Litecoin creator Charlie Lee argued in a recent tweet that it’s difficult to dispute the worth of Litecoin. LTC is a cryptocurrency that boasts several advantages, such as low transaction fees, compatibility with Bitcoin’s protocol, similar game theoretical attack risks as Bitcoin, and its own dedicated set of ASIC miners ensuring security.
Lee also added that Litecoin has been launched fairly and has a track record of 11.5 years with no downtime.
At present, Litecoin is valued by the market at slightly above 1% of Bitcoin. While it’s debatable whether this valuation is fair or not, Lee believes that the market’s estimation is on point. However, according to Lee, Litecoin has enormous potential due to its superior design, which facilitates higher throughput compared to Bitcoin.
Additionally, the founder cited that Litecoin’s scalability is enhanced through extension blocks, which enable it to integrate new features without disrupting the existing network. Moreover, with the integration of MimbleWimble Extension Blocks (MWEB), Litecoin’s privacy and fungibility are expected to improve significantly.
Lee anticipates that Litecoin has the potential to reach an upside target of 10% (0.025 LTC/BTC) in the future. “Even in the next bull market, achieving 5% (0.0125) should not be a challenging feat.”
In his opinion, it is unlikely for Litecoin to go below the 1% mark (0.0025) on the downside. It’s also worth noting that the next halving event is set to occur in approximately 92 days, which is an exciting time for the Litecoin community.
Overall, the LTC founder believes that the future of Litecoin looks promising, and it will be intriguing to observe how it evolves in the upcoming months.
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Source: Cryptocurrency - investing.com
