Digital Silver: Why Litecoin Is Poised To Bounce Versus Bitcoin

The development activity describes the project’s strength, which is dependent on the development team behind the project. A strong team with rising development activity frequently attracts market participants to gain confidence in the project. As a result, rising development activity may be regarded as bullish, potentially fueling a significant upswing.

Orders are matched by the exchange matching engine to produce completed traders. LTC’s price continues to hold strong as the bull refuses to give in to the FTX fiasco as price trends are above $60. LTC’s MATIC price continues to look strong despite bearish market sentiments, as…

Some Exchanges Delist LTC After MimbleWimble Upgrade

Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports. This has caused the Litecoin price to rally 15%, while the Bitcoin price has corrected from the all-time high of $7,600 to $7,100. Yet, Litecoin at $62 is still trading significantly below its September high around $90.

Now, another on-chain metric is painting a potentially more bullish picture when it comes to hodlers’ loss-making BTC investments. Almost one month after the FTX implosion ETC began, Bitcoin investors have either capitulated and sold at a loss or continue to hodl unrealized losses. To check Bitcoin’s price live in the fiat currency of your choice, you can use Crypto.com’s converter feature in the top-right corner of this page. If the price is 0.025, that is how many bitcoins are needed to purchase 1 LTC. Against the backdrop of the massive SolarWinds hack, value investor Jack Hurley discusses his investment thesis for Leonovus Inc, whose products provide an “ironclad level of cybersecurity.” With Bitcoin currently at $7,200, this gives us a Litecoin price target of around $1,800 ($7,200/4).

Security

Litecoin is a cryptocurrency that was designed to provide fast, secure and low-cost payments by leveraging the unique properties of blockchain technology. My point is, the market cap for litecoin is actually higher than compared to BTC 3 years ago. And we can always expect a three year delay and that the gap between the two market caps will get closer to each other over time. Simply input the amount of LTC you want to convert, select BTC, and get the result! LTC’s price shows strength as price bounces off from a weekly low of $50 to trend higher, giving bulls some relief. LTC’s price continues to look strong as bearish sentiment for the market lingers,…

With the Beaxy app, you will also get automated trading signals from professionals for free. The crypto market keeps getting touchy and challenging for most crypto traders and investors, with the market being hit virtually every week with bad news that sends the price of most altcoins to their… Some of our favorite altcoins have bounced https://www.beaxy.com/ sharply off multi-month lows in the past few days. A number of cryptocurrency investors are clearly looking to get a jump on the herd, which is likely to wait until after November 16th to move back into altcoins. This outperformance of Bitcoin vs. Litecoin has largely been driven by multiple hard forks on the Bitcoin network.

We supplement the graphical evidence with a formal estimation that takes into account that prices, computing power, and network, are endogenous variables that are jointly determined at the equilibrium. As such, the graphical evidence might portrait a deceivingly strong positive relationship among them. To resolve this empirical hurdle, we follow Lettau and Ludvigson and Lustig and Van Nieuwerburgh and use the dynamic ordinary least squares of Stock and Watson . Our estimation shows that, on average, the prices of five major mineable cryptocurrencies – namely, Bitcoin, Ethereum, Monero, Litecoin, and Dash – depend on their computing power and network.

It has been seriously lagging behind Bitcoin, but I expect the Litecoin price to catch up in the weeks ahead. The drop in the Bitcoin-to-Litecoin ratio over the past few days from 135 to 116 has been driven by positive news for Litecoin. Major South Korean exchange Coinone has added Litecoin to its platform as of early November 2017. The exchange has reportedly processed $3.2 million worth of Litecoin in the first 24 hours of trading. Proof of work describes the process that allows the bitcoin network to remain robust by making the process of mining, or recording transactions, difficult. Ethereum is a blockchain-based software platform with the native coin, ether.

Thus, picking your crypto trading pair is the first step to trading. With regards to Litecoin’s situation however, things seem to be of the bearish nature. This is because, as we have observed before, the LTC price has remained somewhat stagnant, which means the market cap has remained so too. But a suddenly rising NVT ratio in this case means that the denominator, or the transaction volume has been going down significantly – which is a cause for concern from a fundamental point of view. This has happened despite the fact that LTC price action has remained more or less within a limited range in the same timeframe.

• LTC’s price continues to look strong despite bearish market sentiments, as…
• Comparing Litecoin’s chart next to the likes of Dogecoin, Ethereum, Bitcoin, Binance Coin, and several others, shows just how dark the depths of the crypto winter got for the altcoin.
• Litecoin’s development activity has been volatile in the last 30 to 45 days after being largely stagnant for a long time.
• “Difficulty bomb” referred to the increasing difficulty and time needed to mine Ethereum blocks to discourage a fork after the blockchain transitioned to proof-of-stake.

Live educational sessions using site features to explore today’s markets. For those who have been following for a while you may already be well aware of our stunningly correct bearish stance on the entire crypto space since Spring of 2021 (how we doing bulls?). If this were NBA JAM the video game–anyone who understands the inherent unpredictability of markets and posseses the ability to ‘zoom out’ likely would have uttered the phrase… Last years, have been incredible – tremendous growth, new protocols, defi, metaverse, all of it.

Charlie Lee, a MIT graduate and former Google engineer, is Litecoin’s creator. Litecoin is based on an open source global payment network that is not controlled by any central authority. Litecoin differs from Bitcoins in aspects like faster block generation rate and use of scrypt as a proof of work scheme. Or in other words, market cap divided by network transaction volume – both measured in USD. Litecoin’s development activity has been volatile in the last 30 to 45 days after being largely stagnant for a long time.

Scrypt was chosen due to its memory-intensive features that limit the use of AISIC miners. The Litecoin protocol can manage higher transaction throughput than that of Bitcoin. The litecoin blockchain produces blocks more frequently than bitcoin’s protocol which allows Litecoin to process more incoming transactions. Since the blocks are produced four times faster on Litecoin, it is required that 840,000 blocks be mined before the reward can be cut in half again.