Today’s Video Briefing takes another look at one of the oldest stars of cryptocurrency: Litecoin. Although this popular crypto has outlived many other digital currencies, it’s also starting to show its age. In addition to sharing many of Bitcoin’s advantages, it also has some of the same disadvantages: like scaling difficulties, and an energy-intensive mining algorithm, to name only a few.
Kiana introduces some of the key points from the latest DARE report, an investment-grade analysis on the Litecoin project, which you can read for free on Crypto Briefing’s website. Our expert analysts found a few things to watch out for in the Litecoin project, including a cutthroat market which could become dominated by more advanced blockchain projects.
But those concerns are mitigated by other factors, including the size of the development community and the extent of merchant use. It’s clear that Litecoin tech might be a falling behind, but on the adoption front it’s got a big head start.
Next, Kiana takes a look at the price charts to see where this coin’s headed next. Although Litecoin might be ready for a marathon, it won’t win any sprints: daily charts are pointed downwards, and testing multi-year supports. As always, don’t invest what you can’t lose, and don’t forget to SUBSCRIBE.