Litecoin (LTC) has survived 2018, but 2019 will be even more difficult

Ilir Gashi, community manager of the Litecoin Foundation, has published
an interesting summary of the Litecoin events that have emerged throughout the year
2018. In a year that has hit the cryptocurrency markets hard,
Litecoin has suffered quite well as well. However, Gashi remains adamant
that Litecoin was simply a victim of a low and even suggested market sentiment
that the media and their "misinformed cover" had their hands in Litecoin
underperforming in terms of price.

2018 was "important" for Litecoin in terms of adoption as the number of traders, traders and businesses that make Litecoin payments has grown significantly. Litecoin's network infrastructure also saw an exponential growth, as the currency currently dominates the Scrypt mining segment with over 95% of its total share.

Stressing that Litecoin remains one of the safest cryptocurrencies, heavily traded on the market, Gashi lists several salient points that have marked the year 2018 for the currency. Support for Coinbase Commerce, Lightning Network Beta, plans for the integration of Smart Contract, $ 99M in Litecoin negotiated at only $ 0.40 in fees, Wirex / Abra / NASDAQ announcing the support of Litecoin, Litecoin Foundation which acquires 9.9% of a German WEG bank, Bittrex announcing Litecoin USD pairs, Litecoin Summit 2018, HTC Exodus cooperation, The Flappening and Litecoin Foundation which sponsors UFC 232 were just some of the highest points of this cryptocurrency experienced during the year. ;last year.

Gashi reiterated that the focus on 2019 remains a greater adoption, with the aim of further developing the Lightning network on Litecoin by incorporating Atomic Swaps and the characteristics of privacy in the currency. The remittance, loan and microfinance options will be discussed with the WEG Bank and the merchant network will be distributed worldwide in sectors such as sports, media, fashion and entertainment.

LTC and its gloomy future

Litecoin has existed since 2011. The market has been swept by new altcoins (shitcoin?) Over the past two years, which have seen Litecoin's decline in media coverage and in the buyer's attention.

Once the second largest cryptocurrency, Litecoin was pushed by new projects one at a time to its current seventh position in the ranking of crypto coins by their respective market ceilings.

The most important thing for Litecoin in 2019 is to stay away from being classified as another shitcoin. Essentially, staying relevant is the number one goal for Charlie Lee and the team behind LTC.

Ever since Lee sold his coins around the price spike, he has lost some credibility among cryptography enthusiasts and, even though Charlie vehemently denies, that event caused considerable damage to Litecoin's reputation. The famous motto of "skin in the game" has been violated by this sale and many holders have followed the example because they do not want to hold coins of a project whose founder is perceived as lacking in confidence in his success.

With Coinbase adding more altcoins each passing month, the main price driver of LTC has declined as the buyer's attention is diluted with new bright coins he can buy (ETC, BAT, ZRX etc.).

Other coins with similar use cases are bringing at least something unique to the table: NANO is faster and free of costs, XMR, ZEC, DASH are fungible and private, XRP and XLM are fast and have strong companies behind them , DCR has governance model innovations, etc.

Litecoin will be happy to be alive at the end of 2019.

Not much happens on the LTC blockchain

It is the standard state of Litecoin to sit back and wait for bitcoin developers to push new updates so that LTC can take them to their blockchain. I am still puzzled about what the point of this project is. In addition, LTC shows almost no activity on its chain expressed through precious on-chain metrics such as the number of on-chain transactions, active addresses, block size, NVT ratio etc. As we wrote earlier this week, the voices about the insensitive existence of the LTC are becoming stronger, noting the same thing I mentioned above.

"A good time to remind you $ LTC it's completely useless. Chain transactions are a joke. The last 5 blocks are all smaller than 30kb, the network is completely empty. It is not used for payments, it is not used at all. "

This was a reaction to the news that Coinbase has moved about $ 5 billion worth of cryptographic tokens as part of their system upgrade. As Frank Chaparo of The Block reported,

"The $ 5 billion represents 5% of all bitcoins, 8% of the total supply of ether and 25% of all litecoin".

Do you know what Litecoin Cash is?

This news was commented on by Jackson Palmer, founder of Dogecoin and well-known cryptographic commentator, while asking if people who left their private keys in centralized central units defeated the fundamental principle of cryptocurrencies.