Will Litecoin Keep Growing in the Long Run?

Toward the close of week 27 of the current year, Litecoin (LTC) is trading at $96.81 at the time of writing, with the recent price action leaving the token’s market capitalization at $7,059 billion USD.

LTC/USD – Daily Time Frame

Today’s price-tag represents a downside of 17% from Monday’s high of $113.31.

As of the time of this post, LTC recorded a:

- 9% decrease in price over the past 24 hours

- 13% increase in price over the past week

- 5.5% increase in price over the past month

- 37% increase in price year-to-date

- 12.9% increase in price over the past 5 years

- 220% increase in price on an all-time basis

The price history of LTC includes peaks punctuated by long periods of sideways movement.

In May 2021, LTC price recorded its all-time high of $412.96, which then witnessed a gradual decline by over 50% throughout the 6 months that followed.

Should omnipresent cryptocurrency market conditions remain on the positive side, investor and trader sentiment surrounding crypto is expected to continue to be bullish. Hence, Litecoin may be set to grow back to all-time highs; at least in the long-run given market conditions are in favor of the cryptocurrency and its fundamentals remain robust.

A BIT more about the Litecoin Project

Litecoin (LTC) is a decentralized open-source blockchain project whose code is copied from Bitcoin’s. It was created by Charlie Lee, a software engineer who had worked at Google and crypto exchange Coinbase. The Litecoin project was developed to deliver much faster transaction speeds than Bitcoin, as well as to be more scalable.