Litecoin ranked ‘Excellent’ in Adoption and Investment Return
- Litecoin ranked highly by the respected Weiss Ratings.
- The Litecoin Foundation has valuable partnerships and new goals ahead.
Charlie Lee delivering the keynote speech at the first annual Litecoin Summit.
Litecoin (LTC) has recently been rated as ‘excellent’ in adoption and ROI by the American provider of investment data Weiss Ratings.
While being classified at the highest level in terms of investment rewards and adoption, LTC’s investment risk factor is classified as “fair”, which can be traced in their risk to reward grade, which is B-.
And while LTC is ranking good according to Weiss, EOS is being downgraded due to “serious problems” with centralization. Litecoin started as an open-source project in 2011 and, at the moment, is the fourth biggest cryptocurrency by market capitalization. Their initial goal was to provide a cheaper and faster alternative to Bitcoin and LTC traded around $4.30 until the crypto rush in December 2017.
Last year Litecoin’s price was quite volatile, ranging from $23.32 in December 2018, to $141.6 in June 2018. At the moment LTC’s daily trading volume is approximately $4.6 billion with a global market cap of $7.4 billion.
A recent project from the Litecoin Foundation is the cryptocurrency debit card “BlockCard”, a result of the partnership with Bibox and the blockchain firm Ternio. The card will allow users to pay at online and physical stores directly with their cryptocurrency funds.
Another project from this year (February) is the partnership between the Foundation and the software company Beam, seeking the implementation of a new protocol that should boost scalability and privacy. Charlie Lee, Litecoin’s founder, took part in the announcement by tweeting:
The Litecoin project and its LTC cryptocurrency have performed very well during the bear market and in the recovery we have seen thus far. What started as a simple copy-paste (more or less) of Bitcoin has flourished into a very respectable and prosperous project.
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