The founder of Litecoin, Charlie Lee has recently published in his Twitter information about what the quantity of daily transactions in the currency compared to the market capitalization.
Also the comparison of this indicator with other top cryptocurrencies.
Over $12B worth of LTC has been sent in the last 24hr. That’s almost 95% of its marketcap. See how this stacks up against the other coins. Litecoin IS the coin payments!https://t.co/oyU0PzHSdR pic.twitter.com/rsndJahaKF— Charlie Lee [LTC] (@SatoshiLite) January 5, 2018
At the time of publication of tweets the volume of transactions amounted to 95% of the capitalization. And it is an unprecedented rate.
Over the past 24 hours using Litecoin was made payments totaling about $ 3 billion. It’s about 23% of the market capitalization. And even with such figures Litecoin is much higher than other top cryptocurrencies. (Source: https://bitinfocharts.com/).
Why is it important?
Litecoin seeks to become a “medium of exchange” in the digital world. His ultimate goal is to complement if not completely replace slower and more expensive cryptocurrency bitcoin. However, to achieve this, the price of LTC needs to stabilize, to become more predictable.
See also – Prediction: what will happen to the price of Litecoin in 2018?
That is why Lee insists on the fact that investors should care more about the number of transactions using Litecoin, what about the price for it.
People should actually start using Litecoin. And the price potyanetsya.
The bitter truth about cryptocurrencies is that they are a very volatile investment. Because of their very unstable prices difficult to predict their next move. Therefore, you must have nerves of steel to withstand their dizzying UPS and downs.
For example, in the last five days of Litecoin dropped to $ 229, and then rose above 300. These price fluctuations seem strange in the traditional investment markets like the stock market, for example, but the cryptocurrency world is business as usual.
Litecoin is slowly but surely moving in the right direction. The Charlie’s dream that Litecoin will become a normal means of payment is gradually approaching realization. We are optimistic in the forecast of the price of Litecoin in 2018, and we believe that it will reach the level of 400.00 USD.