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Litecoin LTC Price Live, LTC to AUD today, chart and marketcap

Learn more about Litecoin, what it is, the current price, market cap and all the latest news. Visit Coin Culture for the latest Cryptocurrency news.

The live price of Litecoin is $148.21 per (Litecoin / AUD) today with a current market cap of A$ $10.99 B. Litecoin to AUD price is updated in real-time. Litecoin is -1.56% down in the last 24 hours.


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  • litecoin
    Litecoin (LTC)
  • Live Price
    $148.21
  • 24h %
    -1.56%
  • Market Cap
    $10.99 B
  • Volume
    $1.46 B
  • ATH
    $635.85
  • High 24H
    $150.85
  • Low 24H
    $144.37
  • Available Supply
    74.36 M LTC
  • Rank
    23

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Technical Analysis

More Info About Coin

Litecoin (LTC) is a digital currency for an instant, near-free transaction. It operated on open-source software designed by a community of Litecoin developers and was released in 2011 as an alternative to Bitcoin based on modifications to Bitcoin's original code. Below is Litecoin's history, how it operates, LTC price prediction, and where to acquire it.

What is Litecoin (LTC)?

Litecoin (LTC) is an alternative digital currency created by Charles "Charlie" Lee, a former Google engineer, in October 2011. Litecoin's open-source code was derived from Bitcoin with several modifications.

Litecoin, like Bitcoin, is founded on a decentralised, open-source global payment network. Litecoin differs from Bitcoin in several ways, including its quicker block generation rate and use of the Scrypt proof-of-work algorithm. It is regarded as one of the earliest altcoins, originating from Bitcoin's initial open-source code.

Initially, it was a formidable rival to Bitcoin, though as the crypto market has become more crowded and competitive with new offerings in recent years, Litecoin's prominence has diminished somewhat.

Litecoin has always been perceived as Bitcoin's response. When Lee announced the launch of Litecoin on a prominent Bitcoin forum, he referred to it as the "light variant of Bitcoin." 1 Consequently, Litecoin shares many of the same characteristics as Bitcoin while incorporating and modifying other characteristics the development team felt could improve.

As of November 2021, 1 LTC is valued at approximately $215, making it the fourteenth-largest cryptocurrency with a market valuation of approximately $15 billion.

How does Litecoin work?

Litecoin, like other decentralised cryptocurrencies, is not issued by a government and is not printed by the Bureau of Engraving and Printing. Rather, Litecoins are generated through a complex cryptocurrency procedure known as mining, which entails processing a list of Litecoin transactions.

Similar to Bitcoin, Litecoin employs proof-of-work mining to secure its networks. PoW requires one party to demonstrate to all other network participants that a specified quantity of computational effort has been exerted. In contrast to Bitcoin, which employs the SHA-256 PoW hashing algorithm, Litecoin uses the less resource-intensive Scrypt PoW algorithm.

Lee created Scrypt to impede large-scale, custom-built hardware attacks on a currency. As mining operations developed specialised hardware, such as the application-specific integrated circuit (ASIC), to solve SHA-256 hashing at the beginning of the 2010s, Bitcoin appeared susceptible to such an attack.

By making Litecoin's consensus algorithm memory intensive, Lee hoped to thwart the hardware arms race. However, the rise of GPUs met the need for more RAM, rendering Lee's strategy ineffective.

In 2017, Litecoin implemented "Segregated Witness," a technology that enables cryptocurrencies to include more transactions per block. Later that year, the first Lightning transaction was executed on Litecoin, demonstrating its ability to use a layered network architecture.

What is Litecoin used for?

Litecoin was one of the first successful alternative cryptocurrencies, and it was criticised over time for lacking a distinct value proposition. As a result of its limited supply and marketing as the "silver to Bitcoin's gold," it has attracted users.

A halving mechanism governs the inflation of Litecoin. Since its inception in 2011, its blockchain has proven to be secure enough to prevent 51% of attacks, which occur when a mining entity or entities control more than 51% of the computing power that secures the network and alters the blockchain's history.

