Litecoin, whereas being one of many extra profitable unique altcoins, has typically been ignored by crypto buyers over the previous couple of years. Nonetheless, in 2017, Litecoin was on high of the world for a lot of causes. For one, it loved a cushty place throughout the listing of the highest ten cryptocurrencies. For one more, the coin’s founder, Charlie Lee, was one of the vital common crypto personalities on Twitter (NYSE: TWTR), capable of transfer markets with a single tweet.
At its 2017 top, Litecoin was buying and selling at US$360 every, a report held till Might 2021, when it topped out at US$413. Notably, Litecoin’s new contemporary excessive was not that rather more than its 2017 excessive. That is notable if you happen to evaluate it to different cash that ballooned far past their respective 2017 heights. Take Bitcoin, Ethereum, and Doge, for instance; the worst performing of those three was Ethereum, but nonetheless clocked in a contemporary 2021 report 169% above its 2017 excessive.
Litecoin is at present floating simply outdoors the listing of the highest ten crypto initiatives, at quantity fourteen. Whereas comfy within the high twenty, it’s incessantly jostling for place within the capitalisation hierarchy with the property on both aspect of it, Chainlink and Solana.
Will Litecoin ever re-enter the highest ten?
I don’t assume it should re-enter the highest ten listing. Though, I do recognize a number of traits of the coin; It has a low-ish circulating provide, it has been round for a decade, and the Litecoin Basis has initiated some thrilling initiatives (e.g. Litecoin/Visa playing cards that simply transfers Litecoin to money at some extent of sale)
Nonetheless, its worth proposition is rather less attractive than different initiatives. As such, Litecoin doesn’t generate the identical media or public curiosity as its compatriots.
Barring the coin’s attachment to Elon Musk, Tesla (NASDAQ: TSLA), or one other meme, another occasions should happen for Litecoin to re-enter the highest ten. However, regardless of that, Litecoin ought to stay solidly within the high twenty.
How will the highest ten listing look by the tip of 2021?
Earlier than the tip of the yr, buyers will re-learn that blockchain networks should not appropriate to displace each know-how. On this respect, I feel it’s protected to say that the terribly named Web Laptop will fade into oblivion. Its use case is as foolish as VeChain’s and BitDegree’s.
I believe Ethereum-like networks would be the subsequent huge factor within the crypto area. Ethereum community charges are extreme and a number of other alternate options to the sluggish-legacy community are making their presence recognized. As such, I count on Solana to maneuver up the hierarchy and Cardano to strengthen its place in opposition to Dogecoin and Ripple.