Litecoin, the original altcoin, was created in 2011 and is very similar to bitcoin in all but a few aspects. Intended to be “The silver to bitcoin’s gold”, Litecoin has surpassed bitcoin in daily trading volume (USD).
A few takeaways from the chart:
- Litecoin’s 24h trade volume is nearly $8m more than bitcoin
- Litecoin has surpassed Ripple, nearly overnight, to reclaim it’s spot as the second largest coin
- Litecoin is experiencing rapid growth, more than doubling in the past few days
Litecoin and bitcoin have both experienced rising prices amid the Greek debt crisis and other global uncertainty. However, while bitcoin’s block reward is expected to halve sometime in the summer of 2016, Litecoin is expecting a halving in less than three months. The impending halving likely explains Litecoin’s incredible growth, especially compared to bitcoin.
It is unclear if Litecoin has reached the peak of it’s rise; it is experiencing it’s first lull in nearly a week.
What does the future hold for Litecoin? Share above and comment below.
The author presently has no holdings or financial interests in any altcoins.
Images via Coinmarketcap and Shutterstock.