Because it has not been subjected to significant exploits, it is viewed as a trustworthy cryptocurrency that can be used to conduct transactions at a relatively low cost and is, therefore, the "silver" of the cryptocurrency world.

The cryptocurrency is now popular among investors and speculators who speculate on its price based on its limited supply and issuance reductions. Given its dependability, LTC can be incorporated into a portfolio to expose investors to the crypto market's fluctuations without the risk of unpleasant surprises.

Privacy is much simpler to maintain on the Litecoin network than on networks with larger transaction fees because the cost of transferring funds around is reduced. Most cryptocurrency payment processors accept it as payment for products and services.

Litecoin is a highly liquid cryptocurrency available on most crypto exchanges, making it an ideal trading asset. As transactions on its network are comparatively inexpensive, some use it to transfer funds between various exchanges or lending platforms to avoid the high transaction fees on networks like Bitcoin or Ethereum.

The Litecoin network consistently processes over one hundred thousand transactions daily and has between two hundred and three hundred thousand active addresses. Though less prominent than the Bitcoin network, its efficacy is undeniable.

How many Litecoins are there?

The maximum supply of Litecoin is 84 million, with approximately 66 million in circulation as of July 2021. Like Bitcoin, Litecoin undergoes a block reward halving roughly every 840,000 blocks, or four years, gradually reducing the rate at which new coins are mined.

The Litecoin network has already experienced two halvings, the first in 2015 and the second in 2019. At launch, block rewards began with 50 LTC and are presently 12.5 LTC. The next halving is projected to occur in August 2023 and will reduce the rewards to 6.25 LTC per transaction, comparable to the current Bitcoin mining rewards.

The halving mechanism has been designed to make it more challenging to mine LTC as its circulating supply approaches its maximum supply. This prevents the coin from inflating indefinitely and rewards miners who participated in maintaining the network in its early stages.

Litecoin price analysis and prediction

Litecoin LTC price chart. Source: CoinMarketCap

Litecoin was the thirteenth most significant cryptocurrency by market capitalisation as of 1 December 2022. The payment-focused cryptocurrency peaked at $412.96 on 10 May, 2021. Litecoin could not scale this apogee when the likes of bitcoin and ether reached record highs in November 2021.

As of 1 December 2022, Litecoin prices have declined approximately 48% year-to-date, in tandem with the broader cryptocurrency market. LTC was 81% below its all-time high at the time of writing.

As of 1 December 2022, LTC has rebounded to register a 38% increase over the last thirty days, bringing the price to approximately $77. According to WalletInvestor's LTC price forecast for 2023, the token will trade for an average of $108 by the end of 2023. By the end of 2025, it may sell at an average price of $105 per coin.

In its Litecoin price prediction for 2030, PricePrediction held a favourable stance on LTC and predicted that the token would trade for an average of $1,451. In the meantime, DigitalCoinPrice's expected that the coin would trade at an average price of $92.99 in 2022 and surpass $400 in five years.

How to mine Litecoin?

You will need to invest in mining hardware and software to get started. The current state of the Litecoin mining network is such that a single miner with a single ASIC, a computer, or a laptop has no or minimal chance of solving a hash to earn a reward. With only one or two ASICs, you may not be able to compete with the mining network, large farms, and mining pools.

The Litecoin Miner L7, for example, can mine at a rate of 9 GH/s (gigahashes per second, or nine billion hashes per second). In contrast, a CPU typically mines at a rate of thousands of hashes per second (KH/s). A mining network can exceed 120 TH/s (120 terahashes per second, or 120 trillion hashes per second).

To begin mining Litecoin, you must acquire one (or multiple) ASIC miners and connect them to the internet. Then, you'll need to join a mining pool, configure your miner according to the pool's instructions, and begin mining according to your system, software, and pool instructions.

You must also select a wallet to store your private credentials. You can opt for wallets such as Exodus, Electrum, and Mycelium.

How to buy and store Litecoin?

If you intend to purchase Litecoin from exchanges such as Coinspot, Coinbase or Binance instead of mining it, you must create an account with your chosen exchange. Before selecting an exchange platform, you can evaluate its security, fees, and user-friendliness.

