The price of litecoin was around $ 185, less than four thousand crowns, on Friday, while in December 2017 it doubled, which is the current price record.
In the top ten cryptocurrencies by market value, litecoin is the only one other than XRP that has not yet demolished price peaks. With the massive rally going through the entire cryptocurrency market, litecoin holders expect their investment to follow a trend soon and catch up.
They can find support for their expectations, for example, in the fact that the number of litecoin addresses, which freely corresponds to the number of holders, is the highest since last June and reaches almost a quarter of a million, according to Glassnode. But speculators should not underestimate the risk, albeit short-term, of correcting some of the overburdened prices for virtual currencies, which they would scarcely hope for litecoin records.
Among other altcoins, however, litecoin excels at least in a certain stability: after bitcoin, it is the oldest in the top ten cryptocurrencies. It started operating in 2011 and is among the most widespread virtual currencies, unlike many others in the long run. This is evidenced, among other things, by the fact how significantly the top ten according to the market capitalization has changed in the last seven years: only bitcoin with litecoin remained in it, terracoin or freicoin projects ended in oblivion.
The advantage of litecoin is lower transaction fees compared to bitcoin or ether. Many users use litecoin to move their virtual assets across digital wallets and exchanges.
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The ten-year-old cryptocurrency is relatively well known in the Czech Republic. It was promoted, for example, by the cryptocurrency evangelist Karel Fillner, and she was also interested in the fact that the Alza online store began to accept it as a means of payment in 2018, similar to, for example, the Parallel Polis café.
However, global interest in cryptocurrencies has been growing, especially in recent months. The total value of the cryptoactive market at the beginning of January exceeded one trillion dollars for the first time, approximately 21.5 trillion crowns.
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