Litecoin is one of the oldest cryptocurrencies and is still one of the top 15 cryptocurrencies by market cap. However, it is trading at $69.77 as of February 24, 2024, down by 80.95% compared to its ATH of 359USD. Investors who bought LTC at the top are worried about their investment in Litecoin and wants to know if LTC can recover in 2024.

In this post we will learn about what is Litecoin, what are the features, LTC price prediction, and if it is a good investment in 2024.

Latest Happenings Around Litecoin (LTC)

Litecoin is outperforming the rest of the cryptocurrency market as it approaches its halving event. The halving event is a scheduled event that reduces the reward for mining new blocks by half. This event is typically seen as a positive catalyst for the price of Litecoin, as it reduces the supply of new coins entering the market.

In addition to the halving event, Litecoin is also seeing increased interest from institutional investors. This is evidenced by the fact that open interest for Litecoin futures derivative contracts has surpassed $420 million globally. Open interest is a measure of the total amount of money that has been bet on the future price of Litecoin. The increase in open interest indicates that there is a growing number of investors who are bullish on Litecoin.

Finally, the overall number of LTC addresses participating as senders and receivers has reached 832,000. This number is a proxy for the number of people who are using Litecoin. The increase in the number of LTC addresses indicates that Litecoin is becoming more popular and is being used by more people.

The combination of the halving event, increased institutional interest, and growing user adoption is bullish for Litecoin. It is possible that Litecoin could see a significant price increase in the coming months.

Before we deep dive, let’s learn more about LTC.

What is Litecoin?

Litecoin is a peer-to-peer internet money that enables immediate, almost-free payments to anyone in the globe, much like Bitcoin. A global payment network with no centralized authority, Litecoin is entirely decentralized, open source, and available worldwide. Math protects the network by allowing individuals to take control of their financial situation. In terms of transaction confirmation speed and storage effectiveness, the main math-based currency is exceeded by Litecoin. As a tried-and-true payment option to Bitcoin, Litecoin has substantial industry support, transaction volume, and liquidity.

The Litecoin main chain shares a small amount of code with the Bitcoin core, technically speaking. As a practical result of such codebase modifications, lower transaction fees, faster transaction confirmations, speedier mining difficulty retargeting, and faster transaction confirmations are all possible.

Litecoin infographic

Infographic on Litecoin

What is the Smallest Unit of Litecoin

Currency codes for representing Litecoin is LTC. 

One Litecoin is divisible to eight decimal places. Units for smaller amounts of Litecoin are lites, millilitecoin (mŁ), equal to 11000 litecoin, photons, microlitecoin (μŁ), equal to 1100000 and the litoshi, which is the smallest possible division, and named in homage to Bitcoin’s smallest denomination the satoshi, representing 1100000000 (one hundred millionth) litecoin.

History of Litecoin

On October 7, 2011, Charlie Lee published Litecoin through an open-source client on GitHub. On October 13, 2011, the Litecoin network became operational.

Following the introduction, growing exchange availability and liquidity on pioneering exchanges like BTC-e helped Litecoin grow quickly. 

The overall value of Litecoin increased dramatically throughout the month of November 2013, growing by 100% in just one day. Lee made the suggestion to the larger Dogecoin community to unite mining (auxPOW) Dogecoin with Litecoin in the beginning of 2014. When Dogecoin and Litecoin started merging their mining efforts in September 2014, Dogecoin gained more security and a block subsidy that was not previously possible with Litecoin mining.

Segregated Witness was initially adopted by Litecoin in May 2017 among the top 5 cryptocurrencies (ranked by market capitalization). Later that same month, in May, the first Lightning Network transaction using Litecoin was finished, sending 0.00000001 LTCfrom Zürich to San Francisco in less than one second.

In 2020, PayPal expanded its Crypto feature to allow users to buy Litecoin derivatives that could not be retrieved or utilized in addition to Bitcoin, Ethereum, and Bitcoin Cash.

The cooperation between Litecoin and Walmart was announced in a fakepress release that appeared on GlobeNewswire in September 2021. Before the press release was discovered to be a scam, this contributed to a 30% spike in the price of Litecoin. 

Litecoin’s market capitalization surpassed $8.7 billion in February 2022. PayPal made it possible for users to transfer Litecoin, along with Bitcoin, Ethereum, and Bitcoin Cash, from PayPal to other wallets and exchanges in June 2022.

How it works?

Open Source Software

Litecoin is an open source software project made available under the MIT/X11 licence, which enables you the freedom to use, alter, and duplicate the programme as well as to distribute altered versions of the programme at your discretion. A transparent procedure is used to release the programme, enabling independent verification of the source code and binaries.

