The Truth About Litecoin Difficulties We Have To Accept

Litecoin is one of the most trusted cryptocurrencies in the industry. Litecoin’s code is a similar copy of Bitcoin, so there is no controversy about it. However, trust is not necessarily associated. The fact is, in recent years, other altcoins have taken its place and made their profits as a better form of investment.

Cardano is up 10 times in the table. Chainlink and Polkadot bring more functionality and innovation to the space, and various DeFi assets have kept popping up and exploding.

As for Litecoin, its previous popularity has grown in importance in recent years, but is the same story likely to continue in the future?

2018-2021: Two periods with two peaks

Litecoin price chart| Source: Tradingview

2021 will be a great year for Litecoin, as well as most of the altcoins on the market. It rose 197%, surpassing the previous all-time high (ATH). However, the overall picture of Litecoin hasn’t changed from 3 years ago. Bitcoin along with Ethereum exceeded the ATH levels set from 2017 to 2018, they have comfortably stayed above that level after the recent crash. However, the current value of Litecoin remains the same as it was in April 2018.

One of the main reasons for this is competition in improving other properties. Chainlink, Cardano, Polkadot have appeared in the market bringing yet another cryptocurrency to the room with a clear purpose. With Litecoin it’s still the same old story, an alternative to Bitcoin, cheaper and faster than Bitcoin.

Litecoin’s ecosystem shows no significant difference or growth. And now there are basically also weaknesses.

Litecoin’s on-chain data is nondescript

Source: Intotheblock

Now if all the addresses with Litecoin are included, their returns are still over 50%, but the metrics on the chain are not impressive.

Source: Intotheblock

Source: Intotheblock

Neither the number of active addresses nor the volume of trading increased in relation to activity until this year’s breakout. It’s important to note that Bitcoin and Ethereum didn’t widen the gap between 2018 and today either, but have held higher highs in the past two years.

Litecoin is currently restoring the same high, but the recent crash has pushed it back to average exposure. There is only a sporadic interest in the asset and may consist of its old token tokens.

Github. Development data

Source: Github

Github’s development stats are also daunting. The Github repository represents the number of active projects to be developed or edited for a particular blockchain project. For some of the most important properties in the top 20, many developers are actively involved in the improvement. At Litecoin, the stats are a bit embarrassing.

“I will survive…”

That’s what Litecoin has been saying for the past few years. Its similarities to Bitcoin and its earlier introduction continue to result in high transaction volumes. Now the community is checking whether Litecoin can survive in the industry for a few more years.

Teacher

According to AMBCrypto

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