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Litecoin real-time price in USD and EUR
If you are interested in the prices of other cryptocurrencies, you will find up-to-date price information on thousands of cryptocurrencies from our site. Check out the Bitcoin price (it has also a list of all cryptocurrencies), the Ripple XRP rate, and the Ethereum rate here. If you are interested in Litecoin’s price development in recent years, keep reading. We will walk you through that in more detail next.
Litecoin price in 2017-2021
Would you like to buy Litecoin for less than $4? That was the situation in early 2017 when Litecoin’s price was just a few dollars! In the spring of 2017, things started to happen. The price moved to over $10 in April and then again to over $30 in May.
The year 2017 was a continuous and steady increase for the Litecoin price. It was helped by the general crypto market boom.
In early December 2017, Litecoin’s price already exceeded $100 and increased to an incredible $375 in just about two weeks. There was a full-blown altcoin mania going on at the beginning of December. Many cryptocurrencies multiplied their valuations in a matter of weeks.
There was also a lot of drama around Litecoin’s at the time of the ATH price. The founder Charlie Lee announced that he had sold all of his Litecoins. Lee intended to stay out of the social media and price debates regarding Litecoin, but many accused him of dumping his coins on investors at the top.
The accusations against Charlie Lee increased, as the value of Litecoin collapsed fast In early 2018, the cryptocurrency bubble burst. Litecoin eventually kept its value better than many other altcoins. The majority of the market fell by 95% or even by 99% by the end of December 2018. Litecoin’s price base was set to around $22.
The year 2019 was an excellent one for Litecoin. Its price rose significantly more than its competitors, partly due to Litecoin’s halving in the autumn of 2019. The price nearly quintupled in the spring of 2019 from $30 to almost $150. Eventually, Litecoin’s halving rally froze, and the price fell in the fall of 2019, just like any others in the crypto market.
Litecoin’s price rose close to $85 before collapsing in March 2020, when the COVID crisis caused a sharp decline in all the world’s markets. At the time, the LTC price fell to about $32, from which it quickly recovered to a fair rise of 50%. Litecoin’s price has been fluctuating since the summer of 2018, mainly in the $30-50 range.
The cryptocurrency market started a general upturn driven by Bitcoin in late 2020. By 2021, Litecoin and other altcoins started raising even faster than Bitcoin. In just a few months Litecoin multiplied its market cap. Litecoin’s ATH was seen in early May 2021, when the value of the currency was close to $400.
After peaks and a rapid rise, the cryptocurrency market saw a collapse as usual, which also saw Litecoin’s value drop to less than half of its all-time high value. The value of Litecoin in summer 2021 has been sawing in place, waiting for a change one way or the other.
Basic information about Litecoin
Litecoin is one of the oldest cryptocurrencies on the market that are still doing well. It is significantly older than any other top 10 altcoin Litecoin’s history dates back to 2011, just two years after Bitcoin’s whitepaper was published. The 10th Anniversary – a scarce occasion in the world of cryptocurrencies – will soon be celebrated!
The founder of Litecoin is Charlie Lee, who became one of the most famous crypto people in 2017. That was partly due to the drama described above when Lee sold all his Litecoins. He is still the Chairman of Litecoin and plays an integral part in its development. Lee is also on the Board of the Litecoin Foundation.
Litecoin was founded in 2011 to be a lighter and faster version of Bitcoin. This is also indicated by its name: “Light Coin” or Litecoin. It is no coincidence that there are precisely four times more litecoins created than bitcoins (21 * 4 = 84 million). The block time is also four times faster (10/4 = 2.5 minutes). Litecoin transactions are also very cheap. It can be said that the currency has succeeded well in reaching its goal.
Since there are four times more litecoins than bitcoins, it also has a clear impact on the unit price. Based on this, some think the Litecoin price should be about one-fourth of Bitcoin.
Another reason for founding Litecoin was the desire to create a different mining algorithm. So-called ASIC equipment began to take over Bitcoin mining at an early stage. A different mining algorithm was designed for Litecoin, so its mining was also profitable with traditional equipment. Today, Litecoin ASIC miners have also entered the market.
Litecoin aims to also add private features. This may be necessary as its original idea has a lot of competition. In 2020, Litecoin was no longer fast and cheap compared to Bitcoin. You can find much faster cryptocurrencies on the market that are practically free to transact with. Litecoin’s toughest rival in the race among traditional currencies is definitely Bitcoin Cash.
However, Litecoin’s price has held its ground in the fierce competition. It has had to give up a bit at the sharpest cryptocurrency tip, but Litecoin is still firmly holding its ranking in the cryptocurrency Top 10.