Litecoin ($LTC ), a peer-to-peer digital currency and open-source software initiative, mirrors many aspects of Bitcoin. As of today, it’s trading at approximately $93.11, with a 24-hour trading volume of $538 million and a market cap of $5.987 billion.

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Launched in 2011 by former Google engineer Charlie Lee, Litecoin was designed to enhance Bitcoin’s shortcomings by offering quicker transaction times and improved storage capacity. Notable features of Litecoin include its 2.5-minute block time, which is significantly faster than Bitcoin's 10-minute interval, and its utilization of the Scrypt hashing algorithm, which is more energy-efficient and requires less computational power.

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