One of the Litecoin Developer stated, Litecoin is currently still in the top 10. If you exclude Tether (stablecoin), it’s 7th place in market cap. It’s still top 3 traded coins (on most exchanges like Coinbase), one of the most accepted (online, retail and crypto ATM machines) etc.
Yet another user stated, if there were more developers/coders I think Litecoin could have remained in the top ten in 2021.
Very recently, one of the Reddit user stated that when ranked alongside U.S. traded stocks and ETFs, Litecoin is trending towards breaking into the Top 1,000 assets by market cap. Further expressed that Litecoin is up +50 spots in 48 hours as it gained on the news that PayPal is integrating support for cryptocurrencies.
Several Arguments have also been proposed about why users are holding Litecoin. The very common reason is its comparability to Bitcoin and the related favorability – Litecoin as the silver to Bitcoin’s Gold ideal.
Also, Litecoin does not compare with Bitcoin on the hashing power and the security factor. When compared to BTC, the LTC security is not as robust. Many feel that anyone who believes in Bitcoin should support Litecoin.
Many do not agree to the idea of Holding LTC for too long. They recommend sell on a high, buy back on the low and accumulate as a result. However, those who have trouble timing the market accurately might feel better with HODL.
The general idea is that those who are bullish about cryptocurrency in the long term that they simply HODL and not be bothered about the little difference in points. For those who do not like watching the charts all the time HODL can be a good idea.
In this regard, Sydney Ifergan, the crypto expert tweeted: “Whether holding Litecoin (LTC) or any other cryptocurrency waiting for a decent ratio to trade will just lead to losing money. Slim line between smart move and best move.”
Some opine that when BTC becomes too expensive for the common man that they will buy LTC. When talking about privacy, there are other options like Monero (XMR) though. Practically, LTC is in every cryptocurrency exchange and provides for high liquidity and sustains a stable pricing.
Charlie Lee having sold his LTC keep re-coming and re-doing the why factor in an average users mind. Despite all, Litecoin was never about hype. They kept doing what they were doing slowly and steadily. They are slow sometimes but looks like they ensure sustainability. Those who bought it at the most expensive time that it ever can might not be happy though.
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