LItecoin, the digital silver – Glimpse at key fundamentals and technical

It is highly essentially to know that Litecoin has been scrypt dominant. This implies that it is by far the network using scrypt with a larger hashing power. However, even if all the miners from those other coins joined to attack Litecoin, they would not be close to threaten the security of the network.

Litecoin has usually resembled and made use of its software similarities with Bitcoin, along with a more scalable and smaller network, to facilitate the implementation of new developments for Bitcoin and cryptocurrency in general. This way, some of the most important developments in the space have taken place in Litecoin sooner than on any other alt-coin. 

Other obvious difference is the coin supply. While the theoretical maximum supply of Bitcoin is around 21 million coins, that of Litecoin will reach approximately 84 million. This, and the subsequent lower value of Litecoin, are one of the reasons why many people consider Litecoin to be the “silver” to Bitcoin’s “gold”. 

Litecoin also offers a shorter block time of 2.5 minutes as opposed to Bitcoin’s 10. This can make transactions on the LTC network considerably faster and more practical for real world usage. 

Silver to Bitcoin’s Gold: Since inception, Litecoin has been referred to as “digital silver”, to compare with Bitcoin’s “gold”. The comparison (and its depiction as a silver-coloured coin) reflects in fact the main intention of founder Charlie Lee of becoming not a competitor to Bitcoin but rather a complement, in the same way silver and gold are two similar assets with slightly different properties and applications. 

Key Statistics: 

Crypto-asset type: Money Coin

Max. Supply: 84,000,000 LTC

Current Circulating Supply: 
57,634,057 LTC

Market Capitalization: $4.80 billion

Token Economics: Deflationary asset

Technical analysis: LTCUSD (BITFINEX) minor trend moves in symmetric triangle pattern, major trend constantly slides through descending triangle, below 7EMAs after bearish crossovers, both leading & lagging indicators signal bearish momentum. The major trend of this pair constantly slides through descending triangle, below 7EMAs after bearish crossovers, both leading and lagging indicators signal bearish momentum. Courtesy: eToro

Currency Strength Index:FxWirePro's hourly USD spot index is at 147 (which is bullish), hourly BTC spot index was at tad below -60 (bearish), while articulating at 11:54 GMT. For more details on the index, please refer below weblink:

http://www.fxwirepro.com/currencyindex