Disclaimer: I am a LTC bag holder since 2017. I don't intent this to be a FUD post, rather a discussion where I want to hear other people's opinions.
I noticed LTC has been slowly, but very steadily, going down the pecking order in the top 10 cryptocurrencies. Main reasons why I think so are:
- It is far away ~40% of its ATH, and has barely seen any positive price movement since this bull run started (as compared to others in the top 10).
- The critics of LTC are correct that LTC doesn't provide any feature that the other currencies don't provide. It doesn't have any such feature which another crypto doesn't have.
- It was supposed to be the "silver to BTC's gold", but even the actual silver is being considered less and less of an investment or a currency.
- Mainly it is (was?) used to transfer coins from one exchange/wallet to another because it's faster and cheaper than *Bitcoin*. But now coins like ADA and XLM provide better and faster services.
- Lastly, we have been saying that it will gain value once mimblewimble is implemented. But we already have Monero as a privacy coin, which arguably is the best privacy coin currently. And I don't think LTC is gonna beat Monero in it's own game.
I dont see much new money flowing in into LTC, as opposed to cryptos like uniswap, chainlink or polkadot. I feel once it drops from the top 10, LTC will be left behind in the dust unfortunately when the other crypto's really gather steam in this bull run.
An example would be Lisk from the last bull run of 2017. It was a good coin but it just sort of burnt out and fell off the face of the earth.
Edit:
Just wanted to make a counter-argument against myself. I just noticed that LTC still has higher 24h volume than BNB, Polkadot, Uniswap and Chain. ADA has almost the same volume than LTC, a bit higher though.
So maybe people are still using LTC.
submitted by /u/the_wijji
[link] [comments]