Litecoin price is up today, mirroring a broader crypto market rebound ahead of this week's Fed rate decision.
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.
Bitcoin and most major altcoins are reeling under intense selling, and charts suggest that the market sell-off is not complete.6209
Markets continue to slump, giving advantage to the bears and hinting at a trend change to the downside.5097
Litecoin's price is down today, partly due to the "sell the news" sentiment following its Aug. 2 halving.8716
After the Aug. 11 Bitcoin ETF decision delay, BTC’s boring price action looks set to carry on through the weekend.5868
Bitcoin’s sharp recovery to $30,000 proves that bulls are buying BTC and altcoins at lower support levels.3761
Bitcoin’s failure to rebound off strong support may open further downside, as bears may be tempted to sell.4791
Bitcoin continues to range trade, and altcoin traders are starting to view BTC’s price consolidation as a positive sign for the rest of the crypto market.6556
Bitcoin is witnessing a strong battle between the bulls and the bears, with the sellers currently holding a slight edge.5804
Litecoin block rewards have now halved to 6.25 LTC as the halving clock is reset for another four years.9531
Bitcoin’s record low volatility is also a sign that the next price breakout will be volatile, but everyone is guessing which direction the price will go and how it will impact altcoins.4611
Bitcoin’s price action remains lackluster, but select altcoins are showing signs of breaking out of their respective resistance levels.11635
Bitcoin and several major altcoins are trading inside a range, indicating that a strong catalyst is needed to start the next trending move.5451
A multiyear review of Litecoin futures open interest reveals a unique trend that has significantly impacted the LTC price in the past.11814
Several Bitcoin price indicators suggest that BTC’s narrow trading range could end soon, resulting in a volatile price move in BTC and altcoins.7663