Litecoin LTC

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About Litecoin

About Litecoin

Founded two years after Bitcoin, Litecoin (or LTC, or Ł) has proven itself one of the most enduringly popular altcoins. Designed as a leaner, more agile currency, it can be traded more quickly than BTC, and there are a greater number of coins available.

The currency was invented in 2011 by Charlie Lee as a supplement to the main currency. Both BTC and LTC rely on a ‘proof of work’ system, whereby a single party proves to others that computational effort has been put toward a specific purpose. This effort is what prevents bad actors from taking over the network — the amount of work necessary would make such a think impossible.

  • LTC is divisible into millilitecoins (mŁ), which are a thousandth of a single LTC, and microlitecoins (μŁ), which are a millionth.
  • There can only ever be 84 million Litecoins. This is guaranteed fundamentally by the mathematics upon which the currency is based.
  • A Litecoin block is mined every 2.5 minutes, releasing 25 new coins.
  • Halving event occurs once every 840,000 blocks, which works out roughly once every four years.
  • The transaction fee for LTC is just under $0.05, compared with more than $0.50 for BTC.
What determines Litecoin’s price?

Several factors inform the value of LTC. There are as follows:

Supply and Demand

Like that of just about every commodity, the Litecoin value is driven by supply and demand. If tomorrow investors were to want more LTC, then other investors would be able to charge more for it.


A feature common to both BTC and LTC is a regular halving of the reward meted out for new blocks. At the launch of the currency, those who successfully mined a new block were given 50 LTC. This was halved to 25 on August 25th, 2015, and then again to 12.5 on August 5th, 2019.

This event restricts the new supply of coins into the market. Reducing the new supply reduces the selling pressure as miners are given less and less LTC as a reward. As a consequence, halvings tend to drive the price of a coin up.


Bitcoin is so huge and influential that rises and falls in the price of the currency tend to have ripple effects across crypto as a whole. If investors are bullish about BTC, the chances are that LTC will feel the benefit, too. In fact, this is especially the case with LTC for two reasons; first, they are based on similar fundamental architectures; second, given that LTC followed swiftly in the wake of BTC, it’s probable that investors in LTC are also investors in BTC — and thus there’s a stubborn link between the two.

Litecoin Price History

At its inception, the price of Litecoin was negligible, sitting at less than $0.01. Over the period between 2011 and 2013, it steadily climbed to three dollars. It was then that the first bull run up to $50 arrived. This was small change, however, when compared with what was to come.

As part of a general surge in the price of crypto towards the end of 2017, the price of Litecoin recorded a new high in late December, settling on $360 and representing an 8200% increase, year-on-year. You can see a detailed history of the Litecoin price on our Litecoin chart.

Litecoin Price Prediction

It’s difficult to predict the future trajectory of any given cryptocurrency. Any of the predictions we offer here are speculatory and should not be interpreted as investment advice. Investment in Litecoin, like investment in any other commodity (digital or otherwise) carries the risk that you’ll eventually lose your investment. In the case of crypto, the value could theoretically slip to zero.

With that said, so far crypto in general has defied the naysayers and its value has compounded rapidly. This is true of every established coin. While there have been numerous altcoins that have emerged and collapsed, Litecoin has stood the test of time. It’s therefore reasonable to be optimistic.

Price Volatility

It’s reasonable to wonder why the price of LTC and other cryptocurrencies is so volatile. The answer largely lies in the size of the market. While about everyone in the United States owns at least some USD, just 10% of the population own BTC. For LTC, the figure is much lower than this. As a consequence, it takes only a few actors to start moving their currency to create sizeable change in price.

Crypto is still a recent innovation compared with alternatives like gold, though it shares many of the same theoretical features. As such, markets are more prone to becoming spooked, which helps to exacerbate large downturns in price.

Frequently asked questions

Litecoin can be purchased directly from other traders, from brokers (who are effectively organisations trading large amounts of coins with many users) and through exchanges, which mediate transactions between users. The latter two options provide more security, though they tend to also charge higher fees. To find out more about how to buy Litecoin, read our Step-By-Step Guide.

To store LTC, you will need a wallet. This can be a hardware wallet or a software one. The official Litecoin wallet, Litecoin Core, can be installed on any Windows, Mac or Linux machine. It’s been designed with Litecoin in mind, but it does come with a steep learning curve. There are alternatives which work on mobile phones, or in your web browser. You might also put your coins into ‘cold storage’ by printing both private and public keys on to a piece of paper. Of course, you’ll then also have to keep that piece of paper secure against theft, too.

Litecoin emerged in 2011 as a competitor to Bitcoin. The brainchild of Google engineer Charlie Lee, it was envisioned as a more lightweight alternative to bitcoin — though the two currencies share a great deal in common. They are both hard-capped, decentralised digital currencies with a proof-of-work consensus mechanism.

You will see Litecoin listed on crypto exchanges under its ticker LTC. The currency's symbol is Ł.

Much like Bitcoin, Litecoin is divisible up to eight decimal places. The smallest possible unit of the currency is known as a photon, or a microlitecoin, or as μŁ.

The price of Litecoin is a market price based on supply and demand. This means that it will rise, when there are more people willing to buy than sell, and fall when there are more sellers than buyers.

Like most cryptocurrencies, Litecoin's price is heavily tied to the price of the overall cryptocurrency market. When the major cryptocurrencies like Bitcoin rise, then so usually does the LTC price.

Those looking to invest in Litecoin should pay attention to upcoming halving events. The reward for mining a Litecoin block halves at fairly predictable intervals. The next event is due to take place around August 2023, at which point the block reward will shrink to 6.25. This reduces the supply of newly minted litecoins, and should therefore put upward pressure on the Litecoin price.

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