Now that Litecoin's got your attention, let's dive into what's really happening. 👇
Litecoin has been referred to as the 'original altcoin', having been launched in 2011 and having built a massive die-hard community.
It's known as the 'silver' to Bitcoin's 'gold' and is known as one of the most time-tested and OG cryptocurrencies.
A lot of people in crypto today weren't around from 2011-2017, but during that time, Litecoin was massive.
It was everywhere and most people owned at least some of it.
Litecoin had a massive price increase, rising around 1,400x from 2011 up to its all-time-highs, which were reached in 2017 and 2021, respectively.
And then, a cooling period began. Litecoin's price began to massively fluctuate between the wide range of previous all-time-high's and previous lows.
In a space where random narratives and flash-in-the-pan trades spring to life every other day, Litecoin's consolidation has been seen as boring by many market participants.
However, underneath this price action consolidation, litecoin's usage has continued growing.
On chain metrics have continued to show rising active addresses, transactions, sent in USD, hash rate, etc. cycle-after-cycle, even approaching those of Bitcoin.
Not to mention, Litecoin made a massive upgrade, MWEB, which provides scalable opt-in privacy for everyday usage.
The industry is moving towards privacy and Litecoin is primed, especially considering it's one of the most used currencies for transactions.
In a sector where people are increasingly seeking reliability and trustworthiness, I'm confident that Litecoin will re-emerge once the dust continues to settle.