On Monday (2 January 2023), Bill Barhydt, CEO of crypto borrowing, lending, and trading platform Abra, explained why he believes that Litecoin ($LTC) is important.
“Litecoin is the only decentralized p2p payment system with 10 years of uninterrupted uptime. (#Bitcoin will get there in 2023.).. I use Bitcoin to store wealth and prefer Litecoin to do p2p via crypto when possible… Litecoin is important for a few reasons imo…. They test new technologies and system settings faster than Bitcoin… mimble wimble, block timing, different hashing algo…. Etc. This helps Bitcoin imo. In any case it’s still just software. Use it or don’t.“
In 2022, the Litecoin Network completed over 39 million transactions; also, apparently, 52 million new addresses were added to the network (which is “the second most of any crypto”):
Here is what some popular crypto analysts are saying about the price action of $LTC (trading around $76 as of 3 January 2023):
It is important to note that Litecoin will have its next (i.e. third) halving around August 2023.
Featured Image via Pixabay