Innovations In Web3 Expected To Help Litecoin’s Rally

Litecoin, one of the top dogs of the crypto world has seen a significant surge in the past few days. With the various innovations planned in the Web3 world, it is expected that the coin’s rally will move to 2025. Litecoin is a cryptocurrency that was created in 2011 by Charles Lee, a former Google Engineer. The coin was created from the open source code of BTC but by incorporating many changes to it. In this article, we will look into the coin’s role in Web3 and how the various developments in web3 could impact the coin’s price in the market.

Main Role Of Litecoin In Web3 Environment

Web3 is a system that is based on various aspects of blockchain technology. By implementing this, the users are expected to have the power to control their own information without the need for any intermediaries. With its lightning speed and low transaction fee, Litecoin is one of the key contenders in the market.

Also, Litecoin has the capability to perform various transactions and other services directly on its blockchain. Litecoin has also integrated various technologies to improve the privacy and scalability of the network. These combined with a strong and vibrant community make Litecoin one of the ideal coins that can fully flourish on the web3 network.

Litecoin & The Web3 Innovations

Litecoin has recently hit a 2-year high of $145.84 on the 5th of this December. Even though this is huge for the coin, it hasn’t yet still reached its full potential like numerous other coins in the market. This run exhibited by the famous coin has significantly waned since then. The coin which has currently registered a yearly growth rate of 58.73% has achieved the majority of that growth in the past month.

As the coin has exhibited similar trends in the past, many are still expecting the coin to go down at any moment. The main reason behind this month’s growth can be attributed to the expanding Web3 economy. Litecoin is among the few coins that have solidified its place in the upcoming web3 revolution. As more and more developments come forth in the web3 world, we will most likely see the famous coin gain huge amounts of ground in the near future.

Litecoin Current Market Standing

Ranked #23 based on its overall market capitalization, the coin has managed to achieve significant growth in the past few days. The coin’s current bull run commenced on the 13th of this month amid the US Presidential Election and Trump’s victory. At that time, the coin was trading at a price of $73.45. From there, the coin gradually began climbing in the market and has managed to achieve a growth rate of 44.56% in the last 30 days.

The coin is currently trading at a price of $109.03 registering a downtrend of 16.06% in the last 24 hours. With a circulating supply of 75.28 million coins, Litecoin’s market capitalization is currently standing tall at $8.2 billion. The trading volume of the coin has also reached above $11.04 billion, which signifies a growth of above 7.66% from the previous day. If the trends in the market continue to favor the coin in the coming days, then we can potentially see a further increase in its value.

Is It A Good Time To Buy The LTC?

With Trump about to take charge of his office in the upcoming month, the future of many cryptocurrencies like LTC is brighter than ever. The LTC’s current market sentiment is showing a “Bullish” trend, with various experts claiming that the coin will rise by 100.47% and reach a value of $259.00 by the 2nd quarter of January.

Also, the coin’s Fear & Greed Index shows a value of 78, which is a clear indication of “Extreme Greed”. The coin has also been traded in green for the last 19/30 days with a price volatility of 20.25%. All of this information indicates that it is the ideal time to invest in the famous cryptocurrency. However, it would be in your best interest to conduct thorough research on the trends in the market before proceeding with the investment.