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The litecoin has made considerable gains in recent months. Since the beginning of the year, Litecoin has grown more than 100%, from $ 30.35 on January 1 to $ 62.77 on March 17, as shown by the CoinMarketCap data. The jump has led many people to describe it as the coin of the year so far, but some are not as impressed.
One of these detractors is Mike Novogratz, a crypto merchant, who is at the helm of the Galaxy Digital encryption bank. In a tweet, the billionaire questioned the real value of Litecoin in these terms:
"Litecoin is a glorified test net for BTC. I do not receive this gathering. Sell LTC [and] buy BTC. "
Gold has a market capitalization of 8.5 billion dollars. The money is $ 15 billion, or 0.17%. $ BTC has a ceiling of 90 billion dollars. $ ltc $ 5.7 billion or 6.4% of the $ BTC. Money is at least useful for industrial production. $ ltc is a glorified test net for $ btc. I do not receive this gathering. To sell $ ltc buy $ btc.
– Michael Novogratz (@novogratz) April 3, 2019
According to CCN, the former Fortress hedge fund manager leveraged Litecoin's reputation for digital silver in bitcoin gold, comparing the size of the respective precious metals and crypto markets. While the market capitalization of silver is only a fraction of that of gold, the value of Litecoin is more than 6% of that of Bitcoin.
Other voices in the cryptographic space, such as the eToro Senior Analyst, Mati Greenspan, have highlighted the merits of Litecoin. In a tweet, he said:
"LTC is literally silver to Bitcoin gold. This is much more useful for transactions because it is cheaper and faster than BTC. "
Litecoin has often been considered the future of cryptographic adoption because of its high transaction speed, which would be more suitable for consumer adoption and for use by consumers. tradespeople.
Litecoin is also looking for a missing feature in Bitcoin and its fungibility, which will make LTC units interchangeable. The Litecoin Foundation's partnership with the Beam privacy solution is expected to lead to confidential transactions for LTC in 2019.
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