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Litecoin

LTC

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About Litecoin

Litecoin is a cryptocurrency that uses a faster payment confirmation schedule and a different cryptographic algorithm than Bitcoin.

Litecoin (LTC) is a peer-to-peer cryptocurrency that strives to provide fast and low-cost payments by leveraging the unique properties of blockchain technology. It was created in 2011 by Charlie Lee, a former Google employee, who intended Litecoin to be a "lite version of Bitcoin," featuring many of the same properties as Bitcoin but lighter in weight. Litecoin was actually created as a fork of Bitcoin. A fork happens whenever a community makes a change to the blockchain's protocol or basic set of rules. Forks creates a second blockchain that shares all of its history with the original but is headed off in a new direction. It differs in terms of the hashing algorithm used, hard cap, block transaction times, and a few other factors. With a block time of just 2.5 minutes and low transaction fees compared to other blockchains, Litecoin aims to be suitable for micro-transactions and point-of-sale payments.

Litecoin operates on a blockchain-based system. Like Bitcoin and several other cryptocurrencies, Litecoin uses the Proof of Work (PoW) consensus algorithm to aim to confirm transactions quickly and without errors. The combined strength of the Litecoin mining network prevents double-spends and a range of other attacks while aiming to maintain network uptime. As of November 2023, 73.9 million LTC have already been mined out of a total maximum supply of 84 million.

Litecoin seeks to be accepted by a wide range of merchants, with over 2,000 merchants and stores accepting LTC across the globe as of January 2021. Litecoin's pursuit of speed and cost-effectiveness positions it as an alternative to Bitcoin in developing countries, where transaction fees may be the deciding factor on which cryptocurrency to support. In late 2020, Litecoin also saw the release of the MimbleWimble (MW) testnet, which is used to test MimbleWimble-based confidential transactions on Litecoin. Officially deployed on Litecoin's block height of 2,257,920, this feature aimed to make Litecoin's users benefit from improved privacy and fungibility.

Litecoin was created by Charlie Lee, a former Google employee, who intended Litecoin to be a "lite version of Bitcoin", and was released via an open-source client on GitHub on Oct. 7, 2011. The Litecoin Network went live five days later on Oct. 13, 2011. Since then, it has seen an increase in usage and acceptance among merchants and has counted among the top ten cryptocurrencies by market capitalization for most of its existence. Today, Charlie Lee supports the use of cryptocurrencies and is the managing director of the Litecoin Foundation—a non-profit organization that works alongside the Litecoin Core Development team to help advance Litecoin.

Like Bitcoin, Litecoin is a digital currency that can be used to buy things at places where it's accepted and to transfer funds between accounts.

As a fork of Bitcoin, Litecoin did not aim to change the fundamental logic or architecture – being nearly identical to Bitcoin in terms of use and design — but with a reduced transaction confirmation time and lower cost (as much as 50 times lower, depending on market conditions). Litecoin's speed and relatively low fees make it appealing as a payment option, and means of transferring value, but the network has significantly fewer miners than Bitcoin, which could have an impact on the overall security of the network.

Like Bitcoin, Litecoin has a fixed supply: there will only ever be 84 million LTC.

Specialized computers known as 'mining rigs' perform the equations required to verify and record a new Litecoin transaction. In the early days, a typical desktop PC was powerful enough to participate, allowing pretty much anyone curious to try their hand at mining. These days, the computers required are massive, specialized, and often owned by businesses or large numbers of individuals pooling their resources.

You can buy Litecoin through several crypto exchanges, including Coinbase.

Litecoin Insights

Bulls say

Litecoin, as one of the first blockchains, is often referred to as “digital silver” in comparison to Bitcoin’s reputation as “digital gold.” Its vintage status and staying power have kept the project on the minds of crypto veterans.

In August 2023, Litecoin underwent its third "halving" event in its 12-year history. This halving, a pre-programmed reduction in the rewards given to miners for securing the network, effectively decreased the rate at which new Litecoins are created. This reduction in supply growth can potentially lead to an increase in the value of Litecoin, especially if demand remains constant or increases.

