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Litecoin Rises 4,620% – Not Price, But…

Litecoin’s biggest disadvantage compared to other altcoins in the market is its lack of demand. At the same time, its biggest advantage is the lack of demand. That, in a weird way, is worth a milestone in itself.

There is none

Litecoin has not reported any downtime. Forever. Running for over ten years with 100% uptime, Litecoin is now one of the longest running cryptocurrency networks in the world.

Understandably, Bitcoin’s gold to silver exploded on social media channels in the wake of its achievement. In fact, its quotes are up 4,620% in just a few hours today.

Litecoin Social Referrals | Source: LunarCrush

Its lack of demand is an advantage as the rate of development in blockchain is well suited to its use.

When either of the two factors are exceeded or reversed, the network experiences some form of outage or downtime.

However, it is not that there is no demand for LTC. As one of the world’s most popular cryptos for payments, the altcoin has been widely accepted. Recently, for example, it added Swiss luxury watchmaker Breitling to its roster.

However, it is worth noting that these developments imply zilch for the price of LTC. The altcoin is still stuck in a downtrend, losing more than 15% of its value this week. Trading at $49 at press time, the crypto slipped back into bear territory, barely escaping after being stuck in it for nearly three months.

Litecoin price action | Source: TradingView – AMBCrypto

At the moment, apart from utility, LTC is not of much benefit to investors as it is not bringing much profit to its holders. Return on investment has fallen significantly over the past 12 months, and is now even negative.

Litecoin ROI | Source: Coinmetrics – AMBCrypto

Moreover, out of millions of investors who own LTC, only a few hundred thousand investors are still in profit. These investors bought their supply below the alt’s current trading price. These investors constitute only 13% of all LTC holders.

Litecoin investors at a loss | Source: Intotheblock – AMBCrypto

With Litecoin’s market value at an all-time low, it’s no surprise that new investors are deterred from putting their money into the asset. Even so, the existing community of LTC will continue to support it regardless.

Litecoin market value | Source: Sentiment – AMBCrypto

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