Why Litecoin Is Massively Undervalued vs Bitcoin

Billions of transactions can theoretically be made instantly through the application of smart contracts. Transfers are made with other parties with a 10-day lock-in period, allowing the exchange to either occur between the two parties or have them cancel and be refunded. The first swap can be seen taking place on the YouTube video below. It was released yesterday by Lightning Labs who devised the code. The Lightning Network brought to Bitcoin with Segwit enables users to instantly exchange Bitcoin for Litecoin and vice versa. The first ever transaction between the two coins has now happened. Despite the fact that cryptocurrencies are founded on blockchain technology, in which each…

To assess the result of every transaction, you can use our calculator. Thus, if you use our LTC to BTC converter, it gives you the price that is valid right at the moment. Bitfinex offers order books with top tier liquidity, allowing users to easily exchange Bitcoin, Ethereum, EOS, Litecoin, Ripple, NEO and many other digital assets with minimal slippage. Short-term traders may prefer shorter time frames, such as 1 minute, 5 minute or 15 minute charts. Long-term investors, on the other hand, may prefer much longer time frames such as daily, weekly or monthly charts. Longer time frames may potentially cut out a lot of the irrelevant market noise, and provide more valid buy and sell signals. You might also want to consider running some technical analysis on litecoin. The charts in the IG Trading platform come equipped with a range of indicators to help you identify trends, and plan your first trade accordingly. Litecoin is mainly purchased and sold back and forth by people. Litecoin is a digital money type, meaning that people and institutions can simply use it to transfer money between accounts or buy different products/services.

How to invest in Litecoin on CoinSwitch ?

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies. If you are looking to invest in this technology for the long-run, then a diversified approach may be best. Different cryptocurrencies have differing features and potential benefits, and some may be more successful than others. Diversification is the key to successful investing, as it can potentially assist in the mitigation of risk, while also potentially smoothing out portfolio volatility. It may, therefore, be wise to consider a number of cryptocurrencies when making a long-term investment in this arena. Many point to litecoin’s wider supply as a key reason for its lower price point than bitcoin.

Instead, we source prices from multiple exchanges, and offer our own buy and sell prices. When Litecoin was created, it was considered to be related to Bitcoin. Litecoin was launched back in 2011, and when it was established, Charlie Lee, former Google engineer, and creator of Litecoin, said it is a “lite version of Bitcoin. This message was posted on a Bitcoin forum that was very popular at the time.

TokenInsight x CoinEx Perpetual Contracts Trading Report 2021

The one that comes closest to Bitcoin in terms of market capitalization is Ethereum, with a market cap of around $212 billion. So, it’s not a surprise that Bitcoin is larger than Litecoin. CoinSwitch crypto exchange offers a smooth, safe crypto experience and is the largest crypto app in India with 1.8 million users. Visit now to buy litecoin and 100+ other top cryptocurrencies. In May 2022, MWEB upgrade was activated on the Litecoin network as a soft fork. This upgrade provides users with the option of sending confidential Litecoin transactions, in which the amount being sent is only known between the sender and receiver. Bitcoin is the largest, and most popular, cryptocurrency in the market today. It was created in 2009 and has spawned the entire crypto market that is seen today.

Short-term and long-term perspectives definitely make a difference. As far as cryptocurrencies go, Litecoin arguably mastered the art of staying on the fringes and minding its own business. Now, it seems things are changing as LTC’s recent stats and performance have earned it a good amount of attention from the industry. According to Santiment’s Market Value to Realized Value , Litecoin is currently highly undervalued. An MVRV ratio of -14% also means that the token is in a buy zone and that recovery is in the offing. The last time this metric dropped to the same level was in June 2021 and LTC reacted with a massive jump to $231 from $119.

How to Convert LTC to BTC?

Level up your market knowledge and learn about investing with over 50 free online courses on Trading, Stocks, Options, Futures, Crypto, Technical Analysis and much more. Use Interactive Brokers’ suite of environmental, social and governance tools to develop your own conscious investing plan. Use a full suite of professional trading tools to help make better decisions and manage your portfolio. Spot market opportunities with Advanced Market Scanners and analyze your portfolio with Risk Navigator. Bitcoin price remained well bid above the USD 22,000 zone and was able to spike above the USD…

Thousands of cryptocurrencies exist, and literally any number could be created using similar blockchain technology. Cryptocurrencies allow the user to move money semi-anonymously, though the FBI and IRS are getting better at tracking transactions and freezing accounts. Ethereum’s website offers a comparison chart contrasting decentralized from traditional finance. Litecoin was recently supported by BitPay, and accepted at AMC theatres. Similar to bitcoin, Litecoin is deflationary, with a maximum of 84 million coins that can be minted. Litecoin has a quicker block time of 2.5 minutes, compared to bitcoin’s 10 minutes. Litecoin has a less complex validation method than bitcoin, even though it also uses Proof-of-Work. LTC technical analysisThat story is old now, and the price has declined greatly, and for a time, doom was whispered across the crypto market. Things began to look up for LTC when the price rejected a recognised support level around the $100 – $120 region.

