January 1, 2018 – By Neil V. Hobbs
It was good day for Litecoin (LTC), as it jumped by $22.43 or 10.73%, touching $231.53. Crypto Analysts believe that Litecoin (LTC) is looking for the $254.68 goal. According to 9 analysts could reach $475.26. The highest price was $235.79 and lowest of $207.79 for December 31 – January 1. The open was $209.10. It last traded at Bitfinex exchange.
Aproximately 780,540 LTC worth $174.93M was traded.
For a month, Litecoin (LTC) tokens went up 133.12% from $99.32 for coin. For 100 days LTC is up 369.73% from $49.29. It traded at $29.29 200 days ago. Litecoin (LTC) has 54.57M coins mined with the market cap $12.63 billion. It has 84.00 million coins in circulation. It was founded on 13/10/2011. The Crypto LTC has PoW proof type and operates under Scrypt algorithm.
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.