Check out CoinMarketCap Alexandria for the latest cryptocurrency news and educational deep dives. The MimbleWimble Extension Blocks (MWEB) upgrade was successfully activated on May 19, 2022. However, the upgrade puts Litecoin in the crosshairs of regulators who do not take kindly to privacy-capable cryptocurrencies. As we previously touched on, Litecoin was founded by Charlie Lee, an early cryptocurrency adopter and a name held in high regard in the cryptocurrency industry. To some, this looming centralization went against one of the original concepts behind the cryptocurrency, that it would remain decentralized. Polygon (MATIC) has climbed by 6%, fueled by a surge in large-scale transactions.
Latest Litecoin News
Litecoin is one of the few cryptocurrencies with a wide variety of fiat trading pairs, and can be exchanged for U.S. dollars (USD), Korean won (KRW), euros (EUR) and more when you buy Litecoin. Some of the most prominent names include Huobi Global, Binance, Coinbase Pro, OKEx and Kraken. When Litecoin listed on several markets in 2011, the Litecoin price hit $0.30. Then, from November to December 2013, it went on a massive bull run, with Litecoin price hitting a high of $44.73. However, the bear market and Mt. Gox hack caused Litecoin prices to crash in 2014, and prices consolidated within the $2 to $4 range for several years.
Does Litecoin Have a Future?
- Litecoin could be worthless or worth thousands depending on market conditions, investor sentiments, and demand.
- The costs are all but negligible currently, however, during peak traffic, Bitcoin transaction costs appear to rise quite dramatically.
- Litecoin’s next halving is projected to occur on July 30, 2027, and drop its block reward to 3.125 LTC.
- It was proposed as a solution to some of the bottlenecks and scalability issues with Bitcoin, most notably the number of transactions that could be processed within a given time frame.
Basically, PoW requires that one party proves to all the other participating parties in the network that a required amount of computational effort has been expended. Unlike Bitcoin, which uses the SHA-256 PoW hashing algorithm, Litecoin uses the less resource-intensive Scrypt hashing algorithm. If you would like to know where to buy Litecoin at the current rate, the top cryptocurrency exchanges for trading in Litecoin stock are currently FutureX Pro, Binance, DOEX, BYDFi, and Bybit. At the recent Keynote 2, BlockDAG unveiled its latest technological advancements and strategic plans, garnering significant investor interest.
Fireside Chat Summary: Alan Austin and Charlie Lee at WDMS
Whether the cryptocurrency has a future depends on whether it is maintained, remains relevant, and meets the needs of users and investors. As of May 2024, it was still being maintained by a community of developers with fixes and improvements. In 2024, Litecoin activated Runes (similar to non-fungible tokens), similar to the Runes available on the Bitcoin blockchain. While Polygon (MATIC) and Litecoin (LTC) deal with market fluctuations, BlockDAG’s $52.7 million presale underscores deep investor confidence. Its strategic marketing, global outreach, and innovative DAG-based PoW consensus mechanism place BlockDAG as a top competitor in the cryptocurrency market.
These currency charts use live mid-market rates, are easy to use, and are very reliable. Live tracking and notifications + flexible delivery and payment options. These percentages show how much the exchange rate has fluctuated over the last 30 and 90-day periods. These are the average exchange rates of these two currencies for the last 30 and 90 days. These are the lowest points the exchange rate has been at in the last 30 and 90-day periods. These are the highest points the exchange rate has been at in the last 30 and 90-day periods.
It is updated when needed and had a 24-hour trading volume of more than $312 million on May 2, 2024. Litecoin is one of the oldest cryptocurrencies, and while it’s difficult to say if any cryptocurrency has a future, Litecoin keeps getting older. The first miner to guess a hexadecimal value smaller than the target hash https://www.tokenexus.com/ set by the blockchain protocol wins a reward of 6.25 Litecoin. The reward is cut in half every four years—this is called a halving and occurs every 840,000 blocks (Bitcoin’s is every 240,000 blocks). Litecoin’s next halving is expected to happen sometime in mid-2027, and the reward will be reduced to 3.125 LTC.
In addition, Charlie Lee held the role of director of engineering at Coinbase between 2015 and 2017 before moving on to other ventures. Decentralized exchanges (DEX) may or may not require KYC procedures depending on the jurisdiction in which they operate. Litecoin price has continued to consolidate in a macro triangular pattern and is currently hovering around the apex. However, LTC price against the US dollar could continue in a midterm bearish outlook before the bulls take control. The notable surge in LTC whales has coincided with a significant spike in active addresses in the recent past. According to on-chain data provided by Santiment, Litecoin’s active addresses have increased from 3.13 million to 4.54 million between June 7 and June 15.
How Is the Litecoin Network Secured?
Litecoin could be worthless or worth thousands depending on market conditions, investor sentiments, and demand. The most significant difference between Litecoin and Bitcoin is its hashing function. As mentioned earlier, Bitcoin uses SHA-256, which is processed very quickly on graphics processing units and specialized machines. Apps like LitePay will let merchants accept payments from customers’ phones, so you’ll be able to pay for your shopping using crypto sooner than you think.