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Litecoin (LTC) don't get as much media attention as other blockchain networks like Bitcoin (BTC) or Ethereum (ETH) as did before. What does this mean? Is the cryptocurrency still being used? And has it been growing both as a blockchain network and value?
Back in 2018 you would here just as much buzz around Litecoin as Bitcoin and Ethereum. These days in 2021 myself has herd very little about the network. Unless I actually researched the crypto coin, I herd nothing about it in media outlets I tend to look at. Being invested into the crypto project myself I questioned: What is going on with Litecoin (LTC)?
What is Litecoin (LTC)?
According to the crypto project on Litecoin.org, LTC is a peer-to-peer cryptocurrency that enables instant and near zero cost payments to anyone in the world. The open sourced blockchain serves as a global payment network fully decentralized having no central authority.
Furthermore, Litecoin is a fork to Bitcoin created by Charlie Lee. Mr. Lee being a former Google engineer launched this cryptocurrency in 2011 as "Lite Version of Bitcoin" with intentions of becoming the silver to Bitcoin (New Gold).
Litecoin transactions are growing and currently has 75% transactions seen by Bitcoin.
(Img Source: @MASTERBTCLTC on Twitter.com)
As you can see by this chart from June 23rd, 2021 LTC has had a nice jump in the amount of transactions done using the cryptocurrency and blockchain network. There are some predictions that LTC transactions will surpass BTC transactions sometime this year.
So, is Litecoin (LTC) overlooked?
Myself thinks Litecoin (LTC) is still a good investment. It has a good fundamentals and has been around for 10 years now. That does not mean you should invest but, do some research as it could be a good long term investment for your portfolio as well.
Again, myself believes as Bitcoin grows and gains in the market, Litecoin will benefit from that alone. Adding to the increase of transactions, fundamentals, and history thus far, I am satisfied in investing more into the cryptocurrency. Especially with many new crypto investors join the trading market, these individuals will likely invest in those with good fundamentals and proven history of growth.
Thank you for reading and please sare your thoughts below i the comment section. Let me and other readers know what you think about Litecoin (LTC) and if you have in your investment portfolio, or if planning on adding it to you portfolio.
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