The first block of Litecoin (LTC) was mined on October 8th 2011, seven years ago, ushering a new era to the world of cryptocurrency. Litecoin is still known as the most successful sidechain of the pioneer coin, Bitcoin (BTC) seven years later after a multitude of cryptocurrencies have emerged as other sidechains. The question on most LTC investors and other stakeholders are asking is: “How well has Litecoin (LTC) performed as a sidechain to BTC and will it be a solid running project another 7 years from today?”
The number seven has been in for the longest time been referred to as a lucky number. Litecoin Foundation together with the large number of investors will be hoping the seventh birthday of the coin to be as lucky as they say 7 is.
The coming year is the biggest yet for Litecoin
In the coming few months, one of the most important time landmarks in the world of cryptocurrency will be reached as the industry celebrates a decade of existence since Bitcoin’s advent. It surely will be something to celebrate across the board as the industry so much described “a bubble” ever since it started gaining traction, finds feet through a new decade.
One coin that will benefit to the Bitcoin’s 10th birthday in my own opinion has to be Litecoin. Every Batman has a Robin. As much as Litecoin can do without Bitcoin’s influence, or vice versa, big price movements on Bitcoin has corresponded with a similar impact on LTC.
Litecoin’s (LTC) 2018 so far…
The blockchain platform has seen massive developmental growth in the last few months as a partnership with TokenPay (TPAY) will see the first LTC debit cards being produced soon. This will see an improved number of people using the coin in purchases easily and fast using the cards. Such developments saw the founder of Litecoin, Charlie Lee proclaiming the great year Litecoin is having back in September.
Notwithstanding, Litecoin surpassed Bitcoin in Segregated Witness (SegWit) transactions back in September, increasing the number of transactions made on the Litecoin network. [SegWit technology was introduced to reduce the overall transaction fees of transactions on the Bitcoin network as well as enabling faster payments across the network.]
The lucky number 7
“The seventh placed coin [LTC] should wish the its seventh birthday comes with all the luck the number 7 carries.”
The year started off at a sublime pace for any cryptocurrency alive and running before January. LTC saw its price hit a record all-time high of $366.15 USD per LTC token on December 19th, the same day BTC experienced its ATH too. In comparison, most altcoins reached their ATH in the first week of January 2018.
However, the price of the coin has seen a sharp fall in price since the ATH closing its seventh year, 84% lower than its ATH. With the price currently at $58.48 USD per LTC token, the coin trades a percent lower in the last 24 hours placing the coin 7th on the Coinmarketcap listings with a total of $3.5 billion USD worth of LTC.
With tough competition being offered to Litecoin blockchain from coins such as Stellar (XLM), the seventh placed coin should wish its seventh birthday comes with all the luck the number 7 carries.