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Litecoin (LTC) price may be as high as $600 by the end of the year

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Many predictions have been made lately around the price that Litecoin (LTC) may have by the end of the year, and as it seems, the crypto may hit the mark of 600 USD, a fact that results particularly interesting considering the current performance of the coin.

Litecoin figures in the charts as the 7th largest cryptocurrency with a market capitalization of $3,656,267,429, and a price of $62.9 at the time of press, according to Coinmarketcap. So if it were to happen that the price reaches that value by the end of the year, we would be speaking of an increase of 10 times the current price, or in other words, a 967 percent of the increase.

With relation to the above asseveration, many have been questioning whether or not the coin may get to that level, and also, what are the main reasons to believe that is a possible thing. Let’s see all the details on this.

Litecoin (LTC) description

Litecoin was created and developed by Charlie Lee back in 2011; it was launched via an open source client on Github. The LTC token is a decentralized peer-to-peer cryptocurrency that works under the license MIT/X11. Litecoin was created as a fork of Bitcoin, so in essence, it was meant to have the same characteristics of the leader of the sector, but improving some of the issues that Bitcoin has in its ledger.

In this sense, Litecoin’s ledger functions with a Proof-of-work timestamp scheme, and also has the hash function working with the algorithm Scrypt, instead of the one that Bitcoin uses, which is the SHA-256. An average operation takes 2.5 seconds to be completed and is equipped with a token reward of 25 LTC (until 2019 according to an estimate).

In general terms, one could say that Litecoin is one of the strongest, if not the most, out of all of the altcoins that exist already. In fact, if we compare the crypto with Bitcoin (BTC), we would find the LTC platform works way faster and with one of the cheapest prices per transaction as well.

In addition to this, Litecoin provides great usability, which means the platform utilizes blockchain processes such as smart contract liftings and others. But not only that, the currency also has the capability of being used as regular currency such as fiat money, which means users can buy lots of goods and services by using Litecoin.

Facts on the Litecoin price prediction

  • Bitcoin influence on the coin: We all know that Bitcoin has a great influence on each and every crypto in the market, and of course, this is something of which Litecoin is not exempt. However, this is not the only way Litecoin will receive an impulse from BTC, truth be told, with the present conditions of the market Bitcoin will likely deploy strategies in order to stabilize its system, and this might have as a consequence the increase of the transactions occurring in the network, so as the system clogs, many users will migrate to reliable platforms such as the one that LTC has.
  • Coinbase endorsement: Coinbase represents a huge endorsement for Litecoin, being LTC one of the privileged cryptos enlisted in the platform. Coinbase receives millions of transactions every day, and with more than 100,000 new users that each day engage with Coinbase, we can be sure that this will be a great piece in the puzzle in the long run.
  • Media attention: Litecoin has been receiving a lot of attention on social media during the last months. This, in the beginning, was actually not a positive thing as many users were Tweeting their complaints regarding project failures in the past, such as the association with Litecoin’s LitePay. However, the hard time seems to be gone for good, and now a bunch of artists, entrepreneurs, businessmen, doctors, and even athletes are supporting the crypto and endorsing the coin through its Twitter accounts.
  • Bitcoin resemblance: As we said before Litecoin is related to Bitcoin because of the fork in which it was created, so in many aspects, both platforms provide very much the same. In fact, many users are starting to notice the resemblance between both cryptocurrencies and are starting to migrate to Litecoin as it represents a cheaper and faster option.

Conclusion

Litecoin has actually all of the features and tools to succeed in the goal of reaching never-before-seen heights. In fact, the coin has already done this in 2013 and 2017, so we can be sure that is actually a possible thing to happen. Additionally, Charlie Lee, CEO of the company, is hungry for success, and proof of that is the Tweets that he publishes stating that Litecoin is coming for Bitcoin. So stay tuned, this might be the Litecoin’s year.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

5 Reasons Why BAT is A Good Investment

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In their search for the next great investment opportunity, people often tend to run into Basic Attention Token (BAT). A lot of investors have developed a significant interest in the coin, and are wondering if things are truly as good as they seem.

With so many scams and fake coins out there, as well as bad investments that seem good at first, it is a good idea to be skeptical. However, in the case of BAT, many agree that the coin is an excellent investment that should not be missed or overlooked. So, today, we will discuss why this is, and why you should add BAT to your investment portfolio.

1. The project’s goal

BAT has a goal to solve a problem that all of us are already very familiar with, and that is the issue of online ads. For a lot of people, ads are annoying, often irrelevant, and they tend to pop up in all the wrong moments. No to mention that they are intrusive, advertisers steal or buy your private data in order to process it and target you with more appropriate ads, and more.

Most people choose to deal with this by installing ad block extensions. However, what if there is a better way to go around it?

This is where BAT comes in. The project uses its technology to solve this problem by blocking ads unless users decide to interact with them by…

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How and when Electroneum (ETN) mass adoption will catch fire

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Before we talk about how Electroneum is thriving towards mass adoption, let’s take on some basics. What is the meaning of “mass adoption” and what cryptocurrencies could really achieve it? The answer to these two questions will ultimately determine the destiny of the cryptoverse.

Sooner or later some tokens will become useful (and used by) a lot of people in the real world. That will create demand for those tokens and that demand will bring its value up. It will be the point at which the crypto market becomes mature, one that answers to real economic forces (such as supply and demand) instead of being a toy for speculators as it still is today.

So let’s start at the beginning. Mass adoption means that, given any kind of technology, product or commodity, at least seven out of ten people know what it and what they can do with it. This definition doesn’t take into account if they actually use it, only if they know about it. Think about Facebook, for instance. Not everybody you know has an active account there.

But chances are almost everybody you know understands what it is and that they could start using it anytime they wanted (if they’re not using it already) at a rate higher than 70%. Maybe a more explicit example is coffee. The percentage of coffee drinkers in the US is about 83% which is enough to ensure it’s mass-adopted. And everybody…

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Stellar Lumens and XLM: All you need to know

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Stellar Lumens is a blockchain project that includes the XLM token. It’s meant to connect banks, payments, and people. How? By making money transfers around the world quicker, safer, more efficient, available to people that are usually outside the banking system at a cost so low that it’s almost free.

Millions of people are using Stellar already. It’s considered to be the closest project to Ripple (hence, its main competitor). But Stellar has found more use cases than Ripple so far and a strategic alliance with IBM. Those two things will end up determining Stellar’s success in the long run.

Stellar’s leadership, staff, and the team have raised a few doubts in the past. This project was founded by Jed McCaleb who also founded Ripple and eDonkey. The network’s governance and centralization could improve regarding transparency as well.

That being said, Stellar’s adoption and development have grown exponentially in a short time. It’s become one of the leaders regarding blockchain structure. And it’s been in the crypto verse’s spotlight for several reasons.

With all those successes, Stellar Lumens could do a better job when it comes to decentralized apps. In third-generation blockchain projects, smart contracts and dApps are crucial. This could allow competitors like Tron, Ripple or EOS to gain advantages over Stellar.

But Stellar’s versatility is such that it might disrupt many different markets. As a payment tool, it can affect the virtual (and the real-world)…

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