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Litecoin prices: make your decisions in real time!

Litecoin is a decentralized cryptocurrency, created by Charlie Lee on October 13, 2011. Dubbed “The Silver to Bitcoin’s Gold,” Litecoin is popular in the cryptoasset world. Find out what Litecoin is and how the Litecoin price is changing.

Understanding the Litecoin price

What is Litecoin?

Litecoin is close to Bitcoin in many features, but has some fundamental differences. For example:
A “proof of work” that uses the scrypt hash function rather than SHA-256.
Four times faster block creation with an average interval of 2.5 minutes instead of 10 minutes.
A total number of units four times larger with 84 million instead of 21 million.
A mining difficulty that changes every two and a half days instead of two weeks.

Charlie Lee also found another advantage to the similarities between Bitcoin and Litecoin, especially via projects that guarantee the interoperability of the two blockchains. He gave an example on Twitter which is to use Litecoin as an intermediate network to join Bitcoin’s Lightning Network.
Litecoin is thus a popular cryptocurrency, long in the top spots of capitalizations, with several billion euros. Barring any major problems, Litecoin will certainly continue to be among the major cryptocurrencies on the market, and the Litecoin price should thus move favorably.

Litecoin (LTC) Price History

How has the Litecoin price evolved since its inception?

2014 and the Mt. Gox exchange scandal, the Litecoin price suffers and falls back to around €1 in January 2015.

After a small rise in the spring of 2015, Litecoin enters a two-year consolidation period and its price stabilizes around €3.

It is from the end of March 2017 that Litecoin begins its second bull market. It goes from €3 at the end of March 2017 to €50 in July 2017, then reaches €80 in September 2017.

In November and December 2017, Litecoin takes advantage of the cryptocurrency bubble and the price literally soars. The all-time high is set at around €371 on December 19, 2017, a 500% increase in 2 months!

In 2018, Litecoin suffers another crash like the entire cryptocurrency market and its price will fall back to a low around €25 on December 15, 2018.

In 2019, Litecoin started in a bull market and its price climbed to €145 in June 2019. It then fell back to the €50 mark in the second half of 2019. It has enjoyed a new bull market since the summer of 2020 and exceeded €200 in April 2021.

Smart contracts, a major evolution brought by Ethereum

Litecoin is one of the most correlated altcoins to Bitcoin. So it would not be surprising if it continued to follow Bitcoin’s cycles. So the odds remain high that Litecoin’s price will continue to rise over the years, until it reaches – who knows? – new all-time highs.

But beware, because the cryptocurrency market is very volatile. As a result, it is impossible to make accurate long-term predictions for Litecoin. Hence the importance of keeping a constant eye on the Litecoin price.

To understand this, just look at the Litecoin price over the past few months. The Litecoin price consolidated around the €50 mark in the first few months of 2020. With Bitcoin halving in May 2020 and the bull market returning, Litecoin rose back above €200 in 2021. Specifically, it climbed to €259 in April and then €317 on May 9.

But that was only temporary, as Litecoin’s value then largely fell back below €200 by the end of the same month (€155 on May 19), before rising again at the end of 2021 (€242 in November). These notable variations were in line with the cryptocurrency market as a whole, and in particular with the variations in the price of Bitcoin.

In 2022, the price of Litecoin fell back below €100. Since then, its price has hovered between €90 and €120 or so.

Can we imagine a substantial rise in the Litecoin price? As mentioned above, it is impossible to make detailed predictions about Litecoin. Therefore, we must remain cautious. That said, we can certainly expect a rise in 2022, but given the trends in the LTC price since 2020, it seems that this increase will be very gradual and that it will take, at best, years before the symbolic €500 threshold is reached. For that to happen, Litecoin will have to prove its strength, and especially its usefulness in an increasingly competitive ecosystem.

Conversely, there is always a risk that bad news could follow for Litecoin, which would have an effect on the crypto-currency’s price. Too long a stay below the €100 mark would, on this point, be a very bad signal to investors: the inability of LTC to regain its historical highs.

History of Litecoin (LTC)

The Litecoin price is intimately linked to its history. What is it?

Litecoin was founded by Charlie Lee in October 2011. Since then, the asset has always been among the largest capitalizations in the cryptocurrency market.

Litecoin is among the very first altcoins offered on the market. While many altcoins from the 2011-2013 period have now disappeared, Litecoin has remained on the market thanks to some minor changes compared to Bitcoin, but still useful and well thought out.

Bitcoin is often referred to as “digital gold”. Litecoin has quickly become “digital money”. It is sometimes referred to as Bitcoin’s little brother.

Litecoin’s creator, Charlie Lee, wanted to develop a faster and cheaper version of Bitcoin.

