Litecoin Appears In The “2022’s Top 5 Altcoins” List By The Evening Standard

Litecoin (LTC), often seen as an underdog compared to other competitors, performed commendably as it entered the top 5 altcoins ranked by the Evening Standard.

Through this ranking, we can see the stable performance of this alt in the context of a down market which adds more value to the blockchain.

The listing mentioned several cryptocurrencies by 2022 that could be seen as alternatives to the king of crypto, Bitcoin (BTC). These altcoins can be considered for investment purposes or can be a choice for portfolio diversification.

Aside from Litecoin, other cryptocurrencies that made the list include Ethereum (ETH), Cardano (ADA), Solana (SOL), Bitcoin Cash (BCH) and Dogecoin (DOGE), which is the only meme on the list.

Ether is of course the altcoin that ranks first with the dominance of the rest of the crypto market, followed by Bitcoin Cash, also known as the fork version of Bitcoin. Litecoin ranked 3rd showing its potential to surpass both Solana and the memecoin.

Litecoin, like Bitcoin, employs a proof-of-work consensus method, which means that new coins are coined to compensate miners for processing transactions on the blockchain. On the other hand, LTC’s newer Scrypt algorithm makes transactions faster than BTC.

At the time of writing, LTC is trading at $60.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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