Litecoin's high similarity to Bitcoin at the code level has not allowed its market capitalization or market acceptance to reach the level of Bitcoin. There are multiple reasons behind this. First, Bitcoin's status as the first cryptocurrency gave it an unparalleled first-mover advantage, allowing it to establish deep visibility and widespread recognition in the market. Secondly, Bitcoin has significant network effects, with a large user base, a strong miner network and an active developer community, which together build a safe and stable ecosystem, which is extremely attractive to investors and users. force.

In addition, Bitcoin has extremely high brand recognition and has almost become synonymous with cryptocurrency, occupying a dominant position among the public and media, while Litecoin appears to be relatively weak in terms of brand influence. In terms of market liquidity, Bitcoin has larger trading volume and deeper market depth, providing investors with higher transaction convenience. At the same time, Bitcoin is widely regarded as a long-term store of value, similar to "digital gold", while Litecoin, although called "digital silver", has not received the same market recognition.

Furthermore, the preference of large financial institutions and enterprises has further strengthened the market position of Bitcoin. They are more inclined to invest in Bitcoin, which brings more market attention and credibility to it. Technical differences, such as different block generation times and algorithms, have not made Litecoin stand out in the market as an alternative to Bitcoin. On the contrary, these differences may even be seen as its disadvantages in some cases.

Finally, continued media attention and high exposure to Bitcoin have also increased its influence in mainstream society, while Litecoin’s performance in this regard has been relatively lackluster. More importantly, Litecoin's initial market positioning was as a complement to Bitcoin rather than a substitute, which to some extent limited the realization of its market potential. In summary, despite the technical similarities between Litecoin and Bitcoin, a variety of factors work together to cause its market capitalization and market acceptance to be much lower than Bitcoin.