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This means we could see the price of Litecoin increase towards the latter half of 2023. Like Bitcoin, Litecoin undergoes the process of halvening (or ‘halving’). This is perhaps the greatest similarity that the asset shares with its one-time parent cryptocurrency. When Litecoin was first launched, this reward for mining new blocks was 50 LTC. Today, this reward has been slashed to 12.5 blocks, with the halving process having occurred three times so far. Two other things worth noting are that Litecoin is one of few coins that had a price spike between 2018 and 2021, midway through 2019.
That aside, Litecoin’s current trajectory suggests that it could rise by 3,738% by the year 2030. The launch of the role-playing game LiteBringer, which runs on the Litecoin blockchain network, has had a key effect on the altcoin’s price. Players can make in-game purchases using LTC, causing the number of network transactions to increase massively. When confidence in Bitcoin is high, it sparks renewed interest in related altcoins.
Also, if you are a crypto enthusiast who wants to invest in cryptocurrencies, we bring to you the latest updates on different tokens including Litecoin news today and more. Furthermore, you can find opinions and experts from industry giants that will help you determine your course of action from the investment point of view. Follow us now and get unlimited access to the latest news on Litecoin and updates over countless currencies. Also, check out our technical analysis of the currency as we look at the price changes as time moves on. Whether you’re new to cryptocurrency, or have been around for years, you can rest assured knowing we’ll have what you need regarding Litecoin.
So far, Litecoin has provided investors with an ROI of 2,340.43% — that’s an excellent rate of return. 2025 is the most likely year we will see Litecoin pass the $1,000 milestone based on our Litecoin price prediction forecast. On the 14th of October 2021, the number of active Litecoin wallets reached an all-time high of 573,302. Many of the ideas implemented on Litecoin are later added to Bitcoin, like the lightning network and Taproot. More energy-efficient than Bitcoin — mining LTC consumes less than half the energy of mining BTC.
Also, as the digital asset field keeps trading low, it provides a perfect opportunity to purchase today and generate profits later. It entered this field at approximately the same time as bitcoin, but it trailed behind as BTC grew, disappearing in the rivalry as new crypto entered the industry. However, litecoin price prediction shows this coin has to gain traction in the field.
2030 will end with Litecoin at $3,898.16, as per our Litecoin price prediction. By 2028, Litecoin will absorb users from Bitcoin Cash, Dash and other transactional cryptos to become the No. 1 choice for digital payments. Rallying to $3,000.00 by the end of 2028, Litecoin will be able to hit a record price of $3,176.90 at some point during the year. Our 2028 Litecoin price prediction also estimates a low of $2,368.22 and an average of $2,876.43. Halvenings happen after roughly 840,000 blocks are mined, something which happens approximately every four years. The next halving is likely to take place on the 6th of August 2023. Because halving affects the supply and demand of a cryptocurrency, it’s generally accepted that it has a positive effect on price.
On May 2, 2022, Litecoin reached 75% network consensus, which was a threshold required for activation. MimbleWimble extension blocks activated on Litecoin, LTC price movementLitecoin officially announced the activation of MimbleWimble Extension Blocks . After losing the crucial support of $100 the coin is falling continuously. The LTC coin is recovering with a slow uptrend over the daily and hourly graph.
London Loves Business bears no responsibility for any gains or losses. Litecoin was also the first cryptocurrency to test the lightning network before it arrived on the Bitcoin network. Once its use case was proven on Litecoin, Bitcoin was able to adopt it too. Marathon Digital Holdings Chairman and CEO Fred Thiel joins Yahoo Finance Live to discuss the intersection of bitcoin mining and renewable energy, along with recent crypto volatility. Most cryptocurrencies more than a decade old have failed and faded into obscurity.
Litecoin started its life worth about $3 per coin and eventually gained 140% of its value by 2020. At the end of 2021, LTC closed at $146.51, more than twice the value it holds in August 2022. But this can hardly be considered a downtick specific to litecoin, since the entire crypto market has fallen in 2022.
However, you must understand that this is a highly volatile currency. Therefore, you must conduct in-depth research before investing in this coin. If you’re ready to purchase and hold this digital currency for a long time, you could stand in a better position to generate huge profits from a minute investment. But note that the crypto space has lost over 50 per cent of its worth recently and Litecoin falls under those currencies declining in value. Cryptocurrencies typically are not sponsored by any single central institution in the same case as fiat coins or another government-sanctioned form of exchange. Government-related support can boost faith in the currency value among users, offering a significant currency collector & spender.
Significantly faster to use than Bitcoin — Litecoin confirms transactions every 2.5 minutes, while it takes Bitcoin up to 10 minutes. Aside from understanding Litecoin’s historical price movements, you also need to study the factors that impact its price. Utilising the two will help you make more informed Litecoin price predictions and invest https://www.tokenexus.com/ more wisely. Crypto asset investing is highly volatile and unregulated in some EU countries. Litecoin has a more vibrant past than other cryptocurrencies as it has been around far longer, which also means there’s much more to look at. The first thing you will notice is that its 2021 all-time high was just slightly higher than its 2018 high.
As we can see from the graph above Litecoin is a good example of this. Here are some key milestones to look out for over the next several years. While we are independent, we may receive compensation from our partners for featured placement of their products or services. If you are unsure you should get independent advice before you apply for any product or commit to any plan. The first is that there are 4 times as many Litecoin as there are Bitcoin. The second is that Litecoin is younger and less widely established or used. The highest price LTC has ever reached was $410.26 USD on May 10, 2021.
Once you register on the platform, ensure you select the Cash Payment options. This way, the platform will only reveal local merchants that receive cash payments for Litecoin. Alternatively, you can buy Litecoin with cash from a cryptocurrency ATM. The fourth point is about adding prospects for growth for your portfolio. However, while a lower financial reward might be less enticing for miners, Litecoin is still well embedded in the top 20 largest cryptocurrencies by market cap, so it’s not a small player. With the introduction of smart contracts in September 2021, it is safe to say that Litecoin does have a future. Smart contracts will enable Litecoin to catch up with the rest of the crypto market, however, its proof-of-work protocol could be an issue in the years to come.
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Bearing that figure in mind, investors will likely gain a lot more from Litecoin by investing in the long term. Litecoin is largely expected to appreciate over the next eight or so years until 2030, as shown by our LTC price prediction forecast. Furthermore, Litecoin must also fight to remain relevant in a crypto market that is now heavily focused on DeFi applications. While it is becoming better able at hosting such applications, Litecoin has an uphill battle in comparison to more technologically advanced platforms like Ethereum and the Binance Smart Chain.
Author: Annie Nova