{"id":19167,"date":"2022-06-07T12:51:07","date_gmt":"2022-06-07T12:51:07","guid":{"rendered":"http:\/\/egrowonline.com\/?p=19167"},"modified":"2022-06-07T12:51:07","modified_gmt":"2022-06-07T12:51:07","slug":"litecoins-tick-tock-to-2142-and-heres-what-investors-shouldnt-miss-out-on","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=19167","title":{"rendered":"Litecoin’s tick-tock to 2142 and here’s what investors shouldn’t miss out on"},"content":{"rendered":"


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Litecoin [LTC]<\/a> is known as silver to Bitcoin\u2019s gold for a reason. Since the former was built on the latter\u2019s code, both tokens share a similar mechanism of the proof-of-work (PoW) consensus and limited supply.<\/span><\/p>\n

But, here\u2019s the catch, Litecoin\u2019s supply is quadruple of Bitcoin\u2019s; set at 84 million LTC, it is soon coming to an end.<\/span><\/p>\n

Know this<\/h3>\n

Before Litecoin runs out of LTC, the token can be minted for approximately 120 years. Primarily, the token will take a vast amount of time before all the LTC is mined thanks to the current rate of minting and remaining supply.\u00a0<\/span><\/p>\n

Now, considering Litecoin\u2019s limited use cases, the quickly advancing web3 space, and the demand for web3 compliant options, Litecoin might not even make it till 2142.<\/span><\/p>\n

However, that is a thought of the future. What\u2019s more important at the moment is- if LTC can even recover the losses it witnessed over the last month; the answer to which is sadly not \u2018yes\u2019.<\/span><\/p>\n

The fluctuating price action, mixed with the recent crash has resulted in 10 straight weeks of red candles on the charts.<\/span><\/p>\n

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Litecoin price action <\/em> | Source: TradingView \u2013 AMBCrypto<\/a><\/p>\n<\/div>\n

While Bitcoin made an achievement on 6 June by not closing in red for 10 straight weeks, Litecoin didn\u2019t seem to be bothered by the king coin\u2019s movement. It closed in red for the tenth week.<\/span><\/p>\n

At press time, the token was trading at $61.26, down by about 6.11% over the last day. However, the token was trading 3.6% above the opening price of $63 at $66 on 6 June, which didn\u2019t do much for the token and was just another moody Monday.<\/span><\/p>\n

To add to the aforementioned information, LTC isn\u2019t really convincing when it comes to rallies. This is why the altcoin hasn\u2019t seen a new all-time high for more than a year now.<\/span><\/p>\n

This is also the reason why investors have been noting losses for nine straight weeks. Altogether, the 10-week-long streak of downfalls resulted in cumulative losses running up to 617 million LTC worth over $40.5 billion.<\/span><\/p>\n

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Litecoin investors in losses <\/em> | Source: Santiment \u2013 AMBCrypto<\/a><\/p>\n<\/div>\n

But, LTC does have the opportunity to increase its value, given the asset gradually is considerably undervalued right now. <\/span><\/p>\n

Although on the micro-scale, it may appear to be overvalued, the macro scale indicated that the asset still has significant room to grow.<\/span><\/p>\n

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Litecoin network value <\/em> | Source: Coinmetrics \u2013 AMBCrypto<\/a><\/p>\n<\/div><\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Litecoin [LTC] is known as silver to Bitcoin\u2019s gold for a reason. Since the former was built on the latter\u2019s code, both tokens share a similar mechanism of the proof-of-work (PoW) consensus and limited supply. But, here\u2019s the catch, Litecoin\u2019s supply is quadruple of Bitcoin\u2019s; set at 84 million LTC, it is soon coming to […]<\/p>\n","protected":false},"author":1,"featured_media":19168,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[43],"tags":[164,102,3495,1127,8802],"class_list":["post-19167","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-litecoin","tag-heres","tag-investors","tag-litecoins","tag-shouldnt","tag-ticktock"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/06\/cryptocurrency-gd0b17b194_1280-1000x600.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/19167","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=19167"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/19167\/revisions"}],"predecessor-version":[{"id":19169,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/19167\/revisions\/19169"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/19168"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19167"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19167"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19167"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}