Decrypt Staff

Litecoin, the Bitcoin alternative developed by Charlie Lee, is up 52% this week; after hovering around the $75 mark seven days ago, the coin’s price has increased to $114.36 today.

The biggest gains for Litecoin, the fifth-largest cryptocurrency by market cap, came on Thursday, when the price jumped over 20%. Today, Litecoin rose a further 6.99%. Its market capitalization is $7.5 billion.

Litecoin observed a surge of renewed interest back in September thanks to Litebringer, a blockchain-based fantasy RPG game that allows players to trade in-game loot for Litecoin; daily transactions on the Litecoin blockchain shot up to around 165,000, though they’ve been slowly declining ever since.

Daily transactions jumped slightly on Thursday, however, from 58,000 to 71,000.

The wider crypto market continues to do well. Bitcoin increased by 26% this week, Ethereum rose by 17%, XRP by 14%, and Bitcoin Cash by 20%.

The entire market capitalization for all cryptocurrencies has risen by 3.38% over the past 24 hours.

Litecoin is still a long way off from its all-time high of $375.29, but all this green can’t hurt its prospects.

If anyone has any more synonyms for “went up,” please email us at editor@decrypt.co.

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

Charlie Lee

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<span data-sheets-value="{&quot;1&quot;:2,&quot;2&quot;:&quot;Bitcoin (BTC) is a peer-to-peer cryptocurrency, originally described in a 2008 paper by the pseudonymous Satoshi Nakamoto. Launched in January 2009, it was the world’s first cryptocurrency, and remains the most popular, with the highest market capitalization of all cryptocurrencies.\r\n\r\nBitcoin was built on several key innovations. Firstly, Nakamoto guaranteed that Bitcoin transactions were immutable, by recording all transactions on a distributed ledger known as a blockchain. Secondly, he ensured Bitcoin’s scarcity by capping the total number of Bitcoin in existence at 21 million. Finally, the community was incentivized to verify transactions by receiving rewards in the form of “mined” Bitcoin for checking the accuracy of the blockchain.\r\n&quot;}" data-sheets-userformat="{&quot;2&quot;:803,&quot;3&quot;:{&quot;1&quot;:0},&quot;4&quot;:{&quot;1&quot;:2,&quot;2&quot;:14281427},&quot;8&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;11&quot;:4,&quot;12&quot;:0}">Bitcoin (BTC) is a peer-to-peer cryptocurrency, originally described in a 2008 paper by the pseudonymous Satoshi Nakamoto. Launched in January 2009, it was the world’s first cryptocurrency, and remains the most popular, with the highest market capitalization of all cryptocurrencies.</span>

Bitcoin was built on several key innovations. Firstly, Nakamoto guaranteed that Bitcoin transactions were immutable, by recording all transactions on a distributed ledger known as a blockchain. Secondly, he ensured Bitcoin’s scarcity by capping the total number of Bitcoin in existence at 21 million. Finally, the community was incentivized to verify transactions by receiving rewards in the form of “mined” Bitcoin for checking the accuracy of the blockchain.

Bitcoin

Bitcoin (BTC) is a peer-to-peer cryptocurrency, originally described in a 2008 paper by the pseudonymous Satoshi Nakamoto. Launched in January 2009, it was the world’s first cryptocurrency, and remains the most popular, with the highest market capitalization of all cryptocurrencies.

Bitcoin was built on several key innovations. Firstly, Nakamoto guaranteed that Bitcoin transactions were immutable, by recording all transactions on a distributed ledger known as a blockchain. Secondly, he ensured Bitcoin’s scarcity by capping the total number of Bitcoin in existence at 21 million. Finally, the community was incentivized to verify transactions by receiving rewards in the form of “mined” Bitcoin for checking the accuracy of the blockchain.

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Litecoin is a cryptocurrency introduced in 2011 using similar code to Bitcoin. Its value proposition lies in its comparative ease of use and transaction time: whereas, at the time of Litecoin’s release, Bitcoin transactions required six confirmations and up to an hour to process, Litecoin billed itself as a more streamlined alternative for merchants. It is considered the first successful “alternative currency,” or altcoin.

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Litecoin



Litecoin is a cryptocurrency introduced in 2011 using similar code to Bitcoin. Its value proposition lies in its comparative ease of use and transaction time: whereas, at the time of Litecoin’s release, Bitcoin transactions required six confirmations and up to an hour to process, Litecoin billed itself as a more streamlined alternative for merchants. It is considered the first successful “alternative currency,” or altcoin.






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Litecoin, the Bitcoin alternative developed by Charlie Lee, is up 52% this week.

Litecoin Surged 52% This Week by Riding Bitcoin Boom

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