after months of lagging behind its all-time peak of $420. Despite being widely traded and transacted, LTC has struggled to gain attention and has not benefited from its early association with Bitcoin as "silver to Bitcoin's gold." The coin has failed to spark a feeding frenzy and has lost funds to other markets like meme tokens and DeFi. However, growing attention may lead to a short-term rally. The Litecoin project has been overshadowed by hotter trends but has potential with its liquidity and adoption. The coin's biggest flaw is being forgotten and displaced. Litecoin's technical developments, such as its veiled transaction technology, have not allowed it to break out as a privacy coin. The Litecoin hashrate has reached a new all-time high, largely influenced by F2Pool and ViaBTC. Binance Pool has also seen increased mining activity in Litecoin. Whales have a small influence on Litecoin, with the top 100 addresses holding only 41% of the supply. The network handles around 200K transactions per day.
- Content Editor ( cryptopolitan.com )
- 2024-11-14
Litecoin (LTC) moves up, but can it really become a meme coin?