BTC and many altcoins are kicking up dust after the Federal Reserve chairman Jerome Powell discussed the possibility of smaller rate hikes in 2023, but is the momentum sustainable?
The Litecoin cryptocurrency is a fork of the Bitcoin codebase that was positioned as “a silver to Bitcoin’s gold.” It was created by former Google and Coinbase engineer Charlie Lee in 2011.
While similar to Bitcoin in terms of tech and monetary policy, even featuring its own periodic halving of its supply schedule, Litecoin features some core changes such as block times that are four times longer and a supply cap that is four times as large compared with BTC.
One key technical difference Litecoin has with Bitcoin is its mining algorithm, Scrypt, which makes it easier for users to generate hashes with commonly available hardware and participate in the mining process.
In June 2017, Charle Lee left his position at Coinbase to commit to Litecoin full time and is currently head of the Litecoin Foundation, which stewards and finances Litecoin ecosystem development.
DOGE, LTC, LINK and APE are showing signs of buying even as Bitcoin’s next directional move remains uncertain.18236
Bitcoin and most major altcoins are witnessing a relief rally but higher levels are likely to attract strong selling by the bears.10956
Litecoin diverged from the broader crypto market downtrend in the months leading up to its halving in August 2023.17509
The total crypto market cap has dropped under $800 billion, but data highlights a few reasons why some traders are bullish.6114
Bitcoin and select altcoins are struggling to rise above their immediate resistance levels, indicating that the bears remain in full control.10611
The recovery in BTC and altcoins fizzled out fast, suggesting that investors continue to maintain a risk-off stance to all cryptocurrencies.10418
Litecoin’s momentum indicators signal extremely oversold conditions, hinting at the formation of a potential market bottom.10082
The Litecoin blockchain has been up and running for over a decade with no downtime.2534
Crypto holders in China are protected by the law in case of theft, misappropriation or breach of a loan agreement despite the ban on crypto.3537
Litecoin’s MWEB upgrade, which makes transactions confidential, comes at a time when the majority of the crypto exchanges are implementing strict KYC and AML guidelines.5345
Litecoin may have recently activated its long-awaited privacy-based upgrade, but not without creating some regulatory compliance issues.5842
Crypto regulations in South Korea require exchanges to enforce strict KYC and AML guidelines and major crypto exchanges have delisted privacy coins in the past as well.8874
The two exchanges cited Korea's Act on the Reporting and Use of Specific Financial Transaction Information, a law that requires crypto exchanges to put in place KYC and AML systems.4634
Sentiment analysis running across a year’s worth of tweets has found that Ether is Twitter’s least favorite cryptocurrency of five studied, while Dogecoin received the most affection.13204