Litecoin - Review 1st quarter 2018
Litecoin market capitalization: 3.195 billion US dollars
Litecoin exchange rate: 401.54 US dollars[status 20 March 2018]
The crypto currency Litecoin was founded in October 2011 by programmer Charlie Lee and is thus one of the very first Bitcoin alternatives. Technically, the Litecoin is almost completely based on the Bitcoin protocol, but has some special features. In particular, the Litecoin blockchain should already support higher transaction speeds in an early phase of the crypto era. In the meantime, Litecoin also has to hold its own against constantly growing competition from new crypto currencies and has so far mastered this task very successfully. The Coinmarket.cap website currently lists him in 5th place after Bitcoin, Ethereum, Ripple and Bitcoin Cash.
Last year, the Litecoin exchange rate showed a moderate but continuous upward trend. At the end of the year, this digital currency also benefited from the crypto hype of the time. From mid-December 2017, their value skyrocketed at a very rapid pace. Litecoin reached its all-time high on 20 December 2017 at an exchange rate of 377.57 US dollars. Since the beginning of January, however, it has lost around 37 percent in value. Between early January and early February 2018, the litecoin exchange rate fell steadily. After a recovery phase with relevant price gains, it has been showing a negative trend again since the end of February. Nevertheless, the Litecoin rate - like the exchange rates of most other relevant crypto currencies - is above the average level of the previous year. Market observers are currently predicting a very positive future for Litecoin. Some of them think it's only a matter of time before it overtakes the bitcoin.
Researchers from the University of Vienna and the Austrian crypto currency broker Bitpanda launched the open source project Pantos at the beginning of 2018, which is to eliminate fragmentation between the various block chains and support cooperation between different crypto networks. Besides some other crypto currencies, the Litecoin will also be integrated here shortly, which can be regarded as proof of the future viability of the Litecoin network.
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