December 31, 2017 – By Darrin Black
Litecoin (LTC) had a bad 24 hours as the crypto declined $-18.17 or -8.00% trading at $209.07. According to International Cryptocoin Experts, Litecoin (LTC) eyes $229.977 target on the road to $313.968685851397. LTC last traded at Coinbase exchange. It had high of $231.78 and low of $200.8 for December 30-31. The open was $227.24.
About 1.07M LTC worth $232.17M traded hands.
Litecoin (LTC) is up 110.86% in the last 30 days from $99.15 per coin. Its up 338.58% in the last 100 days since when traded at $47.67 and the annual trend is up. 200 days ago LTC traded at $29.19. LTC has 54.55 million coins mined giving it $11.40B market cap. Litecoin maximum coins available are 84.00 million. LTC uses Scrypt algorithm and PoW proof type. It was started on 13/10/2011.
Litecoin LTC – provides faster transaction confirmations (2.5 minutes on average) and uses a memory-hard scrypt-based mining proof-of-work algorithm to target the regular computers and GPUs most people already have – which are its main differentials to Bitcoin. The Litecoin network is scheduled to produce 84 million currency units with a halving in reward every four years just like bitcoin. The coin was created by a Google employee Charles Lee. Litecoin is in second spot to Bitcoin and has spawned numerous clones – however it has a solid base of support and dedicated development team.
The Litecoin project is currently maintained by a core group of 6 software developers led by Charles Lee with a large community that is growing in support.
In May 2017 Litecoin became the first of the Top 5 (By Market Cap) cryptocurrencies to implement the SegWit scaling solution. Later in May of the same year the first Lightning Network transaction was completed through litecoin transferring 0.00000001 LTC from Zurich to San Francisco in under one second.
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This article was curated from Google News. You can read the original article here.