Litecoin is feeling the love today, which is ironically Valentine’s day.
It’s up nearly 30% today and is by far the best performing crypto in the top 10. Plus, it passed Cardano to reclaim the #5 spot.
Let’s find out what’s going on.
Litecoin (LTC) is one I last wrote about in early July here and here. At the time LTC traded in the $40 to $50 range. And we got to a high of around $372 in December.
Since then Litecoin has sold off with the rest of the crypto market. It bottomed out around $110 and trades near $200 as of this writing.
The biggest news right now is that a group of developers may fork Litecoin to form Litecoin Cash.
According to the Litecoin Cash website it will fork at block 1371111, and for every 1 LTC you own you’ll be able to claim 10 LCC.
The benefit of LCC according to the website is that it will use SHA256 mining, which will enable previously obsolete Bitcoin mining hardware to be used.
Per Litecoin Cash it will also have lower transaction fees and a better difficulty adjustment (using Dash’s DarkGravity algorithm) compared to Litecoin.
According to Litecoin founder Charlie Lee it’s a ‘scam’ meant to confuse LTC owners.
I’m not so sure about these forks. I still like the original LTC. It continues to develop the protocol and recently partnered with Aliant Payment Systems so you can make every day payments in LTC.
What about you, which do you prefer, LTC or LCC?
and trade cryptos on Binance