Decentralized

A peer-to-peer digital currency called Litecoin offers quick, inexpensive payments to anyone around the world. No CEO, no board, and no central bank. a network of payments that is really global and independent of any central authority.

Secure & Safe

The Litecoin network hasn’t had any downtime in ten years! Mathematics protects the network and gives people the power to manage their own finances.

Features of Litecoin

Your Money

Litecoin (LTC) is a form of open-access, censorship-free, decentralised money. Send payments to anybody, anytime, anywhere for a minimal cost that are private, secure, and borderless.

Blockchain Secured

The Litecoin blockchain is the biggest scrypt-based network in the world, running since 2011 with 100% uptime and safeguarding and tracing billions of dollars’ worth of assets.

Evolving and Immutable

The development of Litecoin led to the invention of cutting-edge technology like Atomic Swaps for cross-blockchain trustless trade and Lightning for instantaneous worldwide fund settlement.

Wallet Encryption

By encrypting your wallet, you may make it safe such that you can monitor transactions and your account balance but must input your password in order to spend litecoins.

This offers defence against Trojans and malware that steal wallets and a sanity check prior to sending funds.

Mining Reward

The number of fresh litecoins given to miners per block is presently 12.5, and it gets cut in half roughly every four years (every 840,000 blocks).

84 million litecoins, or four times as many money units as Bitcoin, are therefore expected to be produced by the Litecoin network.

Litecoin Projects & Ecosystem

The Litecoin Foundation is committed to continuously enhancing the Litecoin network and promoting the creation of innovative projects that run on the Litecoin blockchain. Litecoin is committed to innovation and enhancing the user experience, as shown by the projects listed below.

Litecoin Core

Litecoin uses peer-to-peer technology to deliver immediate payments to anybody, anywhere in the world, without the need for a centralized entity. The decentralized Litecoin network handles the management and processing of these transactions jointly. 

MWEB

The largest improvement to the Litecoin network to date, MWEB, promises to increase scalability while ensuring fungibility for all users. The Mimblewimble Extension Block (MWEB) update took more than two years to complete, according to David Burkett, the project’s primary developer.

With the release of Litecoin Core 0.21.2, which also contains Taproot, the MWEB update will be made available.

Litecoin Card

Unbanked is the engine behind The Litecoin Card™. It allows users to fund their accounts with Litecoin and other cryptocurrencies that are supported for instant, frictionless spending. The most effective way to spend Litecoin is through the Litecoin Card.

Users can sign up for an account, complete KYC, and receive a virtual card that they can use until they receive a physical card in the mail. The Litecoin Card is perfect for Litecoin lovers who want to use their Litecoin just like any other currency, unlike other cryptocurrency debit cards that keep user cash in a proprietary currency.

Lightning Network

Thaddeus Dryja and Joseph Poon introduced the Lightning Network for the first time in 2015. Scalability is one of the main issues that cryptocurrencies confront, and it was created to address this issue. The Lightning Network for Litecoin was introduced in 2018.

A second layer fix is the Lightning Network. Smart contracts—sets of guidelines that must be followed for transactions to occur—direct micropayments on the Lightning Network. Considering the fees that miners charge on the main blockchain, the fees are probably quite minimal. Nodes on the Lightning Network have much simpler tasks than do miners.

Litewallet

The Litecoin Foundation’s official Litecoin wallet is called Litewallet. Litewallet simplifies the process of getting started with Litecoin by putting a strong emphasis on security and user-friendliness.

By pressing a button, Litecoin can be sent and received. Whenever, whenever, and to whomever. Directly purchase Litecoin in Litewallet to get the deposit in a matter of minutes.

Omnilite

It is possible to create decentralized tokens, smart contracts, and digital assets such tokens and NFTs using the open-source platform OmniLite.

The fact that Omnilite is a layered protocol built on top of the Litecoin blockchain gives it a particular advantage over other blockchains in terms of integrity, network security, scalability, and relative low fees. The tokens produced by OmniLite can be thought of as an extension of Litecoin, and as a result, the transactions involving these tokens are documented on the blockchain of Litecoin.

All digital assets produced using OmniLite profit from the features, cutting-edge technology, and security of the Litecoin network.

Where can one purchase Litecoin (LTC)?

The best cryptocurrency exchanges right now for trading Litecoin are Binance, Kucoin, Coinbase, OKX, CoinTiger & XT.COM. 

LTC Price History

Litecoin (LTC), created in 2011 by Charles Lee, was listed on various exchanges, and its price increased to $30.

Following a little increase in 2015, Litecoin’s price stabilized over the following two years, staying around $3. 

Litecoin’s price spiked in the latter two months of 2017. On December 19, 2017, it reached its all-time high of almost $371, a 5000% rise in just two months. 

It has been a component of the new bull market since the summer of 2020 and reached $200 in April of 2021. 

