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What Would it Take for Litecoin (LTC) to Overthrow EOS (EOS)?

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Litecoin
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Litecoin has been through a pretty rough period, as backed with the fact at after a long time of dealing as the fifth best currency in the market, Litecoin no longer holds the spot of the fifth-best currency on the global coin list. This is the case since EOS managed to overthrow Litecoin a couple of weeks ago when its market cap went over the market cap of LTC. Although all EOS holders went on going crazy about this case, faithful LTC holders are wondering what it would take for Litecoin to overthrow EOS and take back its old spot on the list as the fifth-best crypto in the market? So, let’s see what could LTC possibly do to get back on the road of old fame.

Litecoin: The Sixth-best Currency

For many crypto enthusiasts “sixth-best currency” just doesn’t sound right, and that is how many of them are wondering whether LTC is able to get back on the track of regaining its old glory as the fifth-best currency on the list.

Litecoin has been launched among some of the first ICOs ever and as such, this asset was made to address all the flaws contained in the first coin that has ever been released into the market, even before there has been a market – Bitcoin.

That means that Litecoin stands for one of the fastest platforms and the most functional digital assets to be circulating at the moment. Litecoin enables fast transactions with low fees and ultimate privacy, so it is no wonder that this coin managed to hold onto its spot as one of the top 5 cryptos for a long time.

However, as we already know, EOS found its way around LTC, sky-rocketing up the global coin ranking list and taking over its place. So, what is EOS offering that Litecoin isn’t?

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For starters, there are many investors buying EOS units out of the pure excitement, and all due to the fact that EOSIO is releasing its main net any time now as the date of the launching is set for May 11th.

In that spirit, the team behind EOS has released Dawn 4.0, while working on further improvements on the network that will be officially released with all planned updates in only a couple of days from the date of this writing.

That is how EOS is getting more on its popularity while attracting new users and investors with inter-blockchain communication and further development of their network.

So, even though EOS is currently being traded at the price of around 17$ with the all-time high of around 21$ per one unit, while Litecoin is valued at around 159$ at this moment, EOS has a higher trading volume with greater market capitalization of over 14 billion dollars, whereas LTC has a market cap of over 8 billion dollars.

That means that Litecoin would have to go pass 14.7 billion dollars of market capitalization while starting from its current value of 8.9 billion dollars, which means that LTC, in simple math, needs over 5.6 billion dollars in order to get back to its old spot while being ranked as the fifth-best currency in accordance with the global coin ranking list.

Is Litecoin Taking Steps Towards Earning Those 5.6 Billion Dollars?

In a way, we could conclude that the team behind LTC is indeed working on getting over the market cap of 14.7 billion dollars, which would take the coin back to its old spot. However, that means that LTC should work harder than ever in case it is in the general interest of their team to have their currency ranked among the top 5 cryptos.

In the spirit of further progress and development, Litecoin has started a campaign, called grassroots Pay With Litecoin, which should take LTC towards mass adoption of even more massive scales.

With this campaign, Litecoin Foundation is calling out to all businesses that would like to participate in the campaign to message them so they could establish cooperation. The initial cooperation between businesses and Litecoin would mean that the participants would have LTC listed as one of the payment methods for the participants’ products and services, which should take LTC to the next level of exposure and adoption.

This way, it is pretty certain that Litecoin could get closer to those 5.6 billion dollars that made it lose its spot on the global coin ranking list.

However, given the fact that EOS has risen for 200% in the last 30 days, while LTC had only collected 41% of gains during that period of time, EOS won’t make an easy competitor in the market, especially now when the official main net is being launched in only a couple of days.

In addition to this fact, EOS is currently being traded in the green despite the market trend, while Litecoin is going down against the dollar following the atmosphere in the crypto community where the majority of currencies is dropping for more than 48 hours.

To conclude the story, Litecoin could get back to its old fame and take back the spot number 5; however, their grassroots campaign would have to be massively accepted with a radically appealing strategy to draw in as many participants as possible.

EOS won’t quit its newly taken spot that easily, that is for sure.

How is Litecoin doing at the Current Moment?

