Litecoin has not had the best of runs as of late. Despite major technological advancements, the LTC value continues to hover around the same mark. Luckily, the community is not giving up by any means. There is a strong sentiment of how this is only the beginning for Litecoin. Not every cryptocurrency is destined to shoot up in value by 300% overnight. Things will come together for Litecoin eventually, by the look of things.
What Is Next For The Litecoin Ecosystem?
It is quite remarkable how the activation of SegWit has done little for the LTC price. Granted, the price per Litecoin went up to about US$25 after hovering around the US$5 mark for some time. Many people expected this to be a run toward finally gaining ground on Bitcoin. At one point, LTC was trading at 0.022 BTC, but that price point was abandoned pretty quickly. Ever since Litecoin is back to being worth about 1.25% of Bitcoin’s value.
Things get even more interesting when looking at the overall trading volume. Litecoin is still in the top 5 every single day, yet the price isn’t budging all that much. A very unusual turn of events in the world of alternative cryptocurrencies. One would expect the good news of Litecoin to elevate the currency to a higher market cap, but alas, that is not happening right now. In fact, Litecoin is in direct competition with Ethereum Classic for market cap right now.
Looking at the Litecoin community, there is still a lot of positive momentum. A lot of people remain quite confident the value of LTC will continue to go up over the coming months. Litecoin has the technology Bitcoin has been trying to get for so long now, yet still lacks. Segregated Witness is a great piece of coding that addresses a malleability issue and provides more room for network transactions. Litecoin also has lower fees and faster confirmation times compared to Bitcoin right now. On paper, it makes for a better choice, yet the markets have a funny way of responding to such changes.
One thing working in Litecoin’s favor is how there is relative price stability. So much even that some could argue it is getting a bit boring to look at charts. Then again, one never knows what the future may hold for Litecoin. Things are looking quite interesting, all things considered. There is absolutely no reason to think Litecoin is “dead” or anything along those lines.
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