Litecoin (LTC) Cryptocurrency: Is It A Buy Right Now?

Last Updated March 28th 2022

4 Min Read

Whether to buy Litecoin crypto often boils down to how an investor views fundamental trends. The most important one is the rise in corporates using the LTC payment system and the other one is the trend of the overall crypto market.

Thanks to advanced blockchain technology, the crypto market is flooded with several new innovative projects and coins today. But there are still some cryptocurrencies that have maintained their position in the market for a more extended period, and Litecoin (LTC) is one of them. It is one of the most popular and pure forks of Bitcoin and is considered the silver to Bitcoin’s gold.

But the current market downturn has left investors wondering if LTC is still a buy, hold, or sell now? Let‘s see.

A Market-Beating Cryptocurrency — But For How Much Longer?

Thanks to its growing popularity Litecoin has become a staple in many crypto portfolios.

Litecoin has been in the market since 2011 and has maintained a consistent rally with other high-capped tokens over the years. LTC was created to provide a faster, secure, and low-cost payment system by leveraging the benefits of blockchain technology. Unlike Bitcoin, which uses an SHA-256 algorithm, Litecoin employs a new energy-efficient and scalable algorithm known as Scrypt.

Liquidity is a vital factor for any cryptocurrency. Litecoin is one of the most liquid coins available in the market today. It has been the centre stage of all crypto transactions and propagated a better payment system. It can be seamlessly used for purchasing goods in everyday transactions. LTC has also been accepted as a viable method of payment by several institutions over the past few years.

Clearly, LTC is more appealing to investors for its practical use. The token has also partnered with numerous organizations and projects, making LTC a strong investment option for long-term investors.

Don't Miss: How To Make (Or Lose) Money With Litecoin

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

The Road Ahead For Litecoin

Thanks to Litecoin's vast adoption, long-term investors who believe in the future of Litecoin intend to hold LTC for future returns.

Litecoin has an excellent development team that helps the project with future prospects. The main developer was an engineer at Google and Coinbase. Litecoin is adaptable to technological advancements to sustain its presence in the market. It has gained a strong footing in the hypercompetitive cryptocurrency ecosystem today, which is why LTC could be a profitable long-term investment option.

LTC’s Growing Adoption Rates

Thanks to LTC’s vital signs of stability, investors have taken a steady interest in Litecoin. As a result, over 3111 merchants have accepted Litecoin as a form of payment. This rapid adoption makes Litecoin one of the best cryptocurrencies with real-world use cases to buy now.

Mainstream Partnerships Of Litecoin

Litecoin has collaborated with numerous companies and is tagged as the most collaborative cryptocurrency, adding to the reasons to buy LTC now. Partnerships are a major driver of mass adoption. Litecoin has lately partnered with organizations across verticals like Travala, and second-layer scalability solutions like Lightning Network (LN), Atomic Swaps, and Colored Coins. The crypto has also added Mimblewimble, a blockchain design for storing and structuring transactions to leverage more fungibility and privacy features.

The Launch Of OmniLite And Future Developments

In 2021, the Litecoin Foundation announced the launch of "OmniLite," a decentralized token creation platform. This layered protocol benefits from Litecoin's impressive security and low fees. In addition to lower fees and faster processing times, developers are planning to add newer features. This will definitely give the network adoption rate even more of a boost.

Is LItecoin A Buy Right Now?

Litecoin crypto might be weighed down by near-term concerns about its adoption, rising interest rate, and the Russian-Ukrainian war. However we believe it still has plenty of room to rise over the long term as it locks more corporations into its expanding ecosystem of payment services. In short, we believe that it’s still a solid evergreen investment for patient investors.

With a rapidly growing network and a dedicated development team, Litecoin has positioned itself as one of the top cryptocurrencies in the market.

Highly flexible networks such as Litecoin will continue to see increased interest in the future as they are easily adapted for change. Besides, the relatively low fees are enticing for those who use the network for transfers. Litecoin could also be a more convenient and economical option for those seeking to maximize their utility.

Litecoin has also set its footprints in the booming blockchain gaming sector and is working with UFC (Ultimate Fighting Champion), gaming giant Atari and Overstock.com. The clients of these companies use LTC as a mode of payment for goods and services. This worldwide acceptance has catalyzed the growth of LTC to new highs. Moreover, enhancing transaction speeds, lowering costs, and making the network more sustainable, both environmentally and technically, are some of the key goals developers are targeting for Litecoin. Once these are accomplished, the network would see increasing demand, skyrocketing LTC’s price and value to record highs.

Check Out: Litecoin Price Prediction

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

The Litecoin network would remain one of the fastest-growing blockchains in the market.

Litecoin’s price and value have experienced wild swings over the past years. But, the growth of crypto has always been consistent with various progressions in its network. As a result, the asset is relatively more stable than its peers.

With so much going on in Litecoin’s favour, analysts and investors are mulling over the question - is LTC a buy, hold, or sell right now? Litecoin’s value as an efficient network with low fees and high adoption among merchants worldwide has made LTC a cryptocurrency worth adding to your investment portfolio. Moreover, as the global economy becomes more digital, there will be an increased demand for digital currencies like LTC, making it a good buy now for future returns.