What’s Going On With Litecoin (LTC)?
Litecoin is feeling the love today, which is ironically Valentine’s day.
It’s up nearly 30% today and is by far the best performing crypto in the top 10. Plus, it passed Cardano to reclaim the #5 spot.
Let’s find out what’s going on.
Litecoin (LTC) is one I last wrote about in early July here and here. At the time LTC traded in the $40 to $50 range. And we got to a high of around $372 in December.
Since then Litecoin has sold off with the rest of the crypto market. It bottomed out around $110 and trades near $200 as of this writing.
The biggest news right now is that a group of developers may fork Litecoin to form Litecoin Cash.
According to the Litecoin Cash website it will fork at block 1371111, and for every 1 LTC you own you’ll be able to claim 10 LCC.
The benefit of LCC according to the website is that it will use SHA256 mining, which will enable previously obsolete Bitcoin mining hardware to be used.
Per Litecoin Cash it will also have lower transaction fees and a better difficulty adjustment (using Dash’s DarkGravity algorithm) compared to Litecoin.
According to Litecoin founder Charlie Lee it’s a ‘scam’ meant to confuse LTC owners.
I’m not so sure about these forks. I still like the original LTC. It continues to develop the protocol and recently partnered with Aliant Payment Systems so you can make every day payments in LTC.
What about you, which do you prefer, LTC or LCC?
and trade cryptos on Binance
I am not sure if this is because of LCC announcement or not but yesterdays bearish shooting star candle was not confirmed and invalidated by todays nice green candle (+10%).
At the moment it almost retraced yesterdays shadow.
Overall, the crypto market reverted and this is exiting.
Interesting, thanks for sharing.
I could see BTC retesting its recent lows, or at least tempting too. That would bring another opportunity to buy LTC as well.
Not sure about that. Going down back to 6K seems unreal due to recent activities from US and big deals for Ripple and LTC. Also the trend cycle has been repeated and according to that crypto markets will now start to grow up again. Sell offs may occur but not that big. My personal opinion though. :)
Today was Litecoin's Valentine's Day present to me! It really does love me!!!
Lol... me too!
It’s good to make people aware of this, Litecoin was initially meant to be the crypto for smaller transactions so not sure why we need Litecoin Cash.
I'm not sure why either... looks like a money grab.
Good post, you got my upvoted.
I got out of Bitcoin and into LTC a while back as I was getting concerned about the transaction cost. Haven't looked back since
Nice... I like both ;-p
Yes you are right... in terms of cost and timing BTC is not a good choice but due lot of hype and publicity people are still crazy about BTC and that why I chose LTC over BTC simply. If you really concern about the cost and timing then I would recommend XRP as well.
@techstack also have a look at #waves and #wavesplatform. Cheap fees and decentralised exchange.
when i play this ltc the more i like. because of the ease
I really like Litecoin but I don't know what to think about the fork.
Same here!
I'll stick with LTC. Great to see growth again! Thanks for posting this. Upvoted!
Cheers!
Yes absolutely I am also happy for increasing Ltc
After reading your post.
I have checked ltc price.
I am very glad to see that.
Youre right, Litecoin feeling love in this valentine's day.
Very appreciate to watch this.
Thanks @g-dubs
Thanks!