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Litecoin, while being one of the most successful original altcoins, has generally been overlooked by crypto investors over the past couple of years. However, in 2017, Litecoin was on top of the world for many reasons. For one, it enjoyed a comfortable position within the list of the top ten cryptocurrencies. For another, the coin’s founder, Charlie Lee, was one of the most popular crypto personalities on Twitter (NYSE: TWTR), able to move markets with a single tweet.

At its 2017 height, Litecoin was trading at US$360 each, a record held until May 2021, when it topped out at US$413. Notably, Litecoin’s new fresh high was not that much more than its 2017 high. This is notable if you compare it to other coins that ballooned far beyond their respective 2017 heights. Take Bitcoin, Ethereum, and Doge, for example; the worst performing of these three was Ethereum, yet still clocked in a fresh 2021 record 169% above its 2017 high.

Litecoin is currently floating just outside the list of the top ten crypto projects, at number fourteen. While comfortable in the top twenty, it is frequently jostling for position in the capitalisation hierarchy with the assets on either side of it, Chainlink and Solana.

Will Litecoin ever re-enter the top ten?

I do not think it will re-enter the top ten list. Although, I do appreciate several characteristics of the coin; It has a low-ish circulating supply, it has been around for a decade, and the Litecoin Foundation has initiated some exciting projects (e.g. Litecoin/Visa cards that easily transfers Litecoin to cash at a point of sale)

However, its value proposition is a little less sexy than other projects. As such, Litecoin doesn’t generate the same media or public interest as its compatriots.

Barring the coin’s attachment to Elon Musk, Tesla (NASDAQ: TSLA), or another meme, some other events will have to take place for Litecoin to re-enter the top ten. But, despite that, Litecoin should remain solidly in the top twenty.

How will the top ten list look by the end of 2021?

Before the end of the year, investors will re-learn that blockchain networks are not suitable to displace every technology. In this respect, I think it is safe to say that the terribly named Internet Computer will fade into oblivion. Its use case is as silly as VeChain’s and BitDegree’s.

I suspect Ethereum-like networks will be the next big thing in the crypto space. Ethereum network fees are excessive and several alternatives to the sluggish-legacy network have been growing in popularity. I think this trend will continue. As such, I expect Solana to move up the hierarchy and Cardano to strengthen its position against Dogecoin and Ripple.

Please note: BlackBull Markets offers the option to trade cryptocurrency on a demo account ONLY. Our FMA regulatory status means we do not offer the option to trade cryptocurrency on a live account. 

Interesting points from Gemini’s 2021 State of US Crypto Report

Gemini, the US-based crypto exchange, surveyed 3000 US-based investors. The result gives a snapshot of the general sentiment held toward crypto assets. A few illuminating facts are contained in the 16-page report. Perhaps the most exciting facet relates to how the demographic of crypto holders might radically change in the next wave of adoption.

Read the full story at fxstreet.com

Gemini state of crypto

The last week in Crypto: Doge eclipses news of BTC and ETH record highs​

Dogecoin's run up to US$0.40 last Friday, eclipsed awareness of the record prices achieved across the Crypto landscape. For instance, Bitcoin hit ~US$63K while Ethereum hit ~US$2.5K. Unluckily, these two coins did not have the same run-up to their new respective milestones that Dogecoin had.

The price of Dogecoin has held firmly over the weekend and into the new week, not venturing far outside the 30-cent range. Bitcoin and Ethereum, like much of the other top ten crypto projects, started tracking down by Saturday and kept that trend for multiple days.

A reversal of fortune has occurred recently. Most of the projects are now back in the green, for the past 24 hours at least, other than Polkadot and Litecoin.

Read the full story at fxstreet.com

Billionaire tweets about cryptocurrency! But who’s standing up for Cardano?

It appears that a major market force in the world of cryptocurrency are the tweets of billionaire influencers.  Musk, Dorsey, and Cuban all have chimed in with positive tweets singing the praises of Bitcoin or Ethereum.

Cardano, the sixth largest crypto asset in terms of market cap, has increased in price by ~3,500% in the past year. But, is there a billionaire backer tweeting their support of the digital asset?

Read the full story at fxstreet.com

Bullish Cardano Run