It began 2022 at $150 before continuing to decline and hitting a low of $98.86 in March. $70 was the year’s final value.

LTC began trading in 2023 at $85.85 and closed trading at $73.4. 

Litecoin Price Prediction 2024

When Maximum Price Minimum Price
January 2024 $71.724 $51.231
February 2024 $80.589 $57.563
March 2024 $68.500 $57.084
April 2024 $57.084 $47.570
May 2024 $51.894 $43.245
June 2024 $52.932 $44.110
July 2024 $63.519 $52.932
August 2024 $71.141 $59.284
September 2024 $72.564 $60.470
October 2024 $76.192 $63.493
November 2024 $95.240 $79.366
December 2024 $114.288 $95.240

In 2024, Litecoin’s maximum share price target is expected to reach $114.288 in December. The minimum share price target at $43.245.

Litecoin Price Prediction 2025

When Maximum Price Minimum Price
January 2025  $122.111  $93.791
February 2025  $134.853  $106.095
March 2025  $143.081  $73.01
April 2025  $130.651  $89.371
May 2025  $143.119  $109.848
June 2025  $159.743  $113.818
July 2025  $186.733  $102.885
August 2025  $197.488  $121.923
September 2025  $212.111  $144.211
October 2025  $187.488  $81.923
November 2025  $150.885  $101.584
December 2025  $123.524  $79.012

In 2025, the LTC price is expected to reach a maximum of $212.111 in September, whereas a minimum of $73.01 is expected in March 2025.

The average LTC share price for 2025 is expected to be $142.50

These values should only be taken as estimates since we presently don’t have any data on which to base our projections. Due to cryptocurrency’s erratic nature, we cannot guarantee accuracy.

Litecoin Price Prediction 2026-2030

When Maximum Price Minimum Price
2026  $207.048  $87.581
2027  $204.698  $58.387
2028  $245.638  $70.065
2029  $368.457  $105.097
2030  $626.377  $178.665

In 2030, the LTC price is expected to reach a maximum of $626.377 whereas a minimum of $178.665 is expected. The years following 2027 are predicted to experience a bull run. 

Litecoin Price Prediction in INR

When Maximum Price Minimum Price
2024 9,499.05 3,594.31
2025 12281.92 3503.28
2026 18363.84 7006.48
2027 16375.84 4670.96
2028 19651.04 5605.2
2029 29476.56 8407.76
2030 50110.16 14293.2

FAQs

Who is in charge of Litecoin?

To put it briefly, nobody and everyone. Litecoin is decentralized since it has neither a CEO nor a board. One of Litecoin’s major advantages is that it may be accepted, developed, expanded upon, and successful by anybody. The Litecoin Foundation was created in order to be a community-run organisation where volunteers may contribute to the digital currency Litecoin ($LTC).

Will LTC ever reach $500?

Litecoin could produce returns of more than 500% in a short amount of time. Long-term cryptocurrency price predictions, however, are just not conceivable. It is always better than DYOR.

What is Litecoin price prediction for 2025?

In 2025, the LTC price is expected to reach a maximum of $153.524 whereas a minimum of $43.791 is expected. 

What is LTC price prediction for 2030?

In 2030, the LTC’s price is expected to reach a maximum of $626.377 whereas a minimum of $178.665 is expected.

When is the next LTC halving?

Third LTC halving took place on 3rd of August, 2023. Next Litecoin halving is expected to happen by 30th July 2027.

Will LTC ever recover?

Litecoin is showing signs of reversal, and in my personal opinion, it is a good time to buy LTC. LTC could definitely reach its ATH again, however we certainly can’t say when is that going to happen. I have taken position in LTC personally and looking to exit at a 100% gain.

When will LTC reach 100 USD?

LTC is expected to reach 100 USD in December 2024.

Also read:

Is Litecoin a Good Investment for 2024 & beyond?

Litecoin is basically a fork of Bitcoin, that is faster and cheaper, and (also less decentralized) with a smaller community compared to BTC.

LTC offers customers more benefits, such as improved security, faster processing times, and less expensive transactions. Because technology is constantly improving, LTC will be increasingly more interesting to new investors in the future.

Litecoin developers have now now enabled inscription, which means you can now store JPEGS, media in the blockchain. In other words, you can now have NFTs on the Litecoin network. This could be one of the factors that could drive LTC’s price in 2024.

But since estimating anything about cryptocurrencies is next to impossible, because of its volatile nature, it is recommended to DYOR.

I think BTC, and LTC will go hand in hand. Although LTC has not been performing its best after 2018, it does go up time and again, and that is a good time to sell.

Sitting around $69.69 with a marketcap of $5,868,107,614, LTC is a good buy for a 20 to 30% gain in 2024.

Last updated: 24th February 2024.