Litecoin (CRYPTO:LTC), whereas being one of the profitable unique altcoins, has usually been ignored by crypto buyers over the previous couple of years. Nonetheless, in 2017, Litecoin was on high of the world for a lot of causes. For one, it loved a snug place inside the listing of the top10 cryptocurrencies. For one more, the coin’s founder, Charlie Lee, was one of the fashionable crypto personalities on Twitter Inc (NYSE: TWTR), in a position to transfer markets with a single tweet.
At its 2017 top, Litecoin was buying and selling at US$360 every, a report held till Might 2021, when it topped out at US$413. Notably, Litecoin’s new contemporary excessive was not that rather more than its 2017 excessive. That is notable if you happen to evaluate it to different cash that ballooned far past their respective 2017 heights. Take Bitcoin (CRYPTO:BTC), Ethereum (CRYPTO:ETH), and Doge (CRYPTO DOGE), for instance; the worst performing of those three was Ethereum, but nonetheless clocked in a contemporary 2021 report 169% above its 2017 excessive.
Litecoin is at the moment floating simply outdoors the listing of the top10 crypto initiatives, at quantity fourteen. Whereas comfy within the high twenty, it’s continuously jostling for place within the capitalization hierarchy with the belongings on both facet of it, Chainlink and Solana.
Will Litecoin ever re-enter the highest 10?
I don’t suppose it’ll re-enter the top10 listing. 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 initiatives (e.g. Litecoin/Visa playing cards that simply transfers Litecoin to money at a degree of sale)
Nonetheless, its worth proposition is rather less horny than different initiatives. As such, Litecoin doesn’t generate the identical media or public curiosity as its compatriots.
Barring the coin’s attachment to Elon Musk, Tesla Inc (NASDAQ: TSLA), or one other meme, another occasions must happen for Litecoin to re-enter the highest ten. However, regardless of that, Litecoin ought to stay solidly within the high twenty.
How will the highest 10 listing look by the tip of 2021?
Earlier than the tip of the yr, buyers will re-learn that blockchain networks usually are not appropriate to displace each expertise. On this respect, I believe it’s protected to say that the terribly named Web Laptop will fade into oblivion. Its use case is as foolish as VeChain’s and BitDegree’s.
I think Ethereum-like networks would be the subsequent massive factor within the crypto house. Ethereum community charges are extreme and a number of other options to the sluggish-legacy community have been rising in recognition. I believe this development will proceed. As such, I count on Solana to maneuver up the hierarchy and Cardano to strengthen its place towards Dogecoin and Ripple.