- Charlie Lee talks about the future of Litecoin and the future of the Litecoin Lightning Network.
- Litecoin LTC lacks momentum as other altcoins surge against the USD.
Litecoin News Today – Litecoin is one of the top cryptocurrencies in the market. After it was created, it was referred to as the silver to Bitcoin’s gold. However, over the last few years, the token has suffered the bearish storm against the USD. Everyone expected that the price of Litecoin LTC would increase significantly after the Litecoin halving date passed. Unfortunately, this didn’t happen during the Litecoin halving in 2019.
During an interview, Charlie Lee talked about the future of Litecoin amid the competition. He said that the strongest competition for Litecoin is fiat. In his words;
“We’re all in it together, to be a better form of money than the US dollar or any other fiat currencies out there. And I think, cryptocurrency is a better form of money, but it’s going to take some time before we win that war (…) Consider Litecoin and Bitcoin today, the important thing is that you’re able to transfer value. We fought a central party and no one can censor crypto transactions today. And that’s like the key thing, right? You can send like money over the Litecoin network without requiring a central party to help you do that.”
Lee talked about the competition within the cryptocurrency market and how altcoins struggle to rank above each other. According to him, ranking on CoinMarketCap isn’t the only issue they should be focused on. The most important thing for the survival of the cryptocurrency industry is for people to use cryptocurrencies across the globe. He said this is the only way cryptocurrencies can reach their full potential. He said that what is important to him is Litecoin’s use as a store of value and medium of exchange.
When asked where he thinks Litecoin LTC will be in the next five years, he said that there is going to be a dramatic change and growth in the Litecoin Lightning Network. Things like the Mimblewimble extension block and atomic swap will change the game for the Litecoin Lightning Network.
Litecoin News Today – Litecoin LTC Underperformes Amid the Altcoin Rally
This morning, most altcoins started gaining against Bitcoin BTC with Cardano ADA taking the lead with a 16% surge. Meanwhile, Litecoin LTC was trading at $59.63. This means that it is up by 2.41% against the USD but down by 1.25% against the price of Bitcoin. This kind of price action isn’t encouraging. The trading volume over a 24 hour period is $4,035,597,164 and the market capitalization is $3,813,916,656.