After verifying your account, determine how much LTC you wish to purchase. The exchange you select determines the purchasing process and acceptable payment methods (such as debit/credit card or bank transfer).

Enter the amount you wish to purchase and examine the transaction preview to view the fees and amount of Litecoin you will receive, then confirm the transaction if everything is satisfactory.

Lastly, you can use crypto wallets for storing your cryptocurrency. Many investors keep their cryptocurrency on the exchange where it was acquired, but transferring it to a crypto wallet increases its security. For instance, you can maintain track of your LTC by installing the Litecoin wallet on your iPhone or Android phone.

Is Litecoin a good investment?

Although Litecoin may be too hazardous to be considered a worthwhile long-term investment, there are reasons to view it as a potentially lucrative short- or long-term trading instrument, mainly if volatility is used to one's advantage.

Due to the current consolidation process that this coin has been undergoing, a break in any direction is possible, with the likelihood that it will be bullish due to the positive background.

Consequently, the presently depressed levels at which LTC is trading appear to be an attractive entry point for those willing to hold the coin for the next six to twelve months, with a potential Litecoin price prediction for 2021 of between $87 and $107, the 0.382 and 0.5 Fibonacci extension levels.

Some analysts believe that, following the halving, the Litecoin price will be able to increase over the next few years, predicting a bright future with all the planned integrations and partnerships.

According to the optimistic LTC price forecast by Cryptoground.com, Litecoin will reach $88.30 in one year, representing a gain of almost 109%. As the favourable trend continues, the LTC price is anticipated to reach $347.8 by the end of 2024.

Will Litecoin's price go up? Once the stock breaks above its recent high of $70, accompanied by a rising MACD and RSI, robust trading volumes should be observed to confirm a bullish break.

FAQs about Litecoin (LTC)

What is the market cap of Litecoin (LTC)?

Litecoin (LTC) has a market cap of $6,668,167,942 and currently ranks #16 on CoinGecko. Market capitalisation is calculated by multiplying the token price by the number of circulating LTC tokens (72 million tokens are tradable on the market today).

When is the next Litecoin halving event?

 Block halving occurs every four years on the Litecoin blockchain. The block reward is divided every four years, and the initial transaction reward for Litecoin was 50 LTC. The subsequent LTC halving event may occur in 2023. The average Litecoin price is predicted to reach $196,247 by the end of 2025. With a future increase, the price could reach $497,748 by the end of 2030.

What is better, Litecoin or Ethereum?

Litecoin is a cryptocurrency designed specifically for peer-to-peer transactions. Ethereum is an ecosystem that operates on a global virtual machine that enables numerous cryptography-based technologies. Ether (ETH) is a token that facilitates transactions within the Ethereum blockchain. ETH has a higher transaction volume and rates among the top five cryptocurrencies in terms of value. The superior option depends on your preferences, objectives, and intended uses.

How to stake Litecoin?

To begin staking your currency, you will need a wallet with some LTC and a free network account. You can stake your coins on exchanges such as CoinSpot or Binance that offer staking services by placing them in a staking pool. Consequently, you will be able to validate blocks and earn newly-minted Litecoin.

Is mining Litecoin profitable?

Litecoin mining can be profitable but requires a suitable setup and participation in a pool that divides rewards.

What is the best method to mine Litecoin?

Joining a mining pool and purchasing one or more ASIC miners expressly intended for Litecoin and Scrypt is the best and only method to receive a reward. Otherwise, you will need the more computational capacity to contend.

Final Thoughts

The continued success of Litecoin demonstrates that alternative cryptocurrencies can withstand the passage of time, remain pertinent, and continue to evolve. The low cost and speed of Litecoin transactions and its expanding community have all contributed to its acceptance as a form of payment by thousands of merchants worldwide. 

Nevertheless, only time will tell if Litecoin will live up to its reputation as the silver to Bitcoin's gold. Always conduct your research, and keep in mind that your decision to trade or invest should be based on your risk tolerance, market expertise, portfolio size, and investment goals.

 

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