Litecoin Continues To Advance Unnoticed
Perhaps like most people in the Crypto space, your focus has solely been on Bitcoin in recent days. The top Crypto asset has recently shattered all time high levels to form a new all time high at approximately $23 800! This is a very large move by any standards and has come as a vindication to many a Bitcoin bull that has had the strength to weather the Crypto winter.
In relation to Bitcoin's ascent, most altcoins are suffering against BTC. Though most alts are rising in dollar value, most are collapsing against BTC!
On the 11th of December, Litecoin began to rise against against Bitcoin and continues to do so. Looking at the past 7 days on Coingecko, BTC is up a massive 22%, while LTC is up a whopping 29%! This is very significant as firm favorites such as ChainLink and Polkadot are not performing well at all when compared to Bitcoin.
This is very encouraging to see, as it has been predicted by Sapphire Crypto on numerous occasions. People get caught up in advancement and forget that the coin leading everything higher is severely lacking when viewed through this particular lens. It is important to note that Bitcoin is currently receiving the attention it is due to one simple aspect, that has nothing to do with better technology but rather preserving value.
Independent Of The Future
There are a still a lot of future second layer solutions that can bring further value to Bitcoin in time. Litecoin was created to be the silver to the digital gold that Bitcoin is so often referred to. Further advancements such as privacy will go a long way to bring further value to Litecoin but like Bitcoin, it is not dependent on new technology to advance.
Silver was essentially a way to store value but also a way to be able to purchase items at the same time. Litecoin aims to accomplish a similar end by creating value over time that can also be used as an affordable payment network.
Bitcoin and Litecoin move to a unique beat and that is just the way it is. They have a unique set of rules that do not apply to the broader Crypto market. Another incentive to hodling Litecoin, is the fact that you can earn interest on your LTC holdings via a service such as BlockFi or Celsius. Third party platforms do incur risk, so make sure you do your own due diligence and are comfortable with the risks involved.
There is still a lot of upside for altcoins ahead and even BTC, so keep your head in the game. We are just getting started!
