Litecoin Investment: Does it still have a future in the crypto sphere?

Is there still time to invest in the Litecoin cryptocurrency? Isn’t it obsolete? Here is the answer in this article from The Blog!

The Litecoin cryptocurrency is one of the oldest cryptos that currently exists. It was created in October 2011 by Charlie Lee and quickly became one of the leading cryptocurrencies in your portfolio.

While many people consider Bitcoin digital gold, Litecoin is digital money. However, a question arises during this Bear Market, does the LTC token still have a future in the crypto sphere?

Is it investing in Litecoin in 2022? Is this a good idea?

At the time of writing, Litecoin is in 19th place by capitalization in cryptocurrency. While in 2013, the LTC token was in second place. This descent and disappearance of the top 3 are probably due to a panoply of new blockchains more interesting from a technological, security and scalability point of view and the Litecoin blockchain.

However, it remains with a market cap of over 3.3 billion euros. So does Litecoin still have an actual use in the crypto sphere?

READ MORE: Bitbuy Review 2023: Is It the Best Cryptocurrency Exchange in Canada?

Do we need Litecoin?

Many opinions differ on this issue. Indeed, various developers believe Litecoin (LTC) has become obsolete now that the Bitcoin cryptocurrency has evolved with the Lightning Network.

However, other LTC enthusiasts believe it is still helpful and serves as a trial for different technologies. Its rising adoption across different payment and investment platforms should guarantee its survival in the coming years.

This argument for Litecoin was already dead to me in 2017. It was taking a limitation of nature and needlessly putting it back into artificial technology.

Finally, Jay Milla, Director of the Litecoin Foundation, said: “The analogy of silver and gold makes a lot of sense when you look at the coins most used for payments. Bitcoin still has market share, but Litecoin is the second most traded digital currency for payments.”

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