Open interest on Litecoin futures hit a record $584 million, a signal that institutional investors like Bitwise and Grayscale Investments are interested in the altcoin.
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.
Could block reward halvings scheduled for the coming year prove beneficial for the valuations of these four cryptocurrencies?36131
XRP’s fall from grace saw the asset briefly drop to the number five spot by market cap.24371
Bitcoin price remains in a strong uptrend and this presents a rosy outlook for BTC and many altcoins.85328
Bitcoin’s surge to $23,800 triggered strong rallies in large-cap altcoins like Litecoin and Dogecoin.24464
Bitcoin and most major altcoins could consolidate for a few days before starting the next big move.64737
Ether hits two-and-a-half-year highs and follows Bitcoin to reach significant psychological levels this week.25086
Bitcoin’s explosive gains are strongly reflected by the number of days it has closed above $16,320.22112
The embattled spin-off of Bitcoin shows little signs of life prior to its hard fork as Bitcoin vastly outstrips its performance.18487
Bitcoin is facing selling at the $14,000 mark and this has resulted in several cryptocurrencies dropping below their support levels.35399
News of PayPal’s support for crypto assets has triggered a rally in the markets, with Bitcoin trading above $13,000 for the first time since July.11058
The long-awaited “flippening” of fiat at PayPal will begin next year, as Bitcoin price action offers almost 5% daily gains.40252
Traders are accumulating Bitcoin on dips and a break above $11,600 could resume the uptrend to $12,000.22526
Bitcoin and most major altcoins are sustaining above their immediate support levels, increasing the possibility that the uptrend will resume.15447
Bitcoin’s strength above the $11,500 multi-year resistance is also pulling many altcoin prices higher.20153