LTC or XRP? Or Both?
Is Litecoin still silver to BTC, or is XRP taking over the spotlight? XRP has gained 400% in the last 3 months, where as LTC has only gained 50%. Does it also makes sense to you guys to move some of the XRP gains into LTC and then play on both upsides? 🚀🚀
Yes, Litecoin is considered a deflationary cryptocurrency.
Here's why:
* Limited Supply: Litecoin has a finite supply of 84 million coins. This fixed cap on the total number of coins that can ever exist contributes to its deflationary nature.
* Halving Events: Litecoin undergoes a "halving" event approximately every four years. This event reduces the reward for miners who process transactions on the Litecoin network. By decreasing the rate at which new coins are created, halvings contribute to the overall scarcity of Litecoin.
Key Points:
* Deflationary Characteristics: Deflationary assets generally increase in value over time due to their scarcity.
* Potential for Price Appreciation: Litecoin's deflationary characteristics, coupled with factors like increased adoption and technological advancements, could potentially drive its price upwards.
* Canary Capital filed with the SEC for a spot Litecoin ETF.
* This makes them the first entity to seek approval for an ETF that tracks the spot prices of
.
XRP and Litecoin are not the same currency.
* XRP is the cryptocurrency associated with the Ripple network, a decentralized payment system.
* Litecoin is a cryptocurrency often referred to as "silver to Bitcoin's gold".
They are separate cryptocurrencies with distinct purposes and technologies.