- Research Projects a 31% Surge in Litecoin’s Market Base Between 2019 and 2025
Litecoin is commonly referred to as the silver to Bitcoin’s gold. Over the years, the Litecoin network has built a strong user base but it still hasn’t fulfilled its original purpose. The token is for the peer-to-peer network, it is cheaper than Bitcoin BTC and the token and transactions on the network cost almost zero. Also, Litecoin gives its users the power they need over their finances. The Litecoin network has made a lot of progress so far and recent research revealed that the network will record a 31% growth in user base in the next few years.
Can Litecoin Grow by 31% Between 2019 and 2025?
According to a paper by QYReports, the market size for Litecoin technology will grow by at least 31% in the next few years. The blanket survey which was conducted in Asia-Pacific, North America, Japan, and Latin America, was not just for Litecoin but it revealed that Litecoin technology is marked as one of the indicators for the progress in the future. The research was an insight into the market competition in the global space. It also examined the global supply chain and trading strategies.
Litecoin LTC has had a rough couple of years. During the 2017/2018 Bitcoin bull run, the price of Litecoin and all the other cryptocurrencies surged against the USD. Litecoin reached its all-time high. Following the surge, the cryptocurrency market took a hit and Litecoin fell as low as $23. Due to the anticipation of the Litecoin halving event, the price of the token increased by more than 400% within the last few months of 2018 and the first few months of 2019.
Litecoin (LTC) Price Today – LTC / USD
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As the price of Litecoin LTC started to rise, many investors bought the token to hold hoping that it will increase more before the Litecoin halving event. Unfortunately, according to our Litecoin news at the time, this didn’t happen. Litecoin lost momentum and started to move lower. At the time of writing, the price of the Litecoin LTC token was $58.42. This means that it is down by 2.42% against the USD and down by 0.68% against Bitcoin. A few months ago, the price of the token was as high as $100. Unfortunately, it could not hold itself above this level. The trading volume over a 24 hour period is $3,103,639,330 and the market capitalization is $3,720,664,949.
Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.