The Litecoin community is elated that the altcoin hit a new all-time high of $56.03 recently. Experts feel that it is better to invest in Litecoin than in Bitcoin or Ethereum at the moment but that argument could be debated considering the fact that Bitcoin has been growing at a rapid pace in 2017.
For a long time, Litecoin price remained below $40, making users feel that it is undervalued. Now that its price has shot up to $50.03, some speculators feel that there is going to be pullback, taking into consideration the simple fact that a sharp rise in price is usually followed by a sharp fall in price considering the fact that Litecoin was worth only $41.09 a few days ago. But so far, Litecoin price has remained stable and this has made many Litecoin users very happy.
The last few months have been very beneficial for Litecoin, especially after its major mining pools united to activate Segregated Witness (SegWit) on the Litecoin network. To make things better than ever, Charlie Lee, the founder of Litecoin resigned from his post at Coinbase in order to focus entirely on Litecoin. People never expected him to resign, but he decided that he wanted to spend all his time on Litecoin and the Litecoin community was very happy about his decision.
While Bitcoin has become popular throughout the world and is used widely in the online gambling industry, Litecoin enjoys greater demand at Asian cryptocurrency exchanges such as Huobi, OKCoin.cn and Bithumb at the moment. Currently, Litecoin’s trading volume has exceeded $1 billion in 24 hours. If more merchants start accepting payments in Litecoin, things are definitely going to improve for the Litecoin community.
When compared to Bitcoin and Ethereum, Litecoin stands in a class of its own. Bitcoin is a highly volatile digital currency, with its price rising and falling sharply. The price of Ethereum is fast falling and it is hard for analysts to predict the exact reasons for the drop. Right now, Litecoin appears to be a better choice for investors as its price is increasing slowly but steadily and does not appear to be volatile.
Charlie Lee launched Litecoin back in 2011 and since then it has slowly grown in popularity especially because it is extremely quick to complete transactions. Many experts feel that Litecoin is developing faster than Bitcoin chiefly because of the lack of unity in the Bitcoin community. Litecoin has two major advantages over Bitcoin. First, it has succeeded in adopting Segregated Witness (SegWit) while the Bitcoin community is still struggling to do so. Second, it has a founder who is not only known, but has also quit his job at Coinbase to work full-time for its development whereas Bitcoins founder is still unknown.