Litecoin current price is $86.11.

$86.11

-0.48% (24H)
Low $85.03
High $87.61
  • Market Cap $6.42 B
  • Volume $395.99 M
  • ATH $410.26
  • ATH(% Change) -79.01%
  • ATH Date 2021-05-10

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Date Price Volume MarketCap

Litecoin current price is $86.11 with a marketcap of $6.42 B. Its price is -0.48% down in last 24 hours.

About Litecoin

Litecoin stands as a unique cryptocurrency with a faster payment confirmation schedule and a distinct cryptographic algorithm, setting it apart in the digital currency world like Bitcoin. 

Here’s more!

What Is Litecoin?

Litecoin, a derivative of Bitcoin's codebase, distinguishes itself with its faster block times and a larger supply, positioning it as the "silver" counterpart to Bitcoin's "gold." Beyond its merits, Litecoin serves as a valuable pseudo-testnet for Bitcoin, implementing and refining new protocol changes before their integration into the broader network. 

This collaborative role underscores Litecoin's significance in cryptocurrency development and its dynamic relationship with Bitcoin's evolving ecosystem.

Who Founded Litecoin?

Litecoin, founded by Charlie Lee, reflects the early passion of a cryptocurrency pioneer. Known as "Chocobo," Lee has played a significant role in the industry, starting as an early Bitcoin miner and later contributing as a software engineer at Google. From 2015 to 2017, he served as the director of engineering at Coinbase.

Charlie Lee, deeply involved in what is Litecoin, continues to strongly support cryptocurrencies. Currently serving as the managing director of the Litecoin Foundation, a non-profit organization closely aligned with the Litecoin Core Development team, Lee actively contributes to the growth of Litecoin

His journey demonstrates a dedicated commitment to the development and promotion of cryptocurrencies. The Litecoin Foundation's board of directors, including accomplished individuals like Xinxi Wang, Alan Austin, and Zing Yang, plays vital roles in guiding Litecoin's growth. 

Together, they collaborate to enhance the accessibility and significance of Litecoin in the dynamic world of cryptocurrencies.

How does Litecoin Work?

Litecoin users engage in exchanging LTC using the blockchain, utilizing public-key information linked to digital wallets. Interested individuals often seek Litecoin price and news updates to stay informed. Unlike Bitcoin's proof-of-work consensus, where miners compete with specialized equipment, Litecoin employs the Scrypt algorithm, enabling mining with regular hardware. For those curious about how to mine Litecoin, it offers an accessible entry point.

What sets Litecoin apart is its quicker block confirmation time. While Bitcoin takes approximately nine minutes, Litecoin accomplishes this in just two and a half minutes, making it a topic of interest in Litecoin news and discussions about cryptocurrency prices.

Moreover, Litecoin acts as a testing ground for Bitcoin improvements. For instance, it successfully integrated the Lightning Network, a second-layer technology for Bitcoin, allowing micropayment channels ahead of Bitcoin's implementation. This continuous evolution and integration of innovative features position Litecoin as an accessible and forward-thinking cryptocurrency, drawing attention from both enthusiasts and those looking to understand the Litecoin price dimension.

What Is Litecoin Mining?

Litecoin mining serves as the process of validating transactions within the Litecoin blockchain. This involves closing one block, initiating the next, and earning a reward in the form of Litecoin. The key to this operation lies in the proof-of-work consensus mechanism, where computational power is harnessed to solve a cryptographic hash that safeguards the integrity of each block. 

This hash, essentially an alphanumeric code, is generated by encrypting the information contained in a block. Miners receive Litecoin rewards when they successfully create a hash equal to or less than the network target.

Similar to Bitcoin, Litecoin can be mined using conventional computers equipped with central and graphics processing units. However, the landscape becomes more nuanced when considering profitability and competitiveness. While mining on regular computers is an option, it may not yield as much as investing in application-specific integrated circuits (ASICs) and participating in a mining pool. 

In the context of how to mine Litecoin, this collaborative approach enhances the chances of successfully mining blocks and sharing the rewards among pool members. Essentially, mining Litecoin involves a dynamic interplay of computational power, cryptographic puzzles, and the pursuit of digital rewards within the blockchain ecosystem

How To Mine Litecoin?

The initiation of Litecoin mining necessitates an investment in both hardware mining equipment and the requisite software to commence the mining process. The existing state of the Litecoin mining network poses a significant challenge for an individual miner operating with a single ASIC, computer, or laptop. 

The competition is formidable, with large mining farms and pools exerting dominance, creating a daunting scenario for solo miners. Consider the significant contrast in mining rates: the Litecoin Miner L7 boasts an impressive 9.5 gigahashes per second (GH/s), while a standard CPU operates in the range of thousands of hashes per second (KH/s). 

To emphasize the scale and broaden your perspective on Litecoin mining, a Litecoin mining pool can effortlessly generate trillions of hashes per second. For instance, on December 12, 2023, ViaBTC achieved a remarkable hash rate of 281.42 terahashes per second (TH/s) while mining Litecoin. Stay updated on Litecoin price and Litecoin news to gauge the ongoing developments in the cryptocurrency mining scale [Insert Any Link].