Ethereum vs Solana vs Polygon

A large number of these investors will naturally be under a lot of pressure and could sell at every high – thus slowing down any potential rally. Along with that, the Relative Strength Index is also at a moderately healthy level of 44 at the time of writing this. Hence, if there is some short-term price hike, it would be supported by the RSI to a large extent before seeing a correction. Cryptocurrency is “mined” by powerful computers called miners that perform complex math calculations to create coins.

That said, there’s a lot of positive sentiment surrounding the asset, especially in its long-term. Like all cryptocurrencies, Litecoin is affected by various factors. Litecoin’s code is very similar to Bitcoin’s, giving it several key similarities that should be benefiting the “digital silver” counterpart currently, such as hard-coded scarcity. A reversal on the trading pair could help Litecoin catch up to the rest of the market, which has already set new all-time highs and then some. If and when LTC recovers against BTC, the upside could be swift and violent. One has been the rise of interest in cryptocurrencies and the increasing number of users trading. There is a limited supply of 84 million litecoins, compared to 21 million bitcoin. Currently, 54,268,358 litecoin and 16,736,137 bitcoin are in circulation. Litecoin, the fourth-largest cryptocurrency in the world by value, has hit a record high and rallied nearly 5,800 percent this year, beating rival bitcoin’s rise.

First Ever Cross Chain Atomic Swap Between Bitcoin and Litecoin a Success

Litecoin essentially serves as a “testnet” for improvements to be implemented on the Bitcoin blockchain. For example, Litecoin integrated the Lightning Network – a second-layer technology for Bitcoin to create micropayment channels for payments – ahead of Bitcoin. Another characteristic that makes Litecoin different from Bitcoin is the time it takes to confirm blocks. It takes Bitcoin nine minutes on average to produce a block, while it takes Litecoin two and a half minutes to produce a block on its network.

That growth trend favourably influenced the popularisation of cryptocurrency and attracted the attention of investors again. This is nearly double the 20-year avearge gold-to-silver ratio and near the all-time high. In other words, Litecoin has never been more undervalued relative to Bitcoin. And if Litecoin is really silver to Bitcoin as gold, we should be seeing a much lower BTC-to-LTC ratio. The gold-to-silver ratio is currently around 75 and has averaged closer to 60 over the past few decades. We support crypto transfers between Personal PayPal accounts.

Our website uses a powerful SSL certificate to secure all your data. Whatever information you provide, it is encrypted and only then sent online. It is important to protect your funds when you are performing any transaction. You aren`t required to register or to provide any personal data for the verification procedures. Thus, your personal data cannot be stolen or misused, and you also avoid all the hassle connected with the registration and verification. The main difference is in the algorithms that each coin applies. While Bitcoin uses the SHA-256 algorithm, Litecoin applies a more recent algorithm known as Scrypt.

Litecoin attempted to rise on its chart, however, the bears were still strong on the chart. Although the coin showed some recovery, technical outlook pointed towards further decline. For those who have been following for a while you may already be well aware of our stunningly correct bearish stance on the entire crypto space since Spring of 2021 (how we doing bulls?). If this were NBA JAM the video game–anyone who understands the inherent unpredictability of markets and posseses the ability to ‘zoom out’ likely would have uttered the phrase… Get the latest crypto news, https://www.beaxy.com/faq/beaxys-guide-to-sending-wire-transactions/ updates, and reports by subscribing to our free newsletter. All of our content is authored by highly qualified professionals and edited by subject matter experts, who ensure everything we publish is objective, accurate and trustworthy. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Bankrate senior reporter James F. Royal, Ph.D., covers investing and wealth management. His work has been cited by CNBC, the Washington Post, The New York Times and more. You must check the box to agree to the terms and conditions.

In June 2017, Charle Lee left his position at Coinbase to commit to Litecoin full time and is currently head of the Litecoin Foundation, which stewards and finances Litecoin ecosystem development. Trading manually is an exhausting, time-consuming and unnecessary process. Wall Street Brokers and other goliath institutions trade in a better, more efficient way through the use of automated trading bots but this technology is no longer reserved for the big fish. More halvings are bound to occur, meaning the asset becomes rarer and potentially increases in value. More games like LiteBringer could entice additional investors to the platform and other use cases like shops accepting the asset. Digital Coin Price, a site that makes its predictions based on historical data, also has an optimistic look at the future of Litecoin. Read more about ether usd calculator here. There are also four times the number of Litecoin than Bitcoin with only 84,000,000 LTC ever going to exist. While this makes it inherently less scarce, this does ensure the world could have an easier time adopting Litecoin as a traditional asset. Losing support would take LTCBTC to the lowest levels yet, but a full reversal here could take the altcoin back to highs on its ratio against Bitcoin.