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Litecoin vs Bitcoin: Could Bitcoin be outshined by Litecoin soon?

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Litecoin

When we talk about cryptocurrencies, it is impossible not to mention the leader in this matter, Bitcoin. Nonetheless, this number one position may be at risk due to a whopping increase in the price of Litecoin.

Although Litecoin is not as consolidated as Bitcoin, this crypto is actually on its way to the top of the list. Let’s recall that Litecoin was founded in 2011, only two years after the well-known Bitcoin was released, but despite this, it currently ranked as the fifth cryptocurrency in value.

During the last year Litecoin has increased its value in a remarkable number of 4119.82 percent, and if we compare that to Bitcoin, it appears as small with only 13.4 percent the last year.

One of the reasons why this cryptocurrency is emerging is because of its simplicity; users find it very practical and easy to use. In fact, the Winklevoss twins recently stated they are considering Litecoin as a new possible allied for a market exchange; and if everything works out well, they would be adding the cryptocurrency to their platform during this year.

At the very moment only Ethereum and Bitcoin are offered on the platform of the Winklevoss brothers, Gemini Exchange, but as one of them said: “…potential tokens for expansion are from the Satoshi Nakamoto family tree – bitcoin, Litecoin”.

Why Litecoin’s popularity?

As all the cryptocurrencies, Litecoin was designed to be decentralized and with the hope of being a faster and more simplified currency; and in this matter, Litecoin is achieving its goal.

The primary key is the time variable; while Bitcoin creates a block of information with data encrypted in about 10 minutes, Litecoin does it in 2 and half minutes; this represents an operation speed of four times faster.

Consequently transaction fees are much lower, and of course, the whole operation process is simpler. Furthermore, the benefits of this cryptocurrency are under the spotlight of multinational companies such as Starbucks and Amazon, who are actually thinking of adopting Litecoin on their sites this year.

Could Litecoin price topple bitcoin?

Litecoin showed a remarkable growth in last year when it passed from having a price of $4.05 to $175.26. On the other hand, Bitcoin has been struggling to stay above $9,000 after dipping below the crucial pricing marker on many occasions lately.

However, neither of them (Bitcoin or Litecoin) are exempt from falling upon the market pressures. Regarding this matter Charlie Lee, who is a former Google employee, stated the market, in general, is very volatile:

“I expect us to have a multi-year bear market like the one we just had where LTC dropped 90% in value ($48 to $4). So if you can’t handle LTC dropping to $20, don’t buy!”

He later explained that he wasn’t asseverating the market was going to drop, but he thinks this is something to be considered since the cryptocurrency market has proved to be a constantly changing one.

Why is the crypto market so volatile?

The uncertainty of crypto-market gets attributed to a lack of supervision, regulation, potential hacking and a sell-off of tokens from the Tokyo Whale.

Subsequently, a crackdown on the crypto-assets is expected for better and more consolidated monitoring, and international standard-setting as the G20 financial leaders reportedly are going to push for that in annual summit being held in Buenos Aires on March 20. And in case of regulations, all the cryptocurrencies probably will be affected (at least at some extent for a while) but as Bitcoin is the big brother of them all; it might get to bear the brunt of the traders and short sellers more.

We will be updating our subscribers as soon as we know more. For the latest on LTC, sign up below!

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 own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of BTC Keychain via Flickr

Bitcoin

Wisebitcoin Launches Professional-Grade Crypto Exchange

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Infrastructure is developing rapidly in the cryptocurrency industry, but the recent launch of the Wisebitcoin cryptocurrency exchange is nonetheless significant in terms of the immediate value it provides to cryptocurrency users. That’s because the exchange has had a beta version available since 2018 while continuing further developments in stealth mode, and already serves over 1.2 million end users with $6+ billion in 24 hour trading volume at the time of its official launch.

In addition to the large user base and deep liquidity, Wisebitcoin also stands out by offering up to 100x leverage to margin traders, with the ability to open a long or short position in their futures market. In the current bullish environment, leverage is a key way that experienced traders increase their exposure and try to profit from volatility.

For example, if a user opened a long position on ETH on January 2nd at a price of $750, they could have greatly multiplied their profits with even a small amount of leverage such as 5x as ETH reached over $1,100 within 48 hours. A simple unleveraged position would have netted $350 in profit, but a 5x position would have netted $1,750 and a 100x leveraged position would have netted an incredible $35,000 in profits from an initial investment of just $750. 

Beyond leverage, Wisebitcoin additionally offers a simple and…

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Bitcoin

ISW Holdings Continues to Transition Cash Assets into Bitcoin with $20K Purchase Ahead of Mining Launch

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ISW Holdings, Inc. (OTC: ISWH) (“ISW Holdings” or the “Company”), a global brand management holdings company, is pleased to announce that it is in the process of converting $20,000 of the Company’s cash holdings into Bitcoin. The Company also announces that it will be regularly conducting similar transactions on a quarterly basis to convert a percentage of cash flows into Bitcoin.

Management expects this transaction to be completed this week. The Company began transitioning cash resources into Bitcoin with an initial transaction in March 2019 at approximately $4,000/Bitcoin.

“We believe in the future of Bitcoin and digital payment systems, and cash represents an unproductive asset given the degree of monetary expansion, stimulus, and debt dragging down traditional currency systems,” commented Alonzo Pierce, President, and Chairman of ISW Holdings. “We are also on schedule to launch mining operations through our Pod5 solution at the Bit5ive renewable energy project by the end of January.” 

The Company formed a joint venture partnership with Bit5ive, LLC, (“Bit5ive”) in May to build and deliver an elegant, powerful, and efficient data center pod design. The Proceso Pod5ive Datacenter is the result. Designed in partnership with Bit5ive, and geared primarily for the cryptocurrency mining industry, the Proceso Pod5ive Datacenter offers next-generation dynamic self-management functionality, plug-and-play operation, virtually non-existent maintenance needs, and an industry best-in-class 1.06 Power Usage Effectiveness score.

The Company’s first mining pod is set to…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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