To embark on your Litecoin mining journey, start by acquiring one or more ASIC miners and ensuring a stable internet connection. Then, choose a mining pool to join and follow the instructions provided on the pool's website to set up your miner. Your mining activities should align with the guidelines outlined for your machine, software, and selected pool.

Moreover, a critical step involves selecting a wallet to safeguard your private keys. Popular choices include Exodus, Electrum, or Mycelium. This ensures the secure storage of your mined Litecoin, preparing it for future use or transactions within the cryptocurrency world.

What’s So Unique About Litecoin?

Litecoin emerged as a distinct cryptocurrency, stemming from the Bitcoin protocol but diverging in key aspects like hashing algorithm, hard cap, and block transaction times. With a swift 2.5-minute block time and minimal transaction fees, Litecoin facilitates micro-transactions and point-of-sale payments seamlessly.

The journey of Litecoin began with its open-source release on GitHub on October 7, 2011, followed by the live activation of the Litecoin Network on October 13, 2011. 

Since its inception, Litecoin has witnessed a remarkable surge in usage and merchant acceptance, consistently ranking among the top ten cryptocurrencies by market capitalization. This growth reflects the enduring impact and evolving role of Litecoin in the cryptocurrency landscape.

Litecoin Price Prediction 2024

In forecasting the Litecoin price for 2024, analysts anticipate a minimum value of $91.90. On the optimistic side, there is a potential for the Litecoin price prediction to reach a maximum value of $111.22. 

The average trading price for Litecoin throughout 2024 is expected to hover around $95.20. These projections provide a glimpse into the potential price range for Litecoin in the coming year, offering insights for investors and enthusiasts.

Litecoin Price Prediction 2025

Looking for 2025 LTC, the forecast and technical analysis suggest that the price of Litecoin may experience a minimum value of $130.56. On the other end of the spectrum, there is a potential for the LTC price to reach a maximum value of $159.80. 

The average value of Litecoin's price throughout 2025 is expected to settle around $134.37. These projections offer valuable insights for investors and observers keen on understanding the potential trajectory of Litecoin in the upcoming year.

Litecoin Price 

Litecoin, with its 84 million tokens, commenced its journey with 150 pre-mined by the developers. The ingenious design included a 50-litecoin reward per block, halving every 840,000 blocks, with the last anticipated in 2142. Its price narrative unveils peaks above $250 in 2017 and 2021, soaring to $410 before sharply descending. 

May 2021 marked an all-time high at $412.96, followed by a substantial 50% decline in the subsequent six months.

Understanding Litecoin's USD price involves navigating a dynamic journey reflecting the erratic nature of the crypto market. Despite the fluctuations, it stands as a unique story, influenced by diverse factors that set it apart in the cryptocurrency race.

For those curious about mining Litecoin, it's akin to an exploration for hidden treasures. The process, intertwined with block rewards and halving events, actively shapes Litecoin's supply dynamics. As it progresses toward its final block in 2142, mining remains a pivotal force, contributing to the ecosystem's vitality.

Litecoin Price USD Live

The current live price of Litecoin stands at USD 69.27 with a 24-hour trading volume of USD 1.74M. The price has seen a 0.29% increase both in the last hour and since yesterday.

The live market cap for LTC is $0.69 USD, calculated by multiplying the current price by the circulating supply of 74.10M coins. LTC has a maximum supply of 84.00M LTC. 

As of now, Litecoin's market is active, showcasing slight fluctuations in its value over the short term. Keep track of the evolving market trends for timely decisions.

Difference Between Litecoin VS Bitcoin

Litecoin, as a derivative of Bitcoin, retained the foundational logic and architecture, remaining almost identical to Bitcoin in terms of use and design. However, it distinguished itself with a quicker transaction confirmation time and considerably lower costs—up to 50 times less, contingent on market conditions.

In understanding what is Litecoin, the allure of Litecoin lies in its speed and relatively modest fees, positioning it as an attractive option for payments and value transfers. Nonetheless, it's noteworthy that Litecoin has fewer miners than Bitcoin, which could potentially influence the overall security of its network

How To Buy Litecoin?

The journey into the world of cryptocurrency begins with the first step of signing up on a cryptocurrency exchange. Within the crypto market, there are three primary types of exchanges: significant exchanges, decentralized exchanges (DEX), and peer-to-peer (P2P) exchanges.

Prominent exchanges like Binance, Coinbase, and Kraken provide a platform to purchase cryptocurrencies using either fiat currency or other digital assets. Common payment methods such as PayPal or debit/credit cards are widely accepted. Choose one of these platforms, complete the sign-up process, and initiate your first Litecoin purchase.

When considering the Litecoin price, decentralized exchanges provide users with the ability to buy and trade digital tokens, though they may not be the most user-friendly option for acquiring Litecoin USD. Alternatively, P2P platforms offer users the opportunity to trade digital coins using local payment methods. An excellent P2P exchange supporting Litecoin is LocalCrypto.com.

