During a typical trading day LTC/BTC can fluctuate by more than 3 per cent. Movement throughout the week may be broken with a significant upward price swing and the price has the potential to change by more than 10% during a 7 day period. During a 30-day period the price is known to potentially fluctuate by as much as 15%.
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.
Bitcoin is the world’s number one cryptocurrency. Due to the fact it is decentralised, transactions do not require a middleman. This means no banks or other authorities are involved. As well as being an alternative payment method and store of value, Bitcoin offers potentially-lucrative opportunities for traders.
Launched in 2009
The first decentralised cryptocurrency
Created by Satoshi Nakamoto
80% of all Bitcoins have already been mined
The maximum number of Bitcoins is 21 million
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