Litecoin (LTC) was introduced in October 2011 by computer scientist Charlie Lee, and has since become one of the most highly-rated and important cryptocurrencies.

Technically, Litecoin is similar to Bitcoin since it is based on the Bitcoin protocol but it uses a different hashing algorithm. As it was also specifically designed to reduce the block confirmation timing, it is around four times faster than Bitcoin.

The price of LTC has soared since its introduction and is one of the top 10 cryptocurrencies. The supply of Litecoin has been fixed with a maximum of 84 million Litecoins in circulation.

Litecoin speed is around 50 transactions per second compared with Bitcoin’s speed of around five transactions per second. While Bitcoin is generally considered to be the gold of the crypto world, Litecoin is frequently regarded as the silver.

Litecoin value is often affected by the same factors as Bitcoin. Factors such as changes in the demand for LTC or amendments to rules and regulations relating to crypto in everyday transactions will impact on the value. Litecoin is also influenced by future developments, upgrades and technological improvements of Litecoin protocols and the technology behind it, expectations regarding the next Litecoin halving, speculative trading, merchant adoption of Litecoin payments and the movement in Bitcoin price. Previous fluctuations show that the value of LTC value has a tendency to track BTC price movements.

The USD is the official currency of the USA which has the world’s strongest economy. It is one of the most in-demand reserve currencies as well as being the most popular and actively traded currency, with a high level of trading volume and volatility.

The value of the USD is driven by numerous factors. For example, changes in the inflation rate and interest rates always affect the USD exchange rate, consequently impacting on the ETH/USD exchange rate.

It is important to closely track the monetary policy and follow the economic news release calendar for factors that will affect the value of USD such as all-important export/import levels. The political situation with other countries can also impact on the value of the USD.

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