Mike Novogratz expresses dislike of LTC but is optimistic about SOL and LUNA

Billionaire founder of Galaxy Digital, Mike Novogratz, has openly expressed his dislike of LTC on CNBC.

Chat with host Joe Kernen, Mike did discussion on the steps the Fed (Federal Reserve) is taking on the macro landscape that will take place in 2022. In that note, Novogratz spoke of a “major crypto introduction cycle” that he believes will keep the current pricing form.

“You see this adoption cycle moving fast. $ 30 billion in venture capital is already flowing into space. ”

Although cryptocurrencies are currently performing in a volatile macro environment, he concluded that the asset “could still do well”.

However, when it comes to spreads among the best digital assets, Novogratz said LTC cannot guarantee the level of exposure.

What does Novogratz say about LTC?

When switching to CNBC’s crypto ticker table with Bitcoin, ETH, LTC, XRP and DOGE has cores questions Ex-fund manager have you changed coins?

Novogratz highlighted LTC for its lack of community engagement and pointed to the poor level of technological innovation.

“It’s weird to me that LTC comes out on top of every coin, you know … Litecoin is not everyone’s playground, it’s not the technology …”.

When asked which coins should be on the board in this position, Novogratz suggested Solana or Terra. The reason for this is that both projects are enthusiastically received by the community and are also going through many innovative developments.

“SOL, LUNA are cryptocurrencies that are attracting interest from a growing community. And what we pay attention to, what is the foundation on which everything is built, where is innovation, what is development? And that’s why I want SOL and LUNA there. ”

How is MimbleWimble developing?

At the beginning of 2021, LTC ranks 4th on CoinMarketCap, while SOL ranks 112th and LUNA ranks 62nd.

Over a period of 12 months, SOL is currently in 5th place, LUNA in 9th place, while LTC is on the verge of falling out of the top 20.

In the course of 2021, discussions about the data protection integration of Litecoin MimbleWimble will come to the fore. While history has pushed the rollout, the integration wasn’t ready for release.

Latest update from developer David Burkett on March 12th shows The project is still in the debugging phase.

However a report The latest news from Kraken paints a positive picture for LTC in early 2022. Researchers say that on-chain activity of “digital silver” is starting to pick up and this could lead to a “surge in growth”.

They also show a steady increase in the number of active addresses, reaching 10/10. an all-time high of 606,703. Also, the last time such a setup occurred, LTC went into pricing mode.

LTC 4 Hour Price Chart | Source: Tradingview

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