After the latest change in the market, even though LTC has been doing great for an almost entire last week, we can now see Litecoin dropping against the dollar, all in the spirit of the latest market trend.

Following the latest change in the market, Litecoin has dropped for 5.48% against the dollar while trading in the red.

LTC is also dropping against Bitcoin for -3.06%, which means that BTC is doing slightly better at the moment when compared to Litecoin.

Following the most recent change in the market, LTC can be purchased at the price of 159.70$ per one unit, which is still far from its all-time high of 366$ per one LTC coin.

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

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Altcoins

DGB Price Prediction For 2018 and Beyond

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DGB price prediction
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With the crypto market being constantly bearish throughout this year, a lot of investors are having second thoughts about buying additional coins. While some large cryptocurrencies like Bitcoin or Ethereum can be considered safe investments, smaller coins like Digibyte (DGB) often receive a lot of doubt. This is why the DGB price prediction is necessary so that the investors can know what to expect.

DGB Price Prediction

DGB has had its ups and downs throughout this year, and at some point, it even went up by 70%. However, the constant bear market affected it just as much as numerous other cryptos. This has brought its value down to its current $0.025378 per coin. Some optimistic predictions from earlier dates saw the coin reaching as high a price as $9.20 by the year’s end. However, as we approach the date, it seems less and less likely that this DGB price prediction will come true.

The coin is generally seen as a profitable investment. As it is always the case with cryptocurrencies, they should be bought when their prices are down, so that a profit could be made when they spike up once more. Digibyte is no different, but it should be noted that investing in this coin means having patience. DGB is not among the coins that will make you rich overnight, and instead, it should be seen as a long-term investment.

Even though 2018 has been as…

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Altcoins

Why ZCash (ZEC) Is Heading to $10k

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Back in mid-May, the Winklevoss Twins made the headlines for embracing ZCash (ZEC) as one of its major digital assets on their groundbreaking Gemini exchange. When the announcement was made, ZEC rallied in the market by showing a 45% increment in value. The coin made it to $357 in a matter of hours.

Further assessing the currently available digital assets on the Gemini platform, we find that the exchange currently has USD pairings for only Bitcoin (BTC), Ethereum and ZEC. There is also additional pairings of ETH/BTC, ZEC/BTC and ZEC/ETH with plans to onboard Litecoin in the coming days.

Another thing to note is that the exchange also provides custodial services for institutional investors thus giving ZEC the much-needed exposure to the firms on Wall Street. Custodial services provide a guarantee that all digital assets on the platform are stored by a licensed entity thus extinguishing any cybersecurity concerns. For an entity to be licensed in New York for custodial services, the proper due diligence and research have been done.

Another thing that makes the Gemini exchange attractive and appealing to institutional investors, is that all USD deposits are insured by the FDIC. The latter entity is the Federal Deposit Insurance Corporation that provides insurance for USD deposits in American banks. This means that once again, the funds of individual and institutional investors are safe and insured, further making…

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Altcoins

Ripple XRP Mega Breakout: What’s Next?

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Ripple XRP mega breakout
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The Ripple XRP mega breakout that we were calling for happened and happened much quicker than anyone expected. As we said yesterday:

Nonetheless, IF, Ripple is capable of going ‘topside’ of the .38 figure at any point in the days/weeks ahead, such development, should it occur, would likely trigger its next advance into the .42 – .47 zone, representing a 30-40% move from present levels. On the flip-side, the .25 – .26 area should offer short-term potential support.

XRP is now sitting at .51704  as we write this article this morning, representing gains of 61% since we alerted our readers and our Global Elite email newsletter members.

Ripple XRP Mega Breakout

The Ripple XRP mega breakout is significant because it’s the first time XRP has been above its 50-day moving average since May. Right now, the RSI is approaching 80, so we are in overbought territory and we expect the price to consolidate around the .42 to .47 level before resuming its uptrend.

While some are looking at this as an opportunity to short XRP, we are not of that camp. While some can book some profits and use a trailing stop, any integration of XRP with xRapid has the ability to create a tremendous move in XRP. As Travis Kling said this week on the Off the Chain podcast with Anthony Pompliano, XRP could be the quickest five-bagger investors…

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