Key Takeaways
- Innovative web3 developments are having a positive impact on Litecoin mining.
- Litecoin is currently ranked #23 in the crypto work with an overall market capitalization of $8.6 billion.
- Litecoin is currently trending “bullish” in the market with the Fear & Greed Index indicating “Extreme Greed”.
Litecoin, one of the top dogs of the crypto market has been the center of attention on various topics in the crypto market. This was following the bull run and the subsequent downfall of the crypto market. Litecoin is a cryptocurrency that was established in 2011 by a fork in the blockchain of the original cryptocurrency.
It was initially designed to overcome the concerns regarding Bitcoin being too centrally controlled. Since then, the LTC has undergone significant growth in the market and is currently one of the most established crypto coins in the market. In this article, we will look into the coin’s current market performance, the various factors that influence its price, and how the coin will fare in the coming days in the crypto market.
Litecoin Current Market Standing
Ranked #23 based on the current market capitalization, the coin has somewhat solidified its position in the market. The coin commenced its current bull run on the 13th of November amid the US Presidential election and Trump’s victory. At that time, the coin was trading at a price of $72.26. From there, the coin has managed to undergo a notable surge of 48.55% in the last 30 days.
The coin is currently trading at a price of $114.31 registering a slight downtrend of 8.64% in the last 24 hours. With a circulating supply of 75.28 million coins, Litecoin’s market capitalization is currently standing tall at $8.6 billion. The trading volume of the coin has also reached above $2.37 billion, which signifies a growth of above 144.94% from the previous day. If the trends in the market continue to favor the coin in the coming days, then we will most likely witness a further rise in the market value of the coin in the coming days.
Web3 Innovation And Litecoin
Litecoin has recently hit a 2-year high of $145.84 on the 5th of this month. Even though this can be stated as a significant growth for the coin, the truth is the LTC hasn’t yet achieved its full potential during the current bull run. The bull run exhibited by Litecoin has waned significantly since then. The coin which has currently registered a yearly growth rate of 45.12% 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 further in the market. 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 and upgrades are being introduced to the web3 environment, we may witness a further surge in Litecoin’s value in the coming years.
Litecoin Price Prediction: What To Expect In The Coming Years
Now that we looked into the current performance showcased by Litecoin in the market, let’s delve a little deeper into its future. For this, we have prepared a price prediction table for the LTC that shows the potential ROI and market value of the coin in the years to come. If you’re thinking about investing in the coin, kindly refer to the table given below.
| Year | Min Price | Avg Price | Max Price | Potential ROI |
| 2024 | $ 104.91 | $ 121.03 | $ 178.58 | 57.02% |
| 2025 | $ 149.92 | $ 244.19 | $ 488.98 | 329.62% |
| 2026 | $ 71.00 | $ 115.19 | $ 200.61 | 76.23% |
| 2027 | $ 90.63 | $ 116.45 | $ 151.49 | 33.06% |
| 2028 | $ 87.44 | $ 119.00 | $ 300.29 | 163.77% |
| 2029 | $ 246.96 | $ 422.64 | $ 877.80 | 670.99% |
| 2030 | $ 100.13 | $ 181.36 | $ 339.32 | 198.65% |
While referring to the table, keep in mind that the above-given prices are susceptible to changes in market trends and may vary accordingly.
Is It A Good Time To Buy The Litecoin?
With Trump about to take charge of his office on 20th January 2025, 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 103.23% and reach a value of $222.03 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 18/30 days with a price volatility of 19.77%. All of this information indicates that it is the ideal time to invest in the famous cryptocurrency. However, it would be better if you conduct thorough research on the ongoing trends in the market if you’re considering investing in Litecoin.
