Litecoin is a peer-to-peer cryptocurrency rooted in Blockchain. It functions in the same way as Ethereum and Bitcoin. It allows instant and free of cost payment to all over the world. It also supports huge transactions without the need to alter the software in any manner. This is achieved through lightning, frequent block generation and Segregated Witness ( SegWit ).
Litecoin is considered to be complementary to Bitcoin, as the changes in the former usually benefit the network of the latter
It cemented its position as one of the leading altcoin presences for the traders and investors of the world. It touched the billion dollar capitalization mark in November 2013.
It also became the first cryptocurrency to adopt SegWit ( Segregated Witness ) system. It separates transaction signatures to raise blockchain size limit
One of the most preferred attributes of the Litecoin is its high degree of usability. It puts the Cryptocurrency ahead of the rest of the bunch in the market share.
As Bitcoin is slowly losing its reach across the internet, the fight for the highest share of the market begins to get competitive. The frontrunners of the same are Litecoin, Monero, and Dash. With people starting to get increasingly worried about the high charges of Bitcoin, they are eagerly looking forward to Litecoin.
As the 5th largest cryptocurrency according to market capitalization, Litecoin has seen quick progress.
Litecoin, partnered with GLORY and went on to become the official cryptocurrency of GLORY Kickboxing league.
There has been a major upsurge in cryptocurrency trading in recent times after the breakdown on Monday. However, the recovery has been strong and was led by Litecoin. This coin managed a rally in which it hit monthly highs. LTC continues to be on the short-term buy signal, but the remaining coins also remained in a similar bearish state on performance.
The downward trend is still within the picture according to the current situation. However, the recent sparks of success could trigger an upsurge. The leaders of the present move, though, cut a mixed picture. For instance, EOS, which registered solid performance in the recent weeks, showed an even better trade in the recent weeks to climb above its previous highest range. Meanwhile, BTC and XRP continue their poor run along with ETH. These coins are attempting to improve the situation, but the thrust is subject to doubts.
Litecoin appears to be on the right track in terms of the ascending channel. The coin hit the resistance level of $52. The hopes are high, as the possibility of lifting itself above the $52 mark means it could climb to the top.