But considering that long-term investors will stick to the currency, the average price at which LTC might trade by the end of the next five years is $580.84. If the market experiences a similar crash in the coming years, Litecoin’s price can wipe down greatly to $327.06. However, anxiety regarding the Crypto ban in China and new regulations persist among LTC users. Therefore, with major collaborations with financial institutions, Litecoin can soar up to $750.74 if the above set conditions are met. Further, if the network succeeds in lowering the block time, it can even move heads on with Bitcoin. Its current price range can attract many traders, as it is feasible when compared to Bitcoin in all possible aspects. Further, it is expected to undergo requisite corrections around $245. If it undergoes any supercycle in the second half of the year it is expected to quickly retest resistances above $350. However, for the rest of the year, the LTC price would remain heavily volatile. On the contrary, bears rule the market then the asset would reach $170.5. However, if bulls take over the control of the space then the asset would test resistance around $280. If the average rally continues then LTC price would end up trading within a range-bound scale and by the end of Q1, the price may reach $221.53. On a positive note, the 2022 trade might start on average price action around $150. The organization announced it on their official blog stating that users can freeze their holdings using LTC as collateral! This year, the network hit a milestone when Venmo, the second most famous US financial app launched Litecoin on its platform in May.Īlso read: Solana Price Prediction, Price boom to hit with a $100? LTC Price Prediction 2022 Lately last year, Litecoin also partnered with Cred, a prominent crypto borrow and lending platform. Some of the notable collaborations are with UFC Octagon, in 2018, Miami Dolphins(NFL, USA), and NordVPN. LTC has had multiple partnerships on board over the years, aiming for the expansion and utility of its digital currency. The Platform is more accessible to the people than Bitcoin, hence known as the “silver” of the crypto world where Bitcoin is referred to as “gold” of the crypto world. Litecoin was released via an open-source client on GitHub in the year 2011. The cryptocurrency was created based on the Bitcoin protocol, but it differs in terms of the hashing algorithm used, hard cap, block transaction times, and a few other factors. Litecoin is a peer-to-peer cryptocurrency developed by Charlie Lee, a former Google employee, in 2011. LTC is tradable on popular exchange platforms like Coinbase pro, Binance, Kraken, and many more. Outside the frame, Litecoin acts as a medium of exchange and is proving to be a stable and inexpensive asset! It makes micro-transactions possibly quick and has a block time of just 2.5 minutes! Note that Bitcoin has a block time of 10 minutes. LTC is the network’s native currency and is in use within the network for providing rewards or incentives to the miners. Also, on rare conditions where currencies may be looted, the network has a trace print which will make identifying the hacked currencies easy! Also, powering confidential transactions, Litecoin turned out to be the network that proved every participant can exchange currencies with zero cost!Įvery transaction made on the blockchain remains irreversible and gets stored there forever! Like conventional blockchain technology, literally, nobody has edit access to the data/transaction on the Litecoin blockchain, thereby ensuring security and transparency. But the platform involves complex computational algorithms to mine blocks that are then fastened to the blockchain of the network, which is a public ledger.įor mining, the platform uses the Scrypt protocol which helps in maintaining extra decentralization. Sharing similarities with Bitcoin, it works on a Proof-of-Work consensus mechanism.