Litecoin cryptocurrency is one of the oldest cryptocurrencies in existence today. It was created in October 2011 by Charlie Lee and it quickly became one of the top cryptocurrencies to have in your wallet.
While Bitcoin is considered digital gold by many people, Litecoin is considered a digital currency. However, a question has arisen in this Bear Market, does the LTC token still have a future in the crypto sphere?
Investing in Litecoin in 2022? Is this a good idea?
At the time of writing this article, Litecoin is at 19th place by market capitalization in the cryptocurrency market. While in 2013, the LTC token is in the second position. The decline and loss of the top 3 is undoubtedly due to a set of new blockchains that are more interesting from a technological, security and scalability point of view and the Litecoin blockchain.
However, he still remains a market cap of more than 3.3 billion euros. So does Litecoin still have a real use in the crypto sphere?
Do we really need Litecoin?
Many opinions differ on this question, in fact, different developers believe that Litecoin (LTC) has become obsolete now that the Bitcoin cryptocurrency has evolved with Lightning Network.
However, other advocates of LTC believe it is still useful and serves as a test for different technologies and that its growing adoption across various payment and investment platforms should guarantee its survival in the coming years.
This argument for Litecoin is dead to me in 2017. It takes nature’s limit and doesn’t need to turn it into man-made technology. https://t.co/C4vic70AMp
— Stephen Chow (@chowcollection) May 25, 2022
Finally this is what he said Jay Milla, Director of the Litecoin Foundation : “The similarity between silver and gold makes a lot of sense when you look at the coins most used for payments. Bitcoin still has market share, but Litecoin is the second most traded digital currency for payments.
Source: The Blog
I am Ben Stock, a highly experienced news writer with several years of experience in the industry. I currently work for The News Dept as an author, where I specialize in market-related stories. My passion and expertise lies in providing readers with accurate and up-to-date information on the latest financial developments from around the world.