These platforms typically support a limited range of coins. LocalCrypto.com, for instance, facilitates exchanges with users holding Litecoin, Dash, BTC, and Ethereum. Engage with other users who hold various cryptocurrencies like BCH, BTC, ETH, or XRP within this peer-to-peer exchange platform.

LTC, created to enhance Bitcoin, utilizes the Scrypt hashing algorithm for faster transaction speeds, processing 54 transactions per second. New blocks are formed approximately every 2.5 minutes on its blockchain.

Is Litecoin A Good Investment?

Thinking about diving into the world of crypto, perhaps eyeing Litecoin as a potential investment? Cryptocurrency values are like a volatile dance – swinging up with thrilling highs, but plummeting just as fast. Before you plunge in, recognize that your investment could soar, but it might also vanish quicker than you expect. 

One crucial point to keep in mind, especially when considering what is Litecoin, is the absence of safety nets in the crypto race. Unlike traditional investments, crypto-assets are largely unregulated. Imagine there's no financial safety cushion—neither the Financial Services Compensation Scheme (FSCS) nor the Financial Ombudsman Service (FOS) will come to your rescue if things go south. 

It's the wild west of investments, and you're on your own.

Furthermore, crypto-assets are like a puzzle wrapped in complexity. Understanding the risks associated with them can be challenging. Before taking the plunge, do your homework."If something seems too good to be true, it is likely to be untrue." Research is your best ally in navigating the complexities of crypto investments.

As the saying goes, don't put all your eggs in one basket, and considering Litecoin price prediction, the same principle applies to your money. It's tempting to go all-in on a promising investment, like Litecoin, but diversification is key. Spread your investments across different assets to reduce dependence on the success of a single one.

A sound rule of thumb is to limit high-risk investments, such as crypto-assets, to no more than 10% of your portfolio. This strategy helps mitigate the impact of potential losses and ensures a more balanced approach to your investment journey.

Litecoin Event News

Back in n 2017, Charlie Lee surprised the Litecoin community by selling all his Litecoin price holdings, valued at around $375.29 each. Amid accusations of market manipulation through his Twitter posts, Lee cited a conflict of interest for the sale.

In September 2021, Litecoin faced a fake press release about a partnership with Walmart, causing a 30% price surge. The excitement faded when it turned out to be a hoax.

Investors in Litecoin include Karnika Yashwant, Arbi Khodagholian's Block Ventures, and individual investor Zachary Snader, according to Crunchbase.

The privacy protocol Mimblewimble, aiming for anonymous crypto transactions, is expected to join Litecoin by the end of 2021.

Litecoin has seen forks like Junkcoin (JKC), Monacoin (MONA), Litecoin Cash (LCC), CloakCoin (CLOAK), and Einsteinium (EMC2). Charlie Lee labels any Litecoin fork as a scam.

Charlie Lee, still managing director of the Litecoin Foundation, continues to advocate for Litecoin and funds its development.

Frequently Asked Questions (FAQs):

How much is Litecoin worth?

As of live now, Litecoin is holding its ground at $69.9, with a bustling 24-hour trading volume hitting $336 million. It boasts a market cap of $5 billion, claiming a 0.48% stake in the market. In the last 24 hours, LTC experienced a modest 0.73% uptick in its price. Picture this: 73.66 million LTC coins are circulating out of a maximum supply of 84 million LTC. 

To discuss more, the annual supply inflation rate sits at 3.56%, churning out a cool 2.53 million LTC in the past year. It's like a financial snapshot, capturing Litecoin's moves in the bustling world of cryptocurrencies

What is the lowest point ever reached by Litecoin (LTC)?

Litecoin (LTC) reached its lowest price of $1.15 on January 14, 2015, almost 9 years ago. Presently, the current price reflects an impressive 5,914.56% increase from the all-time low. 

What is the highest point ever reached by Litecoin (LTC)?

Litecoin (LTC) achieved its peak price of $410.26 on May 10, 2021, slightly over 2 years ago. In comparison, the current price reflects an 83.2% decrease from the all-time high.

What’s the Litecoin Price Prediction for 2030?

The forecast for 2030, Litecoin is predicted to reach a minimum price of $770.33, a maximum of $917.34, and an average of $797.23, based on technical analysis and past price data trends.

Is Mining Litecoin Profitable?

Profitability in Litecoin mining is achievable with the right configuration and by participating in a pool that effectively divides rewards

Is Litecoin Network Secured?

Litecoin, a blockchain-based cryptocurrency, is fortified with robust cryptographic defenses, ensuring a high level of security against potential breaches. Using the Proof of Work (PoW) consensus algorithm, Litecoin ensures quick and error-free transaction confirmations, similar to Bitcoin and other cryptocurrencies. 

The mining network's collective strength safeguards against double-spending and various attacks, maintaining a consistent 100% network uptime

Where I can buy Litecoin?

Litecoin is available for purchase on various cryptocurrency exchanges, you can purchase on your preferences.