May 23, 2024

Over 8 years, over $ 500 billion passed through Litecoin network

The popular cryptocurrency celebrates its birthday today. The founder of the project, Charlie Lee, summarizedresults and talked about plans for the future.

Litecoin turned 8 years old, during which timetransactions worth more than $ 500 billion, Charlie Lee wrote on his Twitter. The creator of the cryptocurrency wished his project to successfully work out another 8 years and more. However, not everyone on the social network responded positively to the message, many users wrote that the Litecoin Foundation is on the verge of bankruptcy.

Lee replied to these comments that there is nobankruptcy and the company will have enough money to hold out for at least another 2 years. Today Litecoin takes 6th place in the ranking of the largest coins by capitalization. Compared to the beginning of the year, LTC is trading 88% higher, although during this time altcoin had to survive a 60% correction from the 2019 maximum. Over the past day, cryptocurrency dropped by 0.68%, to $ 56.95.

In early September, it became known that the hashrateLitecoin fell by 40% in just a month, which means that the network has become less secure, and miners have significantly reduced the activity of the coin network. Due to the halving, the total computing power has been reduced by almost half.