Litecoin (CRYPTO:LTC), whereas being some of the profitable authentic altcoins, has typically been ignored by crypto buyers over the previous couple of years. Nonetheless, in 2017, Litecoin was on prime of the world for a lot of causes. For one, it loved a cushty place inside the checklist of the top10 cryptocurrencies. For an additional, the coin’s founder, Charlie Lee, was some of the common crypto personalities on Twitter Inc (NYSE: TWTR), capable of transfer markets with a single tweet.
At its 2017 peak, Litecoin was buying and selling at US$360 every, a document held till Might 2021, when it topped out at US$413. Notably, Litecoin’s new contemporary excessive was not that rather more than its 2017 excessive. That is notable when you examine it to different cash that ballooned far past their respective 2017 heights. Take Bitcoin (CRYPTO:BTC), Ethereum (CRYPTO:ETH), and Doge (CRYPTO DOGE), for instance; the worst performing of those three was Ethereum, but nonetheless clocked in a contemporary 2021 document 169% above its 2017 excessive.
Litecoin is presently floating simply outdoors the checklist of the top10 crypto initiatives, at quantity fourteen. Whereas comfy within the prime twenty, it’s continuously jostling for place within the capitalization hierarchy with the belongings on both facet of it, Chainlink and Solana.
Will Litecoin ever re-enter the highest 10?
I don’t suppose it would re-enter the top10 checklist. Though, I do recognize a number of traits of the coin; It has a low-ish circulating provide, it has been round for a decade, and the Litecoin Basis has initiated some thrilling initiatives (e.g. Litecoin/Visa playing cards that simply transfers Litecoin to money at some extent of sale)
Nonetheless, its worth proposition is rather less horny than different initiatives. As such, Litecoin doesn’t generate the identical media or public curiosity as its compatriots.
Barring the coin’s attachment to Elon Musk, Tesla Inc (NASDAQ: TSLA), or one other meme, another occasions must happen for Litecoin to re-enter the highest ten. However, regardless of that, Litecoin ought to stay solidly within the prime twenty.
How will the highest 10 checklist look by the tip of 2021?
Earlier than the tip of the yr, buyers will re-learn that blockchain networks aren’t appropriate to displace each expertise. On this respect, I believe it’s secure to say that the terribly named Web Pc will fade into oblivion. Its use case is as foolish as VeChain’s and BitDegree’s.
I think Ethereum-like networks would be the subsequent large factor within the crypto area. Ethereum community charges are extreme and several other alternate options to the sluggish-legacy community have been rising in reputation. I believe this pattern will proceed. As such, I count on Solana to maneuver up the hierarchy and Cardano to strengthen its place in opposition to Dogecoin and Ripple.