Litecoin (LTC) price – EUR & USD

Litecoin (LTC) price has historically fluctuated between $1.11 (January 14, 2015) and $412.96 (May 10, 2021). Litecoin is a decentralized digital currency that operates on a peer-to-peer network and utilizes blockchain technology to facilitate secure and transparent transactions. The value of Litecoin is primarily determined by factors such as supply and demand dynamics, market adoption, utility, investor sentiment, and overall perception of its worth. The future of Litecoin looks less bright than it did five years ago.

Litecoin (LTC) price history

Litecoin (LTC) price has historically fluctuated between $1.11 (January 14, 2015) and $412.96 (May 10, 2021). Litecoin’s price history starts in May 2023. This information is based on data from Coinmarketcap.

The Litecoin price history is quite an interesting tale. Litecoin’s long history makes it one of the most famous coins on the market right after Bitcoin. Litecoin’s ticker on crypto exchanges is LTC.

The Litecoin price history is available from all the way to the year 2013. At that time, its exchange price was just over three dollars. The Litecoin dollar price reached its first real peak in the wake of Bitcoin in early 2013. At that time, Litecoin’s price went up to 40 dollars.

This was the start of a long and difficult period, as the Litecoin price fell back to three dollars in 2014. The price was below four dollars even at the beginning of 2017!

In the spring of 2017, things started to happen, as the price of Litecoin rose above 10 dollars in April. in May 2017 the LTC price moved to over 30 dollars. The year 2017 was a continuous and steady rise for Litecoin. This was due to the general bull market of the entire crypto industry at the time.

At the beginning of December 2017, Litecoin’s price broke 100 dollars and rose incredibly to 360 dollars in just two weeks. The beginning of December 2017 was a wild one for many cryptocurrencies. There were dozens of coins that went up hundreds of percent in a very short time.

The graphic below shows the Litecoin historical price.

litecoin price

At the beginning of 2018, the crypto market bubble burst. It must be said though, that Litecoin held its value much better than its competitors. Most coins dropped 95% or even 99% by the end of December 2018. Litecoin’s lowest price was about 22 dollars.

The year 2019 was an excellent one for Litecoin. The price of LTC rose significantly more than its competitors, which was partly due to the Litecoin halving that took place in the fall of 2019. The price almost quintupled in the spring of 2019 from around $30 to almost $150.

The crypto rally of 2021 also pushed Litecoin price up to new ATH! On May 10, 2021, the Litecoin price broke 400 dollars. Since then, Litecoin has been more or less in a downward spiral, although the price was briefly at $280 at the end of 2021.

What is Litecoin?

Litecoin is a decentralized digital currency that operates on a peer-to-peer network and utilizes blockchain technology to facilitate secure and transparent transactions. Litecoin was created by Charlie Lee, a former Google engineer, and released in October 2011.

Litecoin is often referred to as an alternative or “lite” version of Bitcoin, as it shares many similarities with Bitcoin in terms of its underlying technology and principles. However, Litecoin has a few key differences that set it apart. One notable distinction is the faster block generation time, which allows transactions to be confirmed more quickly compared to Bitcoin. Litecoin’s block time is approximately 2.5 minutes, while Bitcoin’s block time is around 10 minutes.

Another difference is the hashing algorithm used by Litecoin. While Bitcoin uses the SHA-256 algorithm, Litecoin uses a different algorithm called Scrypt. Scrypt was specifically designed to be more memory-intensive, which helps to deter the use of specialized hardware (ASICs) for mining. This was done to promote a more decentralized mining ecosystem and allow a broader range of individuals to participate in the mining process using consumer-grade hardware.

Litecoin also has a different total supply compared to Bitcoin. Bitcoin has a maximum supply of 21 million coins, while Litecoin has a maximum supply of 84 million coins. This higher supply of Litecoin theoretically allows for more widespread distribution and affordability.

Read more about Litecoin from our in-depth guide: What Is Litecoin?

What gives Litecoin its value?

The value of Litecoin is primarily determined by factors such as supply and demand dynamics, market adoption, utility, investor sentiment, and overall perception of its worth. Here are some key factors that contribute to the value of Litecoin:

  1. Scarcity: Litecoin has a maximum supply of 84 million coins, which is four times greater than Bitcoin’s maximum supply of 21 million coins. The finite supply creates scarcity and can increase the perceived value of Litecoin as demand grows over time.
  2. Utility and Functionality: Litecoin is designed to be a decentralized digital currency that can be used for various transactions, both online and offline. Its utility as a medium of exchange and store of value contributes to its value. The faster block generation time of Litecoin compared to Bitcoin allows for quicker confirmation of transactions, making it attractive for those seeking faster transaction speeds.
  3. Market Acceptance and Adoption: The wider the acceptance and adoption of Litecoin by merchants, businesses, and individuals, the more valuable it becomes. As more entities accept Litecoin as a form of payment, its utility and demand increase, potentially leading to higher value.
  4. Investor Sentiment: Investor confidence, market speculation, and sentiment also play a role in determining the value of Litecoin. Positive news, technological advancements, regulatory developments, or increased public interest in cryptocurrencies can drive demand and positively affect its value.

It’s important to note that the cryptocurrency market is highly volatile, and the value of Litecoin can fluctuate significantly in short periods. Factors such as market trends, economic conditions, regulatory changes, and competition from other cryptocurrencies can also impact its value.

If you are interested in buying Litecoin, read this beginner’s guide: How To Buy Litecoin? It gives you step-by-step instructions on acquiring LTC.

The future of Litecoin

The future of Litecoin looks less bright than it did five years ago. Even if some analysts will disagree, the fact is, that the market development has not been favorable for Litecoin in recent years.

Litecoin has been one of the top 10 currencies of the crypto market for most of its history. However, its position has weakened year by year in the 2020s. This is despite the fact that the price of Litecoin rose to new ATH in the summer of 2021. However, the prices of other currencies rose as well. Most saw far better gains than Litecoin.

LTC is currently 15th in the crypto ranking. The Litecoin price has also fallen downward with the bear market of 2022. Founder Charlie Lee has mostly disappeared from the public eye, and Litecoin is not featured much on social media. What is causing this?

Litecoin was at the height of its popularity before the revolution of smart contract platforms. This means Ethereum, Cardano, Solana, etc. Smart contract platforms and the DeFi applications built on them have become hugely popular in recent years.

There is nothing wrong with Litecoin, but it doesn’t have the same advantage as it used to as a low-cost transaction provider. Litecoin is just a currency. As long as cryptos are not widely used for payment, the future of Litecoin is a mystery. In addition to this, the coin has its own limitations from the technology side.

The future of Litecoin does not look particularly bright. The MimbleWimble update released in the summer of 2022 brings much-needed privacy features. However, this has caused some exchanges to drop Litecoin from their offerings due to regulatory concerns.

Litecoin was born already in 2011. At that time, only Proof of Work was used, i.e. a consensus algorithm that required mining. The crypto market is now dominated by Proof of Stake cryptocurrencies. They offer faster and cheaper transactions than Litecoin. This has eaten into the popularity of Litecoin.