BREAKING: LiteCoin $LTC Hits $53.63 All-time High - Passes Ethereum in 24h Volume, Nears Bitcoin
If you missed the Ethereum train about 2 months ago....like I did, is LiteCoin our next best shot at 2x, 3x, 4x growth?
On June 9th, Charlie Lee, creator of Litecoin, quit CoinBase to focus on developing LiteCoin full-time Since that has happened, LiteCoin has grown from $30.36 on June 9th to a high of $53.63 yesterday. That's....a $23.27 30-day change which equates to a 77% 30-day increase in LTC price. The coin is sitting around $51.25 right now and we can only be lucky enough for this coin to drop in price a bit.
Notice in the CoinMarketCap picture above - LiteCoin's market capitalization is $2.66B with almost 52m circulating coins. Got it? Now, take a look at the 24h volume on LiteCoin in comparison to the top 3 coins ahead of it. See how LiteCoin's 24h volume is trading at...
$939,0556,000 (24h volume) /$2,660,524,342 (Market cap) = 0.35295899577978753182180056144737 =
LiteCoin 24h volume is trading at 35.296% of market cap
Bitcoin:
$958,501,000(24h volume)/$42,403,309,961 (Market cap) = 0.0226043910459247462236100224893 =
Bitcoin is trading at 2.26% of market cap
Ethereum:
$675,113,000 (24h volume / $25,697,652,862 (Market cap) = 0.02627138764872618894512327932932 =
Ethereum is trading at 2.63% of market cap
Notice how LiteCoin's 24h volume is at 35% of it's overall market cap compared with sub 2.6% with Bitcoin and Ethereum? THAT is where LiteCoin is going to see growth coming from. Imagine just 1/2 of their 24h volume was retained within LiteCoin's overall market cap:
$2,660,524,342 (real LTC market cap) + ($939,056,000/2) =
$469,528,000 + $2,660,524,342 =
$3,130,052,342 (Hypothetical market cap) / 51,838,932 (circulating LTC) =
$60.33 LITECOIN PRICE
Considering LiteCoin was JUST at $27.32 30-days ago, the coin will EASILY hit $60 so long as development and adoption continues to increase. I wish we could grasp a better understanding of how healthy these blockchain ecosystems are while having the ability to measure various important facets like marketing, social mentions, sentiment, sheer search volume, social media engagement, etc. all wrapped into one webpage or real-time report that change with the data.
Why? Well...my education is in finance and I'm JUST learning how to trade and, well, it doesn't take a genius to predict that LiteCoin will continue growing as long as the community is zealous for growth. I think another major factor to take into account is adoption from those OUTSIDE of the cryptocurrency community. For every new dollar that buys a LiteCoin, the overall market cap increases. If we buy and hodl...well, I don't see why that market cap AND price won't just continue to creep toward the moon. d[^_^]b
Above is Steemian art from Steemian Artist @fathin-shihab! You can find the original post with this artwork included here. I really appreciate this artwork because it totally cotributes to the Steemit community and will attract outsiders to join our community - very cool!! d[^_^]b
Hope you enjoyed this update and get your LTC before we see it 2x, 3x, or 4x+! I'm excited to be sharing this type of news with you and I appreciate all shares, upvotes, and comments and insights that I can get from my community. The more we all participate and engage with each other, the more noise we make and the more people join in on this fun cryptocurrency community we are all building, together!
@crowdedmind
Below are some posts I've done in the past to help new cryptocurrency enthusiasts. Hope they can be a resource to you :]
It passed Bitcoin!
Really appreciate the insight on Litecoin.Will continue to buy.
Thanks @yardie!! I'm right there with you - going to continue buying as well. I don't see why market cap can't pass #ripple...specially considering #litecoin will be used as #bitcoin alternative!
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