Coins: 2139
Exchanges: 159
Dominance:
BTC 40.9%
ETH 17.0%
BCH 4.89%
  • Market Cap
    $4,767,504,917.05
  • 24 Hour Trading Vol
    $381,712,191.29
  • 24h Low / 24h High
    $77.25 / $83.58
  • Available Supply
    57.4 Million / 84 Million
LTC
USD

Litecoin (LTC) Overview

Complete Metrics Score
71%
Total
Major Exchanges Trading Activity
80%
Liquidity
Source Code Repository Activity
74%
Developer
Social Media & Discussion Board
62%
Community
Price Chart
About

Litecoin is a peer-to-peer cryptocurrency created by Charlie Lee. It was created based on the Bitcoin protocol but differs in terms of the hashing algorithm used. Litecoin uses the memory intensive Scrypt proof of work mining algorithm. Scrypt allows consumer-grade hardware such as GPU to mine those coins.

Why Litecoin?
Litecoin is a cryptocurrency that has evolved from Bitcoin after its own popularity in the industry, this alternative, or ‘altcoin’ has emerged to allow investors to diversify their digital currency package, according to Investopedia. Litecoin is one of the most prominent altcoins and was created by former Google employee and Director of Engineering at Coinbase, Charlie Lee. Litecoin was the first to alter Bitcoin and the most significant difference is that it takes 2.5 minutes for Litecoin to generate a block, or transaction, in comparison to Bitcoin’s 10 minutes.

‘While this matters little to traders, miners who use hardware to run Bitcoin’s network cannot switch over to Litecoin. This keeps bigger mining conglomerates away from Litecoin because they cannot easily optimize their profits by swapping to another coin, contributing to a more decentralized experience. Litecoin also has bigger blocks, and more coins in circulation, making it more affordable and swift when transacting,’ Investopedia explained.

As explained above, Litecoin can transact a lot faster than Bitcoin, but there are also a number of other characteristics that investors need to know before trading. According to Coindesk, Litecoin can handle higher volumes of transactions because of the capability of transacting faster and if Bitcoin attempted to transact on the scale of its altcoin, a code update would be needed. However, Litecoin’s blocks would be larger, but with more ‘orphaned blocks'. The faster block time of litecoin reduces the risk of double spending attacks - this is theoretical in the case of both networks having the same hashing power.

Litecoin Technical Details:
The transaction confirmation time taken for Litecoin is about 2.5 minutes on average (as compared to Bitcoin's 10 minutes). The Litecoin network is scheduled to cap at 84 million currency units.

Litecoin has inspired many other popular alternative currencies (eg. Dogecoin) because of its Scrypt hashing algorithm in order to prevent ASIC miners from mining those coins. However it is said that by the end of this year, Scrypt ASIC will enter the mass market.

Litecoin, an altcoin of the better known cryptocurrency Bitcoin, has soared to the record high of $290.99, a YTD increase of more than 4,000%, as listed on CoinMarketCap. Many are asking why the price of digital currencies has and is rising, whether Litecoin’s recent price increase is because of Bitcoin and if this bubble will burst.

Quick Stats
Litecoin Price $83.00
Market Cap $4,767,504,917.05
Trading Volume $381,712,191.29
24h Low / 24h High $77.25 / $83.58
Gecko Rank #6
Market Cap Rank #7
All-Time High $360.66
Since All-Time High
-77%
All-Time High Date 2017-12-18 (7 months)
24 Hours
5.9%
7 Days
3.6%
14 Days
-2.1%
30 Days
-13%
60 Days
-37%
1 Year
97%
Twitter Sentiment
Powered by iunera
Beta Chain Info (CryptoID)
Mining Difficulty 9,308,365.7206715
Total Blocks 1,455,605
Links
Homepage http://litecoin.org
Announcement BitcoinTalk Thread
Blockchain/Supply http://explorer.litecoin.net/chain/Litecoin
Discussion Forum https://litecointalk.org/
Misc. Info
Genesis Date October 08, 2011 (almost 7 years)
Hashing Algorithm Scrypt
Hashrate 347 TH/s
Block Time 2.5 minutes
Available/Total Supply 57.4 Million / 84 Million
# Exchange Pair Price 24h Volume Volume %
1
Updated 3 minutes ago
$83.23
83.27 USDT
$49,394,915.79
593446.357 LTC
27.48%
2
Updated 4 minutes ago
$83.30
0.01241817 BTC
$41,656,991.20
500090.651 LTC
23.17%
3
Updated 4 minutes ago
$83.34
83.3563 USDT
$34,367,254.89
412364.817 LTC
19.11%
4
Updated 4 minutes ago
$83.44
0.012439 BTC
$30,610,104.17
366857.817 LTC
17.02%
5
Updated 3 minutes ago
$83.14
0.012397 BTC
$23,749,017.88
285658.626 LTC
13.21%
3093
Stars
541
Watchers
1996
Forks
43
Contributors
94
Merged Pull Requests
275 / 292
Closed Issues / Total Issues