Litecoin And Bitcoincash Could Be Vastly Undervalued On Exchanges - Here is why in two sections... Discuss...
Section 1: Why Litecoin Could Be Vastly Undervalued on Exchanges
Litecoin, the digital asset created by Charlie Lee in 2011, is one of the oldest and most well-known cryptocurrencies in the market. Despite its advantages over Bitcoin, such as faster transaction speeds and low fees, Litecoin’s average price on major exchanges has been around $85 to $100 between January 1st, 2023 and May 1st, 2023, while Bitcoin’s average price has been around $28,000 during the same period.
Taking a look at Litecoin’s undervaluation on exchanges is probably down the lack of investor and user awareness and understanding of its unique technology and it's many recent tweaks with security, software and infrastucture implementation. Litecoin's Mimblewimble protocol, which enhances user privacy by combining users’ transactions, is one such advancement that makes Litecoin stand out from its peers. Similarly, its use of the Scrypt consensus algorithm, which is less susceptible to mining centralization, proves its technical superiority over other cryptocurrencies... Baffled as to the reasons of lower than Bitcoin useage? Yup...
In any case it seems like the Litecoin community has been actively working to improve its infrastructure, making it more secure and efficient. These improvements make Litecoin an extremely attractive option for everyday transactions... Despite these improvements, the undervaluation on Exhange's in my opinion, and many investors, of Litecoin continues... Quite odd!
Another opinionated possible reason is Litecoin’s correlation with Bitcoin, due to its close association with Bitcoin in its early days. This factor may lead to poeple misjudging Litecoin as just another copy of Bitcoin. However, Litecoin has its own unique identity and technical advancements that differentiate it from Bitcoin... It's a Fork in its own right... Aaand don't you forget it!
Basing the valuation on these few factors, experts believe that Litecoin's true potential real value will far exceed its current average price. In May 2023, Litecoin’s speculated estimated price could have been around $300 per coin, almost double its current average price... If the economic turmoil had not happened over the last three years. Experts predict that the implementation of upcoming upgrades, including the Flare Network integration, will drive demand and help achieve its true potential value... This is largely based on better economic factors.
Section 2: Why Bitcoincash Could Be Vastly Undervalued on Exchanges
Bitcoincash, the result of a hard fork from the original Bitcoin in 2017, was created to address the scalability issues of its parent cryptocurrency. Since then, Bitcoincash has implemented several key upgrades, including the Schnorr signature algorithm and SegWit implementation, to enhance its security and transactional speed.
Held back indeed... The average price of Bitcoincash on major exchanges has fluttered around $120 between January 1st, 2023, and May 1st, 2023... and startling how close to Litecoins' valuation - this is considering a few years ago the two tokens had been separated by much greater distances... Bitcoin being at least 2/3 more.
One of the possible reasons for Bitcoincash’s undervaluation is again its association with Bitcoin, and a few minor security issues which may have led to negative perceptions. However it is without doubt Bitcoincash has its unique technical advancements, such as its superior transactional speed, which gives an added advantage over other top cryptocurrencies... It churns out more blocks via the Mines also... Yes it is also still mineable.
Bitcoincash is also available for trading on major cryptocurrency exchanges, boosting its accessibility and promoting business and public adoption rates. This availability has led to an increased daily trading volume, but the coin’s value still remains greatly undervalued.
Experts believe that Bitcoincash’s true potential value remains unrealized, with a prospective speculated estimated price of around $2,000 per coin in May 2023... again if the economic crisis hadn't happened these last three years... Yup Biden... The implementation of Avalanche and other upgrades to enhance its functionality and accessibility are also predicted to drive significant demand in the future and help the asset reach its true potential.
For sure both Litecoin and Bitcoincash are highly undervalued cryptocurrencies in the market, despite their Blockchain and technological superiority to many of the other tokens and ecosystems.
These assets have more than a huge potential for growth... they should already be! Thus thereby providing an undervalued opportunity for investors (but this is not financial advice) to make potential considerable profits. For myself I tend to keep an eye on these assets and always pop into my Litecoin and Bitcoincash trades when I have some spare fiat, nice and early (it's still early anyway) to reap the benefits of any of this not to harsh of a financial risk on potential growth in the future... Period!
