Litecoin (LTC) is one digital currency with a very bright future, and it has been in the industry for quite some time now. But even as it’s one of the oldest digital currencies in the market, its value has not met the expectations of many, and this has resulted in so much doubt and concern about whether the digital currency is undervalued or not.
Nevertheless, a lot of people still believe in the digital currency as well as its potential to rise again, and there are robust reasons to believe Litecoin (LTC) will exceed the 3 digit value pretty soon.
The Reasoning behind This Assumption
Litecoin was released on Github back in October 2011, and the technical aspects of the digital currency were designed to look like that of Bitcoin (BTC). Even when there are lots of similarities between them, LTC has come a very long way from its starting point, and it has one of the most important features in the industry in terms of speed and cost of transactions.
Although the value of Bitcoin (BTC) is far much higher than that of Litecoin (LTC), Bitcoin still has a lot of work to do when it comes to transaction fees and speed. This is a field that Litecoin has been able to dominate as its operations barely take 3 seconds at an incredibly low cost.
The Market Performance of Litecoin (LTC)
The market has been very bearish not only on LTC but other digital currencies as well. Over the past couple of weeks, the bears have been in charge of the market, causing a lot of digital currencies to lose a significant percentage of their values.
Nevertheless, once the market starts recovering, the huge adoption of Litecoin could take the value of the coin to the moon. Litecoin (LTC) is currently trading at $83.4 after an increase of 2 percent over the past twenty-four hours. With its edge over other digital currencies, as well as the developments and partnership around it, the digital currency could increase to four digits sooner than people expect.