Coin of the Week  – Litecoin

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  • November 26, 2020
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26 November 2020.

After crazy last weeks for the cryptomarket, it seems like the hype is over. Litecoin lost a lot of value which was gained over the past weeks and is currently trading at $74.70 and is down by -10.20% against the US Dollar over 7 days. 

  • Volume of Bitwise verified 10 exchanges (last 24hrs): $569,631,098.52
  • Active Addresses (7 day average): 125.04214K

Litecoin is a fork of Bitcoin’s codebase with faster block times as well as larger supply.

Litecoin intended to be a peer to peer Internet currency that enables instant, near zero cost payments to anyone in the world.

The project considers itself complementary to Bitcoin much like a silver to Bitcoin’s gold. It is often used as a pseduo-testnet for Bitcoin, adopting new protocol changes before they are deployed on Bitcoin. The project is open source and aims to be a fully decentralized global payment network without the presence of central authorities in the network.

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