Cryptomustar
Monday, May 23, 2022
  • Home
  • Altcoin
  • Bitcoin
  • Ethereum
  • Litecoin
  • Cryptocurrency
  • Blockchain
  • Regulation
  • Market
  • Prices
  • ICO
No Result
View All Result
  • Home
  • Altcoin
  • Bitcoin
  • Ethereum
  • Litecoin
  • Cryptocurrency
  • Blockchain
  • Regulation
  • Market
  • Prices
  • ICO
No Result
View All Result
Cryptomustar
No Result
View All Result
Home Litecoin

Litecoin Founder Refutes Bankruptcy FUD, Celebrates LTC Birthday

by admin
August 27, 2020
in Litecoin
0
Litecoin Founder Refutes Bankruptcy FUD, Celebrates LTC Birthday
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter



Litecoin has just turned eight years old. LTC was launched in October 2011 and has stood the test of time alongside its big brother which spawned the hard fork. Lately, there has been a lot of FUD over the crypto asset, and most of it is completely tenuous and unnecessary.


Litecoin Survives 8 Years

Cryptocurrencies come and go, some in just a short space of time. The market clearly isn’t big enough yet to support even a fraction of the almost 3,000 coins and tokens listed on Coinmarketcap.com. One good way to find out which ones have the mettle is to look at those that have survived the test of time.

CMC’s historical snapshot tool does not even go back as far as the time LTC was spawned and its earliest day is April 2013. Back then just seven cryptocurrencies were listed and today only two of them still exist in the top 300: BTC and LTC.

Litecoin creator, Charlie Lee, celebrated this achievement with a birthday tweet for the word’s sixth largest crypto asset.

Litecoin network has been up and running continuously for the past 8 years with zero downtime. And in that span of time, over $500,000,000,000 worth of LTC have been transacted.

Happy 8th birthday to Litecoin! ?

Litecoin network has been up and running continuously for the past 8 years with zero downtime. And in that span of time, over $500,000,000,000 worth of LTC have been transacted. ?

Looking forward to the next 8 years and more! ? pic.twitter.com/ItcDWrdCf1

— Charlie Lee [LTC⚡] (@SatoshiLite) October 13, 2019

Naturally, a lot of crypto tribalism and mudslinging followed that tweet with many investors remembering how Lee sold out at the peak when Litecoin topped $350 almost two years ago.

There were also calls of bankruptcy following a media FUD storm targeting the project. Lee was quick to refute this adding;

It’s not near bankruptcy. Don’t listen to stupid fud and lies. We have enough money to last 2 years.

Granted, Litecoin has failed to hold on to its gains this year, but so has every other altcoin so the FUD is purely superfluous. Since the beginning of the year, LTC has gained 88% to its current levels despite a massive 60% correction from its 2019 high of $145.

LTC price YTD – Tradingview.com

The chart mirrors that of most other altcoins which are all still moving in synch with each other. It did suffer the death cross in late August as the downtrend intensified and is unlikely to recover until Bitcoin starts heading north again.

LTC has been consolidating around the $55 level for the past three weeks but has been in a steep downtrend since the end of June having gained very little from the halving event.

The silver to bitcoin’s gold has survived 8 years and outlived many others that have come and gone, it also is likely to be around for a little while longer regardless of what the detractors think.

When will Litecoin price make a recovery? Add your thoughts below.


Images via Bitcoinist Media Library, Twitter: @SatoshiLite, LTC/USD charts by TradingView





Source link

RELATED POSTS

Why did Litecoin’s MWEB upgrade take so long to roll out?

Fashion giant Gucci to start accepting crypto payments

Tags: BankruptcyBirthdayCelebratesFounderFUDLitecoinLTCRefutes
ShareTweetShare

Related Posts

Why did Litecoin’s MWEB upgrade take so long to roll out?

Why did Litecoin’s MWEB upgrade take so long to roll out?

by admin
May 18, 2022
0

Litecoin founder Charlie Lee tweeted an estimated go-live date of May 19, at 20:30 PT, for the long-awaited MWEB...

Fashion giant Gucci to start accepting crypto payments

Fashion giant Gucci to start accepting crypto payments

by admin
May 5, 2022
0

Italian high-end luxury fashion house Gucci is looking to add crypto as a payment option in some of its...

