Litecoin (LTC)

Litecoin is one of the most valuable cryptocurrencies with over 2 Billion Dollars of market capitalization as of June 2020. Litecoin price in January was just above $40 and the price almost doubled within a few weeks. Bears hit the market due to the COVID-19 and Litecoin price plummeted to $27 in March. Litecoin price recovered along with the market in the second quarter and one Litecoin was traded in the range of $40–45 in June.It is predicted that Litecoin price will be $1,200 in a few years from now. By 2030, Litecoin price is expected to reach $1,500. All these numbers seem to be very optimistic but the pace at which Litecoin is being adopted and the implementation of updates to the chain may take the Litecoin price to new heights soon.

Litecoin is one of the oldest altcoins. It was developed in 2011 with Charlie Lee heading the project. Litecoin envisions to be a lighter version of Bitcoin in which users can spend LTC anywhere faster and cheaper. While Bitcoin is hailed as the Digital Gold, Litecoin is known as the Digital Silver. Though Litecoin is developed from the Bitcoin source code, it is technically not a fork and doesn’t share any transaction history with Bitcoin.Litecoin is similar to Bitcoin in terms of the block size limit which is capped at 1MB. The total supply of LTC is limited to 84 Million and new LTC is issued through mining. The block reward is also halved to make sure that Litecoin price remains intact. In terms of technology, Litecoin is ahead of Bitcoin and supports SegWit along with Atomic swaps. Litecoin is often addressed as Bitcoin Lite but it is much more than that. Litecoin is driving adoption with a cryptocurrency that can be used anywhere in the world.