Litecoin is the 2nd oldest cryptocurrency behind Bitcoin but hasn’t done much over the long run compared to Bitcoin.
While I hold the majority of my crypto holdings in Bitcoin, I have a small LTC position just in case the fledging altcoin makes a comeback. However, many crypto investors believe Litecoin is dead and will never make a comeback.
Is Litecoin Dead?
Litecoin peaked at nearly $400 during 2 separate bull runs in 2017 and 2021. It’s possible that LTC could make a comeback if the crypto bear market recovers and returns to previous 2021 crypto highs.
I don’t believe Litecoin is “dead” but realize it’s ridiculous to prioritize Litecoin over Bitcoin or Ethereum. The truth is that Litecoin is nothing more than a fork of Bitcoin that has 4x the total max supply.
When Litecoin founder Charlie Lee created Litecoin, he wanted a faster version of Bitcoin that processed transactions at a greater speed. The problem is that Bitcoin’s lightning network can perform transactions within seconds for an extremely low fee. That makes Litecoin less useful moving forward in my opinion.
I don’t think Litecoin is dead but the oldest altcoin may have already seen its best days. It would e epic to see LTC return to its previous $400 during the next crypto bull run. I’m still HODLing a small LTC position just in case.