Bears say

Litecoin may struggle to differentiate itself as the market becomes saturated with alternatives that seek to provide similar or enhanced capabilities.

The adoption of Litecoin for daily use has not matched some expectations, possibly limiting its broader acceptance and impact.

Few crypto analysts see Litecoin as one of the most technologically promising blockchains.

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Market

Market stats

Market cap

$5.3B

Volume (24h)

$354.1M

Circulating supply

75.2M LTC

Typical hold time

43 days

Popularity

#20

All time high

$420.00

Market performance

Price change (1h)

-0.6%

Price change (1d)

+0.03%

Price change (1w)

+3.71%

Price change (2w)

+0.23%

Price change (1m)

+9.04%

Price change (1y)

-2.16%

Market benchmarks

Performance (1Y)

-2.87%

Vs. Market (1Y)

-49.5%

Vs. BTC (1Y)

-54.43%

Vs. ETH (1Y)

-37.11%

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Social

Some highlights about Litecoin on social media

2,729 unique individuals are talking about Litecoin and it is ranked #68 in most mentions and activity from collected posts. In the last 24 hours, across all social media platforms, Litecoin has an average sentiment score of 3.5 out of 5. Finally, Litecoin is becoming more newsworthy, with 5 news articles published about Litecoin. This is a 50% increase in news volume compared to yesterday.

On Twitter, people are mostly neutral about Litecoin. There were 32.21% of tweets with bullish sentiment compared to 4.19% of tweets with a bearish sentiment about Litecoin. 63.6% of tweets were neutral about Litecoin. These sentiments are based on 1099 tweets.

On Reddit, Litecoin was mentioned in 167 Reddit posts and there were 287 comments about Litecoin. On average, there were more upvotes compared to downvotes on Reddit posts and more upvotes compared to downvotes on Reddit comments.

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Overview

Contributors

2,729 people

Posts

978 posts

Dominance

0.17%

Volume rank

#68

Average Sentiment

3.5 out of 5

News Articles

5

Twitter

Reddit

Posts

167

Comments

287

Post Score

477

Comment Score

511

Coinbase Bytes

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Litecoin is on the rise this week.

The price of Litecoin has decreased by 0.60% in the last hour and increased by 0.03% in the past 24 hours. Litecoin’s price has also risen by 3.71% in the past week. The current price is $71.00 per LTC with a 24-hour trading volume of $354.07M. Currently, Litecoin is valued at 83.10% below its all time high of $420.00. This all-time high was the highest price paid for Litecoin since its launch.

The current circulating supply of Litecoin is 75,171,037.061 LTC which means that Litecoin has as total market cap of 75,171,037.061.

FAQ

What is the current price of Litecoin?

We update our Litecoin to USD currency in real-time. Get the live price of Litecoin on Coinbase.

What is the market cap of Litecoin?

The current market cap of Litecoin is $5.34B. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Litecoin?

The all-time high of Litecoin is $420.00. This all-time high is highest price paid for Litecoin since it was launched.

What is the 24 hour trading volume of Litecoin?

Over the last 24 hours, the trading volume of Litecoin is $354.07M.

What other assets are similar to Litecoin?

Assets that have a similar market cap to Litecoin include Polygon, Wrapped Bitcoin, Toncoin, and many others. To see a full list, see our comparable market cap assets.

How many Litecoin are there?

The current circulating supply of Litecoin is 75 million.

What is the typical holding time of Litecoin?

The median time that Coinbase customers hold Litecoin before selling it or sending it to another account or address is 43 days.

What is the relative popularity of Litecoin?

Litecoin ranks 13 among tradable assets on Coinbase. Popularity is currently based on relative market cap.

What is the current trading activity of Litecoin?

Currently, 98% of Coinbase users are buying Litecoin. In other words, 98% of Coinbase customers have increased their net position in Litecoin over the past 24 hours through trading.

Can I buy Litecoin on Coinbase?

Yes, Litecoin is currently available on Coinbase’s centralized exchange. For more detailed instructions, check out our helpful how to buy Litecoin guide.