Litecoin Founder Discloses Insider Information On LTC Advantages
Charlie Lee, the founder of the Litecoin cryptocurrency, published a series of posts on Twitter, describing the technical secrets of the token and debunking several myths about "digital silver".
1/ Recently, there has been a concerted effort to suppress Litecoin price by people/funds that are shorting LTC and by groups that see Litecoin as a threat. I will clear up this FUD and show why Litecoin has tremendous value.— Charlie Lee [LTC] (@SatoshiLite) September 20, 2018
Lee stated that the Litecoin network has the highest protection level among other networks. It is protected by equipment worth more than $150 million. The Litecoin founder claims that it is pointless to attack the network as the miners’ devices will not be able to cope with it and, consequently, will depreciate.
According to Charlie Lee, Litecoin is considered one of the most liquid cryptocurrency. He stressed that the token is listed on almost every exchange and reminded about the upcoming altcoin launch on Gemini, the platform of the Winklevoss brothers.
Lee also responded to the users who believe that the token will become less popular due to the introduction of the Lightning Network into the main bitcoin network. According to him, many Lightning clients support Litecoin, and there is the possibility of an atomic swap with the first cryptocurrency.
According to one of the tweets, transactions worth about $200 million are conducted every day through the Litecoin network. According to CoinMarketCap, as of September 21, the token is ranked seventh in terms of capitalization amounting to $3.3 billion. Its price is $58.06, and the rate of the cryptocurrency grew by more than 7% per day.
Positive dynamics followed the last week that was unsuccessful for Litecoin: on Wednesday, September 12, the price of the Litecoin (LTC) cryptocurrency fell to an annual low below $50, losing 6.7%.
Charlie Lee considers Litecoin a rather valuable asset and assures that he is spending all his time on the popularization of altcoin for its universal adoption. However, earlier, Lee refused to buy Litecoin tokens.