Litecoin (LTC), created in 2011 by Charlie Lee, is often referred to as the “silver to Bitcoin’s gold.” It was designed to offer faster transaction speeds and lower fees compared to Bitcoin, making it a viable option for everyday transactions. Litecoin utilizes the Scrypt hashing algorithm, allowing for a block generation time of just 2.5 minutes, compared to Bitcoin’s 10 minutes.
As of January 2025, Litecoin has processed over 300 million transactions, showcasing its reliability and scalability. The total supply of Litecoin is capped at 84 million coins, providing a scarcity similar to Bitcoin. Recent predictions suggest that by February 2025, LTC could trade between $118.58 and $168.96, driven by increased adoption and the implementation of the Lightning Network for faster transactions.
Litecoin continues to be a significant player in the cryptocurrency market, with ongoing developments aimed at enhancing its usability and expanding its merchant network globally.