Thanks to a well-identified creator and smart marketing, Litecoin built up a nice active community by 2013 and became popular in the crypto market.

In July 2013, Charlie was recruited by Coinbase for a while, which surely helped Litecoin’s notoriety. The price skyrocketed towards the end of 2013, in line with the Litecoin price.

A few years later, in May 2017, when Litecoin was listed by Coinbase, the price began a surge to its highest levels.

From that time on, Litecoin was often used as a “test network” because of its similarities to Bitcoin. Some developers who wanted to implement new features on Bitcoin did so on Litecoin first. A practice that still exists.

The Litecoin Foundation has made some interesting decisions: it has taken a 9.9% stake in WEG Bank AG via TokenPay, a platform that offers simplified transfer solutions in “crypto-to-fiat.”

Even today, Litecoin is facilitating the testing of new projects, such as SegWit, the Lightning Network and Atomic Swaps, all of which were implemented in Litecoin before they were applied to Bitcoin. Litecoin remains a token cryptocurrency for now.

The value of Litecoin

Like other crypto-currencies, Litecoin’s price changes over time as supply and demand dictate. To find out the value of Litecoin at any given moment, you need to track the price and determine its value in relation to that of a traditional currency, for example: consider the price of Litecoin and the euro.

 

How much is a Litecoin worth?

 

To find out how much a Litecoin is worth, we must therefore observe the evolution of the Litecoin price in relation to a traditional currency like the euro. For example, at the beginning of April 2022, the Litecoin/euro rate is as follows: 1 Litecoin is exchanged for approximately €105. Therefore, you have to spend €105 to acquire a Litecoin token in that specific month.

This is especially important because you have to use traditional currencies to buy Litecoin, just as you would any other currency or financial asset. If you already own cryptocurrencies, it becomes possible to exchange them for Litecoins, so for example you can use Bitcoins or Ethereums to buy tokens at the current LTC rate.

Of course, this Litecoin value is constantly changing, up or down. It is also important to keep in mind that while there is an official Litecoin rate, each trading platform may apply variations materialized by differences of a few euros (if we take the Litecoin/euro rate).

What is the price of Litecoin in real time?

To know the value of Litecoin in real time, you need to follow the LTC price as given by a trading platform. On this page, you will find it in the top right corner in a dedicated box. Here’s how to read this Litecoin price:

  • The amount in euros indicates the price to pay to buy 1 Litecoin at the moment T. It is moving up or down: the amount is then highlighted in green or red respectively.
  • On the right is the rate of increase or decrease, with the corresponding change in euros.
  • The curve simply follows the evolution of the Litecoin price over time.
    Finally, at the bottom, you can see the lowest and highest amount reached during the day.

Do you already own a cryptoasset portfolio? Consider keeping an eye on the Litecoin price and make your decisions in real time!

Who determines the price of Litecoin?

The price of traditional currencies is dependent on banking institutions and can change according to the decisions of central banks. But this is not the case with crypto-currencies, especially those based on a decentralized finance mechanism (commonly known as “DeFi”), like Litecoin. In short, the influence of states and banking institutions does not directly affect the Litecoin price.

So who determines the price of Litecoin? The answer is very simple: it’s the market! The LTC price varies according to demand and supply: it rises when demand is high, and falls when it is low. So it’s Litecoin’s natural appeal that affects its performance, since its value depends on the number of units purchased or sold. As such, it’s interesting to know that Litecoin was designed so that a limited number of tokens can be put into circulation: 84 million (four times more than Bitcoin).

Every time you buy or sell Litecoins, you participate (infinitesimally) in the LTC price fluctuations.

What factors influence the market (and therefore the value of Litecoin)?

Of course, the market itself is subject to fluctuations depending on many factors. These will influence investors in one direction or another, namely: by pushing them to buy units or sell them. What are these factors that indirectly influence the Litecoin price?

  • The country’s legal and tax rules (themselves subject to regular and unpredictable changes).
  • The notoriety of the crypto-currency, which depends on the perception of the media and the general public.
  • The innovations introduced, which play an important role in the notoriety (for example, the fact that Litecoin is linked to the DeFi system is an advantage).
  • Market dilution (i.e. the number of new tokens created).
  • The price of Bitcoin.
  • The actual uses of Litecoin (what you can buy with it).

These are the factors to consider when understanding the Litecoin price trend… and making predictions about Litecoin!

Investing in Litecoin in 2021

Interests of the technology

Features such as average block creation time have been modified from the Bitcoin blockchain, which is supposed to solve problems of scalability, protocol evolution or transaction fees.

 

Transaction fees

Transaction fees on the Litecoin network are lower than for Bitcoin

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