True benefits of Polkadot’s Parachain concept are about to be revealed, taunts DFG Founder James Wo

True benefits of Polkadot’s Parachain concept are about to be revealed, taunts DFG Founder James Wo

by admin
February 10, 2022
0

CryptoSlate caught up with James Wo, the Founder and CEO of Digital Finance Group (DFG), to talk about interesting...

This new booking platform on Solana is aiming to disrupt the music industry

This new booking platform on Solana is aiming to disrupt the music industry

by admin
February 10, 2022
0

GIGCO, a brand-new music platform built on Solana, recently announced its public IDO token sale to be hosted through...

Shiba Inu introduces real estate in doggy Metaverse

Shiba Inu introduces real estate in doggy Metaverse

by admin
February 10, 2022
0

Owning real estate in different metaverse worlds is becoming increasingly popular with soaring prices for parcels, plots and other...

POPULAR NEWS

4 Cryptocurrency that Blow Bitcoin Out of the Water

4 Cryptocurrency that Blow Bitcoin Out of the Water

September 25, 2020
Memoriae – Next Generation of Decentralized Cloud Storage Based on Blockchain

Memoriae – Next Generation of Decentralized Cloud Storage Based on Blockchain

July 1, 2021
Apollo CBDC: The CBDC Platform that can Power Economies

Apollo CBDC: The CBDC Platform that can Power Economies

October 6, 2020
Stratus: The Most Feature Rich Social Media Network

Stratus: The Most Feature Rich Social Media Network

September 9, 2020
Binance Coin (BNB) erupts above $270 as the whole Smart Chain ecosystem soars

Binance Coin (BNB) erupts above $270 as the whole Smart Chain ecosystem soars

February 19, 2021

EDITOR'S PICK

Large Bitcoin Investors Take a Breather After Frantic October, U.S. Inflation Data Eyed

Large Bitcoin Investors Take a Breather After Frantic October, U.S. Inflation Data Eyed

November 10, 2021
Crypto Miner BIT Mining Ditches Data Center Build in Kazakhstan Due to Unstable Power Supply

Crypto Miner BIT Mining Ditches Data Center Build in Kazakhstan Due to Unstable Power Supply

February 21, 2022
Craig Wright’s Latest Funhouse-Mirror Legal Adventure

Craig Wright’s Latest Funhouse-Mirror Legal Adventure

November 5, 2021
Thailand Eases Tax Rules on Digital Assets Until 2023

Thailand Eases Tax Rules on Digital Assets Until 2023

March 9, 2022

About

We publish a comprehensive news feed covering all news relevant to the crypto user, covering main industry news, politics and regulation as well as consumer-level “news you can use” (practical stuff), including handy DIY tips, links to useful tools, unbiased reviews and opinions revolving around cryptocurrency. Simple logic and real-world examples are preferred before technical jargon and personal rants.

Follow us

Categories

  • Altcoin
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • Ethereum
  • Litecoin
  • Market
  • Press Release
  • Regulation
  • Uncategorized

Recent Posts

  • Cardano IDO LaunchPad “Coollaunch” Records a buzzing progress as it Sells Out 0ver 11% Of $COOL Tokens Within Days
  • BabyMusk Coin Launches, As It Aims To Be The Next Big MEME Coin
  • Coinrealcap Announces Its Pinksale, Aims To Bring Advanced Crypto Tracking Features
  • Retro Style NFTs That Will Take You Back In Time…
  • About Us
  • Privacy Policy
  • Contact Us

© 2020 cryptomustar.com

No Result
View All Result
  • Home
  • Altcoin
  • Bitcoin
  • Ethereum
  • Litecoin
  • Cryptocurrency
  • Blockchain
  • Regulation
  • Market
  • Prices
  • ICO

© 2020 cryptomustar.com

  • YAM v2YAM v2(YAMV2)$4.70-1.41%
  • yfBetayfBeta(YFBETA)$4.27-0.10%
  • IDLEIDLE(IDLE)$1.44-12.39%
  • WPP TokenWPP Token(WPP)$0.006826-3.49%
  • DSLA ProtocolDSLA Protocol(DSLA)$0.003681-6.85%
  • lympoLympo(LYM)$0.004392-4.43%
  • Werewolf CoinWerewolf Coin(WWC)$0.098082-2.58%
  • PolkaBridgePolkaBridge(PBR)$0.439784-6.92%
  • Dev ProtocolDev Protocol(DEV)$1.76-16.14%
  • EvidenZEvidenZ(BCDT)$0.122949-3.85%