Our list of what is the best cryptocurrency to invest in 2021 cannot be complete without Litecoin. Just like Ripple, Litecoin showed great performance in 2017 with a growth of almost 8000%.
The price of Litecoin grew from around $4 at the beginning of 2017 to a high of $358 in December 2017. However, just like most cryptocurrencies, Litecoin also followed the price trend and dropped to $110 in February 2018.
Take a look at Litecoin’s price chart below — you can see the quick rise in the price of Litecoin at the beginning of 2018. The price of both Litecoin and Bitcoin has followed a similar trend over the last year.
Litecoin is the 5th largest cryptocurrency with a market cap of around $11 billion. Litecoin continues to interest investors because of its close connection to Bitcoin, thus providing a good reason for Litecoin to be on our list for the next cryptocurrency to invest in 2021.
Litecoin was created in 2011 to improve upon Bitcoin’s technology. Litecoin completes a transaction 4 times faster than Bitcoin. However, unlike Bitcoin, the maximum number of Litecoin is capped at 84 million — 4 times more than the coin supply of Bitcoin (21 million).
Litecoin was the first cryptocurrency to perform a Lightning Network transaction in May 2017. Using the Lightning Network, 0.00000001 Litecoin was transferred from Zurich to San Francisco in under one second! Once Litecoin starts using the Lightning Network, it could increase the price of the Litecoin!
| Lightning Network: A new technology that increases the speed of transactions on the blockchain network. |
