- After Kusama made fun of LTC, Litecoin replied by saying LTC should be number one.
- LTC, previously one of the top three cryptocurrencies, has fallen to 20th place on CMC.
One of the Shiba Inu (SHIB) project’s primary developers, Shytoshi Kusama, has asked Bloomberg Business to discontinue using Litecoin (LTC) as the third cryptocurrency option after Bitcoin (BTC) and Ethereum (ETH). After Kusama made fun of LTC, Litecoin replied by saying LTC should be number one.
In the early days of cryptocurrency, it was certainly like that, but today LTC is dubbed a dead coin by a few industry experts. Litecoin, previously one of the top three cryptocurrencies, has fallen to 20th place on CMC’s list of most valuable cryptocurrencies, with a market valuation of $3.9 billion.
Lost in the Herd Despite Potential
Litecoin’s network and its LTC currency have always had very low demand and interest, according to several crypto specialists. Litecoin, despite its ongoing development, frequent conferences, and mining activity, has never been able to break out of the shadow of its more successful rivals. Using social media and a worldwide buzz, SHIB, DOGE, or SOL have easily eclipsed LTC in the last few years.
Litecoin, on the other hand, is virtually the only blockchain that has never ceased functioning, unlike the same Solana (SOL). Even though it was a success, Litecoin was delisted from major South Korean exchanges due to its MimbleWimble extension, which made it more private by masking the sender’s identity and token count.
Litecoin’s estimated market cap of $3.9 billion may seem modest for such a well-established crypto project as LTC. Still, the project’s developers must do something about the market’s interest and demand if LTC is to escape its project status.
According to CMC, the Litecoin price today is $54.87 USD, with a 24-hour trading volume of $576,368,314 USD. Litecoin has been up 1.10% in the last 24 hours.
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