Litecoin News

Is Litecoin Truly Silver To Bitcoin’s Gold?

Following Bitcoin’s introduction in 2009, a slew of other cryptocurrencies emerged, including Namecoin, Ixcoin, Tenebrix, and Solidcoin. However, the majority of them disappeared into thin air in no time.

Litecoin (LTC), on the other hand, is one of the few currencies that has managed to survive. In reality, “the silver to Bitcoin’s gold” is about to enter its tenth year in orbit.

Unusual Growth

Litecoin, like any other “newcomer” in the market, struggled to gain momentum in its early years. After staying below 10 million for more than five years following its establishment, the total number of addresses increased five-fold between 2018 and 21.

The profitability of Litecoin has also been growing over time. More than 70% of HOLDers were now “in the money,” as shown in the graphic provided by ITB. The remaining 30%, on the other hand, were either losing money or barely breaking even. These figures appear to be reasonable given the present situation of the market.

In summary, the market’s rising tide has raised Litecoin‘s boat more frequently than not during the last ten years, and vice versa.

Only Stumbling Block

Even though the currency has done well on the aforementioned fronts, some members of the community think that the developing aspect has been neglected since its start. In consequence, the currency has always been surrounded by continuous insults about non-utility and duplication. So, are such designations appropriate?

Protocols that are somewhat “ancient” require time to evolve and adapt to any changing ecology. Litecoin is now in need of some storage space. SegWit on Litecoin (LTC), like its initial cross-chain swap or any other advancement, took time to become a reality. 

Mimblewimble, smart contracts, and NFTs are all now fully operational. Considering the upcoming developments, it wouldn’t be incorrect to say that Litecoin is maturing like excellent wine.

If the growth pattern continues to be consistent in the near future, LTC will be able to break free from the constraints of the larger market trend and surprise its HOLDers by launching independent rallies.

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