Saturday, June 10, 2023

Key Reason to Invest in Litecoin


Looking for an alternative crypto network with high upside, trading at a significant discount to its peak? Litecoin may fit the bill nicely.

When deciding which tokens to invest in, cryptocurrency investors are increasingly considering a number of variables. Indeed, investing in a variety of assets as part of a well-diversified portfolio is favored in order to increase risk-adjusted returns. However, selecting the best possible investments from a group is a more difficult task.

Among the key factors crypto investors want to consider are:

  • Is a given cryptocurrency stable?
  • Does the cryptocurrency in question serve as a store of value?
  • What is the usefulness of a certain cryptocurrency or crypto network?
  • And, in comparison to its counterparts, how efficient is this cryptocurrency?

As a result, Litecoin (CRYPTO: LTC) might be an excellent investment right now. Litecoin has been a mainstay for many crypto portfolios. This is due to its rising popularity as the world’s 14th largest cryptocurrency by market value.

Let’s look at why Litecoin is gaining popularity now.

1. Four Times Faster than Bitcoin

One of the main motivations for the existence of cryptocurrencies is to allow for the low-cost and quick movement of money. In this case, the greater the utility for the end-user, the faster a crypto network can execute transactions (and the lower the transaction fees).

This crypto network receives gold stars in the case of Litecoin.

Litecoin, while not the quickest digital currency among the mega-cap cryptocurrency networks, is nevertheless a viable alternative for individuals wishing to send large amounts of money. This cryptocurrency network has shown to be four times quicker than Bitcoin in processing transactions (BTC -1.76 percent).

The Litecoin network is predicted to take 2.5 minutes to generate a block, compared to 10 minutes for Bitcoin. This is a significant distinction. In fact, this change is likely the most important technological difference between the original and the new version, aside from the encryption techniques used.

Given the delays experienced by some of the major cryptocurrency networks during busy hours, smaller, more flexible networks like Litecoin are expected to receive more interest. Those that use the Litecoin network for transfers will also benefit from the network’s minimal costs. For those looking to get the most out of this network, Litecoin is a more practical and affordable alternative. This is a significant element to consider for those considering to invest in Litecoin.

2. Adaption Drives Market Cap

Given the causes that have contributed to Litecoin’s surge to fame in the crypto industry, it’s unexpected that the value of LTC coins has lately skyrocketed. Litecoin coins have nearly doubled in value since the beginning of the year, while nearly halving from their peak in May. As a result, cryptocurrency investors searching for tokens that are both huge and stable might choose Litecoin.

As of September 2021, they anticipate 3,070 merchants to accept Litecoin as a means of payment. That’s a significant sum. Indeed, Litecoin’s quick growth makes it one of the top choices for crypto investors looking for a cryptocurrency with real-world applications.

As a result, the announcement that Walmart will accept Litecoin as a form of payment sent the price of LTC on a wild trip in September. Some investors were willing to accept this announcement at face value.

The widespread use of Litecoin has been beneficial to Litecoin investors thus far. However, this news turned out to be a hoax, and the price of Litecoin returned to its previous value.

This event, however, has highlighted Litecoin’s existing merchant network as a compelling incentive to hold this cryptocurrency. The Litecoin network continues to be one of the most rapidly developing and generally recognized by businesses worldwide. If this pattern continues, Litecoin’s value will only rise in the long run. At least, that’s what the proponents of Litecoin believe.

3. Litecoin’s Chances Improve with upgrades

The crypto world‘s drive to develop is still one to watch. Developers on various networks are frantically trying to add value to their networks in whatever way they can. Developers are now focusing on increasing transaction speeds, cutting prices, and becoming more sustainable (both ecologically and technologically).

On these fronts, Litecoin is clearly making strides.

The Litecoin Foundation introduced the “OmniLite,” a decentralized token generation tool. They built the OmniLite as a layered protocol on top of the Litecoin blockchain that takes use of the cryptocurrency’s high security and cheap costs.

It will be possible to create stable currencies based on the Litecoin blockchain using OmniLite. Smaller networks have picked up the slack (and market share) in this arena due to various saturation difficulties with main cryptocurrency networks such as Bitcoin and Ethereum. As a result of this introduction, people believe that that developers would be more inclined to use Litecoin’s blockchain, benefiting from reduced fees and faster processing times to create a layered economy.


For cryptocurrency investors prepared to look outside the box, Litecoin remains an intriguing possibility. Sure, Bitcoin and Ethereum are likely to remain primary assets for most cryptocurrency investors. Adding currencies from other blockchains with proven (and rising) usefulness is, on the other hand, never a terrible idea.

Investing in Litecoin, like other cryptocurrencies, entails certain risk. This cryptocurrency still has to compete with a host of other blockchains that are constantly evolving and improving. It will be interesting to see if Litecoin can go beyond following the trends and genuinely set the pace in this area.

However, Litecoin’s worth as a cost-effective network with low fees and significant merchant adoption should attract cryptocurrency fans to investigate the asset further. This is definitely an option I’m -keeping an eye on right now.

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Ivan Cruz
Ivan Cruz
Ivan Cruz is a writer for Cryptoconstellation. He has his Masters in Applied Research in Economics & Business. Ivan has been trading crypto for the past 7 years himself and feels it is his duty to bring you all the latest news.

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