Litecoin was invented by Charlie Lee. Similar to Bitcoin, Litecoin uses blockchain technology; however, its transaction time and fees are shorter, making it an excellent solution for micropayments or point-of-sale payments.
Traders can keep an eye on Litecoin prices by watching MACD lines; when these cross above zero it could indicate a potential purchase signal, while moving below zero indicates possible sell signals.
What is Litecoin?
Litecoin is a peer-to-peer cryptocurrency with low transaction costs that enables instantaneous exchange of value at low transaction costs between peers. Litecoin can be found widely across crypto exchanges, Bitcoin ATMs and fintech apps like PayPal.
Litecoin was introduced into circulation on October 2011 by computer programmer Charlie Lee – an alumni of Massachusetts Institute of Technology and former Google employee – as an alternative cryptocurrency that differs from Bitcoin by providing faster transaction confirmation times, quicker block generation times and a different mining algorithm.
Traders utilize cryptocurrencies like Litecoin to speculate on price movements without owning physical coins or tokens. By opening a CMC Markets spread bet or CFD account, traders can trade Litecoin without taking ownership of its actual asset.
What is Litecoin’s Market Cap?
Litecoin’s market cap represents the value of all LTC coins currently circulating and can be calculated by multiplying each coin’s price with its trading volume.
Charlie Lee, a former Google engineer and creator of Litecoin, launched it as a competitor to Bitcoin in October 2011. Litecoin differs in several ways from Bitcoin including faster transaction times and an alternative mining algorithm.
Litecoin stands out from Bitcoin by employing Scrypt instead of the more complex SHA-256 to mine coins, enabling consumer-grade hardware mining operations. Furthermore, its maximum supply exceeds that of Bitcoin with an estimate of 84 Million coins available to miner.
What is Litecoin’s Volume?
Litecoin’s volume is an indicator of how many transactions were completed on its network during a specified time period, making it an important metric when analyzing price trends and making trading decisions.
Established by Charlie Lee in 2011, Litecoin is considered a “light version of Bitcoin.” Its key differences from BTC include faster transaction speed and smaller block size; Scrypt mining algorithm usage; as well as an 84 million LTC maximum supply limit.
Another factor influencing the price of Litecoin is its annual halving event, which reduces mining rewards by 50% and acts as an anti-inflationary force, potentially causing large fluctuations in LTC/USD pairs.
What is Litecoin’s Price Per Day?
The Litecoin price per day represents the current market price in US dollars of one Litecoin and is an extremely popular Forex trading instrument, representing how many USD are necessary to purchase one Litecoin.
Litecoin is an alternative cryptocurrency to Bitcoin that is often referred to as “silver”. Mining Litecoin is easier and it has a smaller maximum supply (84 million tokens). Furthermore, you can buy this currency with fiat currencies or other cryptocurrencies.
Litecoin, created by a former Google engineer, distinguishes itself from Bitcoin by employing a unique mining algorithm and processing transactions faster. As of July 2019, its market capitalization had reached USD5.5 billion.
What is Litecoin’s Price Per Week?
Litecoin’s price changes on an ongoing basis depend on supply and demand dynamics as well as real world events that may impact its price, such as cryptocurrency exchange hacks, regulatory decisions by governments or businesses, market developments or anything else which might alter cryptocurrency valuation.
Traders can utilize various technical indicators to understand Litecoin price action, including moving averages and relative strength index (RSI). Candlestick charts with various timeframes granularity – 5-minute candles, 1-hour candles or 4-hour candles can also help.
The price of Litecoin could remain steady during the first part of September and finish out around $92. In the long run, LTC could regain some ground and approach levels as high as $850.
What is Litecoin’s Price Per Month?
Supply and demand can have an effect on the price of Litecoin, while market forces determine its worth; as such, prices can either increase or decrease depending on investor sentiment.
Litecoin’s price can often be seen as being linked with that of Bitcoin; many investors consider Litecoin to be “the silver to Bitcoin’s gold”. However, these two currencies exist independently from each other and possess distinct characteristics of their own.
As cryptocurrency prices are extremely unpredictable, making accurate long-term price predictions is very challenging. If Litecoin’s popularity continues to expand over time, however, its price could increase considerably over time.
What is Litecoin’s Price Per Year?
Litecoin’s price is set by the market, like other currencies. Like all assets, its value may increase or decrease depending on news and events that affect it; and also by demand as an innovative currency offering fast and cheap transactions.
Recent surge in Litecoin price may be explained by greater adoption and partnerships – such as payments network Flexa adding support for LTC payments and UFC signing major sponsorship deals for this cryptocurrency. Furthermore, regulatory news as well as movement within crypto markets has all had an effect.
