Index
Indicators
Information about Litecoin (LTC)
Litecoin (LTC) is an open source software project developed on top of the Bitcoin (BTC) protocol. Launched in 2011, LTC is one of the first alternative cryptocurrencies (altcoins) to emerge. With its peer-to-peer nature, Litecoin allows users to conduct near-instantaneous transactions with extremely low transaction fees. The Litecoin network is decentralised and relies on open source code that is not controlled by any management entity or central authority. Although it uses the proof-of-work (PoW) consensus mechanism like Bitcoin, Litecoin uses the Scrypt algorithm instead of Bitcoin's SHA-256.
Litecoin was created by Charles Lee, a computer scientist and former Google engineer. He is also the executive director of the LiteCoin Foundation. Litecoin was launched on 7 October 2011 with the aim of providing a fast, secure and low-cost payment method that leverages the unique properties of blockchain technology.
Litecoin Halving is an event similar to Bitcoin Halving that takes place every 4 years on the Litecoin blockchain. This event halves the reward for miners, thereby controlling inflation rates and limiting the supply of LTC. The most recent Litecoin Halving took place on 2 August 2023 and reduced the block reward from 12.5 LTC to 6.25 LTC.
News
Litecoin (LTC) is lagging behind, currently priced at around 81 USD, showing signs of a double-top pattern. If LTC does not hold above 100 USD, declines to the 55-60 USD range could occur.
Analysts anticipate LTC could rise to 175-200 USD in 2025 if it breaks key resistance at 140 USD. In contrast, mixed AI predictions show possibilities ranging from 70-100 USD based on market conditions.
Cassava Technologies, led by Strive Masiyiwa, partners with Nvidia to establish Africa’s first AI factory in South Africa by June 2025. This initiative aims to equip local businesses with advanced AI capabilities to foster innovation and support economic growth.
Market optimism for exchange-traded funds (ETFs) linked to XRP, Cardano (ADA), and Litecoin (LTC) is rising, with probabilities of 87%, 61%, and 68% for regulatory approvals by 2025, spurred by recent legal developments surrounding Ripple Labs.
According to Polymarket, there is an 87% probability that XRP ETF will gain regulatory approval by 2025 due to the SEC’s recent legal retreats. This insight enhances market optimism for cryptocurrency ETFs.
Ripple Labs’ favorable news has bolstered enthusiasm for XRP, while ADA and LTC’s ETF approval probabilities stand at 61% and 68%, respectively. Bitcoin is demonstrating stable trading ranges, indicating potential breakout levels.
Litecoin boasts 77.7% of holders classified as long-term investors, exceeding Bitcoin’s and Ethereum’s figures. However, this strong HODLing sentiment correlates with low short-term profitability.
Currently priced at 90.98 USD, LTC is struggling to recover as it remains below its 50-day and 200-day moving averages. The RSI indicates weakened momentum, potentially trapping LTC in a consolidation phase.
People also own