Introduction to Litecoin

Litecoin is a peer-to-peer cryptocurrency and open-source software project released under the MIT/X11 license. It was created by Charlie Lee, a former Google employee, in 2011. Litecoin is a fork of the Bitcoin Core client and is similar to Bitcoin in many respects. However, some of its major differences are that it has faster transaction confirmation times, a larger total supply of coins, and a different mining algorithm.

Litecoin has become one of the most popular cryptocurrencies and is currently in the top fifteen cryptos by market capitalization.

Litecoin’s Recent Partnership and its Impact on Price

Litecoin Foundation has recently announced a partnership with Metalpha Technology Holding Ltd, a tech-centered holding company based in Hong Kong. The partnership is intended to turn the mining process for the Litecoin network green by ensuring mining LTC becomes a carbon-neutral and renewable energy-fueled venture.

Litecoin Price Prediction: Will LTC Reach $1000?

Litecoin’s price reacted positively to the news, pushing over $100 and then holding support at $91.50. The outlook is bullish for the cryptocurrency with this new Litecoin news, and there is strong potential for a target price of $750 to be achieved in the next two years. Although $1000 per LTC is possible in the long-term, it will be difficult to see an LTC price prediction for 2025 at over $750, simply due to the sizable market cap it would hold at that level and the amount of capital it would require to push above that price, especially considering that would be 8x the current price.

Better Litecoin Alternative

When considering potential upside, it is important to consider the current market cap of the crypto in question. With a market cap of over $6.5 Billion, Litecoin is already very large and likely has less profit to be made vs. another project with a much lower market cap.

Taking into account the seismic shift being made towards artificial intelligence (AI) products, it would be highly likely that this would be the top trend for 2023 moving into 2024 and the sector with the most upside. Finding new projects in this regard is likely to generate significant profits. Avorak AI is one such new AI company, releasing a cryptocurrency through an ICO that is due to start imminently. Avorak AI will incorporate a number of different AI products that require the AVRK token to be used as a credit to access services. Some of this revenue is passed back directly to AVRK holders, and a small percentage is used to burn AVRK forever. With such a community benefit-driven outlook, it is highly likely this token, which is starting at a many times lower market cap, will generate huge returns for those individuals buying at any point of the ICO.

Want to learn more about Avorak AI?

Website: https://avorak.ai
Whitepaper: https://avorak-labs-and-technology.gitbook.io/avorak-a.i-technical-whitepaper/

The post Litecoin Price Prediction After New Partnership. Will LTC Reach $1000, or Will Avorak Be More Profitable? appeared first on CoinChapter.

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Filed under: Bitcoin - @ March 5, 2023 11:00 am