Litecoin seems to have fallen off the radar of a lot of crypto faithful of late. And it makes sense. A lot of new altcoins have shown up recently that have put the gains of Litecoin (LTC) to shame. See Solana for starters. But this Litecoin price prediction could be a reason that changes.
Litecoin is one of the OCs (original cryptocurrencies). It was launched back in 2011 as a source code fork of the Bitcoin core client. As such, it quickly earned a reputation as being the silver to Bitcoin’s gold. And even though it hasn’t nearly kept up with Bitcoin in terms of value, it does bring some notable benefits to the table.
For starters, the Litecoin network processes blocks on the blockchain every 2.5 minutes. This as opposed to the 10 minutes it takes for Bitcoin blocks to be processed. Naturally, this allows transaction confirmations to be processed much faster for Litecoin. This was established through an effort to contest the high barrier of entry for crypto miners. Even back when Litecoin was launched, crypto mining was largely done by general-purpose computing on graphics processing units. This weeded out the cheaper CPUs that once dealt with mining operations.
In turn, every-day miners were pushed out of the game. That is until Litecoin came along. In a way, Litecoin re-democratized crypto mining. While the bourgeoisie could mine their Bitcoin, the proletariat had access to Litecoin. The other big difference between these two coins is the supply limit. While Bitcoin has a supply limit of 21 million, Litecoin has a supply limit of 84 million. To date, roughly 19 million Bitcoin are in circulation. And nearly 67 million Litecoin are in circulation.
Litecoin Price Prediction: Better for the Long Haul
Beyond the mining, processing time and supply, Litecoin and Bitcoin are very similar. So anyone that’s a fan of Bitcoin should (in theory) be just as bullish on Litecoin. For this reason alone our Litecoin price prediction looks promising. As Bitcoin’s value…
