The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
The Daily Hodl
No Result
View All Result

Fertile Soil for the Epic Rise of Litecoin?

by Daily Hodl Staff
December 5, 2017
in Altcoins

All eyes are on Litecoin. Largely regarded as undervalued, Litecoin bests its rival Bitcoin in both speed and more affordable transaction fees. After the push for Bitcoin futures, which helped catapult the number one cryptocurrency toward $12,000, mass adoption by retail sellers like Amazon is the next logical step for cryptocurrencies. E-commerce platforms will aim to satisfy customers in two key respects: fast transaction speeds and low fees.

With a processing block time of 2.5 minutes versus 10 minutes for Bitcoin, Litecoin is positioned to capture future adoptions. But while Bitcoin continues to offer such huge returns for any online retailers and businesses that accept it as payment, the rise of Litecoin will still be predicated on the attractiveness of Bitcoin as the gold standard. The equation may change if and when miners flee Bitcoin because it is no longer economical.

This would slow processing times, as it did in recent months when Bitcoin’s transactions took several hours. The slow speeds triggered Bitcoin’s 29% dip in price on November 13th. This chain reaction of mining influence over the next phase of cryptocurrencies is still at play. As more investors pour fresh fiat into Bitcoin and altcoins, more confidence in the viability of digital cash will drive incentives for more businesses and retailers to begin adoption.

Litecoin has gained nearly 2000% in 2017 on a market cap just over $5 billion or only 2.6% of Bitcoin’s $191 billion. This is also the year that the number of unique Litecoin transactions has started to increase to roughly one-tenth of the number of Bitcoin transactions. Again, Litecoin’s current price does not reflect this ratio.

As crypto enthusiasts and mainstream adopters move past the news of Bitcoin futures, ease of use and feasibility will remain key drivers of Litecoin’s impressive price action. While Litecoin is well positioned to soar, whether or not it masters the field and becomes the dominant player, or even a more widely adopted coin, also depends on increasing competition from altcoins vying for the top spot.

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Industry Announcements

  • LandX Closes Private Round Securing Over $5 Million in Private Funding
    December 4, 2023
  • Chromia Confirms Mainnet Release in 2024
    December 4, 2023
  • CAGA Crypto – Decentralized Financial Movement Unveiled on MEXC and Bitget
    December 4, 2023
  • TMNG Tokens Successfully Listed on MEXC Crypto Exchange
    December 1, 2023
  • Sui Surpasses $150 Million in TVL, Showcasing Blistering DeFi Momentum
    November 30, 2023
  • Duelbits Announces Landmark Collaboration With Football Icon Luis Suárez
    November 29, 2023
  • BinaryX Launches AI Chat Game ‘AI Hero’ With Limited NFT Mints
    November 28, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$41,845.21
$41,845.21
2.69%
Ethereum
$2,232.22
$2,232.22
0.83%
Cardano
$0.405844
$0.405844
0.43%
XRP
$0.61897
$0.61897
1.53%
Dogecoin
$0.090218
$0.090218
4.28%

Spotlight

  • Bitcoin (BTC) About To Repeat 2020–2021 Rally to $60,000, According to Crypto Strategist
    November 27, 2023
  • ‘Decision Time’ for Ethereum Imminent, Says Crypto Analyst Benjamin Cowen – Here’s What He Means
    November 27, 2023
  • Trader Warns Chainlink (LINK) at Risk of Correction, Updates Outlook on Ethereum-Based Altcoin
    November 27, 2023
  • $524,000 Bitcoin Price Possible Over Next Four Years, According to On-Chain Analyst PlanB – Here’s Why
    November 27, 2023
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Altcoins • Futuremash • Financeflux •
Blockchain • Regulators • Scams •
HodlX • Press Releases

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise

© 2023 The Daily Hodl