One of many largest disadvantages of Litecoin is its lack of demand, when in comparison with different altcoins available in the market. On the identical time, one in every of its largest benefits additionally occurs to be the shortage of demand. That, in a bizarre method, is price a milestone in itself.
None in anyway
Litecoin hasn’t reported any downtime. Ever. Working for ten years with 100% uptime, Litecoin is now one of many longest-running cryptocurrency networks on the planet.
Understandably, the silver to Bitcoin’s gold blew up on social media channels on the again of its achievement. In reality, its mentions elevated by 4,620% inside a matter of hours as we speak.
That is the rationale its lack of demand is a bonus because the fee of improvement on the blockchain is suitable to its utilization.
When both of the 2 components exceeds or falls again, the community faces some type of outage or downtime.
Nevertheless, it isn’t in order that LTC has no demand in any respect. As one of many world’s hottest cryptos for funds, the altcoin is broadly accepted. Only in the near past, for example, it added Swiss luxurious watchmaker Breitling to its record.
Value mentioning, nonetheless, that these developments have meant zilch for LTC’s worth. The altcoin remains to be caught in a downtrend, shedding greater than 15% of its worth this week. Buying and selling at $49 at press time, the crypto slipped again into the bearish zone, having barely escaped it after being caught in it for nearly three months.
In the intervening time, aside from utility, LTC isn’t of a lot use for traders because it isn’t bringing a lot revenue to its holders. The return on funding during the last 12 months has declined considerably, with the identical within the negatives proper now.
Moreover, just a few hundred thousand traders out of the thousands and thousands that personal LTC are nonetheless in revenue. These traders purchased their provide at a worth decrease than the alt’s present buying and selling worth. These traders make up simply 13% of all LTC holders.
Provided that Litecoin’s market worth can be at its lowest in eternally, it wouldn’t be shocking if new traders chorus from placing their cash into the asset. Even so, LTC’s present neighborhood will proceed supporting it regardless.