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Litecoin has simply turned eight years outdated. LTC was launched in October 2011 and has stood the take a look at of time alongside its massive brother which spawned the onerous fork. These days, there was quite a lot of FUD over the crypto asset, and most of it’s utterly tenuous and pointless.
Litecoin Survives eight Years
Cryptocurrencies come and go, some in only a brief area of time. The market clearly isn’t sufficiently big but to help even a fraction of the just about 3,000 cash and tokens listed on Coinmarketcap.com. One good solution to discover out which of them have the mettle is to have a look at people who have survived the take a look at of time.
CMC’s historic snapshot instrument doesn’t even return so far as the time LTC was spawned and its earliest day is April 2013. Again then simply seven cryptocurrencies had been listed and at present solely two of them nonetheless exist within the prime 300: BTC and LTC.
Litecoin creator, Charlie Lee, celebrated this achievement with a birthday tweet for the phrase’s sixth largest crypto asset.
Litecoin community has been up and operating repeatedly for the previous eight years with zero downtime. And in that span of time, over $500,000,000,000 price of LTC have been transacted.
Pleased eighth birthday to Litecoin! 🎉
Litecoin community has been up and operating repeatedly for the previous eight years with zero downtime. And in that span of time, over $500,000,000,000 price of LTC have been transacted. 😮
Wanting ahead to the subsequent eight years and extra! 🚀 pic.twitter.com/ItcDWrdCf1
— Charlie Lee [LTC⚡] (@SatoshiLite) October 13, 2019
Naturally, quite a lot of crypto tribalism and mudslinging adopted that tweet with many traders remembering how Lee bought out on the peak when Litecoin topped $350 nearly two years in the past.
There have been additionally calls of chapter following a media FUD storm concentrating on the challenge. Lee was fast to refute this adding;
It’s not close to chapter. Don’t hearken to silly fud and lies. We find the money for to final 2 years.
Granted, Litecoin has failed to carry on to its beneficial properties this yr, however so has each different altcoin so the FUD is only superfluous. Because the starting of the yr, LTC has gained 88% to its present ranges regardless of a large 60% correction from its 2019 excessive of $145.
LTC worth YTD – Tradingview.com
The chart mirrors that of most different altcoins that are all nonetheless shifting in synch with one another. It did endure the demise cross in late August because the downtrend intensified and is unlikely to recuperate till Bitcoin begins heading north once more.
LTC has been consolidating across the $55 degree for the previous three weeks however has been in a steep downtrend because the finish of June having gained little or no from the halving occasion.
The silver to bitcoin’s gold has survived eight years and outlived many others which have come and gone, it is also more likely to be round for a short time longer no matter what the detractors suppose.
When will Litecoin worth make a restoration? Add your ideas under.
Photographs through Bitcoinist Media Library, Twitter: @SatoshiLite, LTC/USD charts by TradingView
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