A strong position at $70+ and thrusting upward at a weak $85 resistance line, Litecoin spirals up and out of the meme generation.
With all indicators looking positive for the crypto industry…
We must look to utility in the coming months for profitable gains, I believe, with crypto underdog quietly taking the lead… LITECOIN
What we know:
– BINANCE:LTCUSDT active (true) market cap is $2.3 billion if you do not include dormant/lost Litecoin from early adoption years.
– COINBASE:LTCUSD circulating supply is 1/4 the scarcity of BINANCE:BTCUSDT
– BINGX:LTCUSDT Volume / Liquidity is 1/10 of COINBASE:BTCUSD
– KUCOIN:LTCUSDT market cap is less than 1/50 of INDEX:BTCUSD
– BINANCE:LTCBTC scales BINANCE:BTCPERP on layer 2 using Lightning Network, a high speed / low fee P2P transaction protocol.
– COINBASE:LTCBTC competes with other layer 2 protocols such as BITSTAMP:ETH2ETH and BINANCE:MATICUSDT but is wildly undervalued in market cap comparison
All things considered, I obviously don’t think anything will pass Bitcoin . However I do believe, competitively, Litecoin will outperform it’s layer 2 competitors like Ethereum in the coming months/years just on basic fundamentals alone.
My price target for Litecoin in 2023:
$375 – $3500