#LitecoinUpdate

Litecoin(LTC)

Market Cap: $6.65 billion

7-Day Change: -1.98%

Price News: Litecoin traded at $87.54 as of 9:13 a.m. ET. Its yearly high was $146.61 on Dec. 5, 2024.

Litecoin: Launched in 2011 by former Google engineer Charlie Lee, litecoin is often referred to as “digital silver” to bitcoin’s “digital gold.” Built on bitcoin’s source code, litecoin offers faster block times at 2.5 minutes per block compared to bitcoin’s 10 minutes. Like bitcoin, litecoin uses a proof-of-work consensus and undergoes halving events. It’s worth mentioning that LTC has a capped supply of 84 million coins. Currently, there are 76.0 million LTC in circulation.

LTC is up 1,936% since its launch in April 2013.

Pros:

Faster transactions than bitcoin.

Long-standing credibility and network stability.

Cons:

Limited innovation compared to newer blockchains.

Faces stiff competition from faster networks.