Litecoin creator Charlie Lee on Tuesday for the primary time talked about LTC value because it prepares to endure halving within the subsequent few days. He predicts not less than a ten% rally in LTC price in opposition to BTC.
Traders anticipate a large enhance in LTC value after the halving occasion and up to date developments such because the LTC-20 commonplace for Ordinals on Litecoin.
Litecoin Creator Charlie Lee Sees Massive Upside Potential
Litecoin creator Charlie Lee in a tweet on May 2 revealed his LTC value goal. This shocked the Litecoin neighborhood as he was tweeting about Litecoin value targets for the primary time.
Currently, the crypto market values Litecoin at barely over 1% of Bitcoin. He believes the market possibly correct right now, however Litecoin has a number of potential. Features corresponding to greater throughput by design, scalability with extension blocks, and higher fungibility and privateness from MWEB.
He predicts LTC value with an upside potential of 10% in opposition to Bitcoin after the halving in early August. Charlie Lee sees LTC/BTC value at 0.025. Currently, LTC/BTC value is buying and selling at 0.003, approach beneath the focused value.
In the subsequent bull market, LTC/BTC value will commerce at 0.0125 as Bitcoin value is more likely to rally close to the Bitcoin halving in 2024. On the draw back, he believes the LTC value won’t go beneath 1% at 0.0025.
“It’s hard to deny there is value in Litecoin, a coin that has low fees, is protocol-compatible with Bitcoin, has the same game theoretical attack surfaces as Bitcoin, is secured with its own set of ASIC miners, is fairly launched, and has 11.5 years of history with zero downtime.”
The Litecoin halving is expected to occur on August 2 at 20:34:57 UTC. Currently, LTC block reward is 12.5 cash per block and can lower to 6.25 cash per block post-halving.
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Massive LTC Price Rally Coming?
LTC value is presently buying and selling at $88.33, up 1% within the final 24 hours. The 24-hour high and low are $85.59 and $87.79, respectively. Furthermore, the buying and selling quantity is generally flat as merchants await the important thing Fed fee hike determination on May 3.
LTC value is predicted to rally to $250 after the halving because the Ordinals builders are bringing it on Litecoin. An LRC-20 commonplace for Ordinal inscriptions is presently exhibiting elevated adoption.
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