Litecoin, whereas being one of many extra profitable authentic altcoins, has typically been ignored by crypto traders over the previous couple of years. Nevertheless, in 2017, Litecoin was on prime of the world for a lot of causes. For one, it loved a snug place inside the checklist of the highest ten cryptocurrencies. For one more, the coin’s founder, Charlie Lee, was one of the crucial widespread crypto personalities on Twitter (NYSE: TWTR), in a position to transfer markets with a single tweet.
At its 2017 peak, Litecoin was buying and selling at US$360 every, a file held till Could 2021, when it topped out at US$413. Notably, Litecoin’s new recent excessive was not that rather more than its 2017 excessive. That is notable for those who examine it to different cash that ballooned far past their respective 2017 heights. Take Bitcoin, Ethereum, and Doge, for instance; the worst performing of those three was Ethereum, but nonetheless clocked in a recent 2021 file 169% above its 2017 excessive.
Litecoin is at the moment floating simply outdoors the checklist of the highest ten crypto tasks, at quantity fourteen. Whereas comfy within the prime twenty, it’s regularly jostling for place within the capitalisation hierarchy with the belongings on both facet of it, Chainlink and Solana.
Will Litecoin ever re-enter the highest ten?
I don’t suppose it’s going to re-enter the highest ten checklist. Though, I do recognize a number of traits of the coin; It has a low-ish circulating provide, it has been round for a decade, and the Litecoin Basis has initiated some thrilling tasks (e.g. Litecoin/Visa playing cards that simply transfers Litecoin to money at a degree of sale)
Nevertheless, its worth proposition is rather less attractive than different tasks. As such, Litecoin doesn’t generate the identical media or public curiosity as its compatriots.
Barring the coin’s attachment to Elon Musk, Tesla (NASDAQ: TSLA), or one other meme, another occasions should happen for Litecoin to re-enter the highest ten. However, regardless of that, Litecoin ought to stay solidly within the prime twenty.
How will the highest ten checklist look by the tip of 2021?
Earlier than the tip of the yr, traders will re-learn that blockchain networks aren’t appropriate to displace each expertise. On this respect, I believe it’s protected to say that the terribly named Web Pc will fade into oblivion. Its use case is as foolish as VeChain’s and BitDegree’s.
I believe Ethereum-like networks would be the subsequent large factor within the crypto area. Ethereum community charges are extreme and several other alternate options to the sluggish-legacy community are making their presence identified. As such, I count on Solana to maneuver up the hierarchy and Cardano to strengthen its place in opposition to Dogecoin and Ripple.