Litecoin Founder Refutes Chapter FUD, Celebrates LTC Birthday

Litecoin has simply turned eight years outdated. LTC was launched in October 2011 and has stood the take a look at of time alongside its large brother which spawned the exhausting fork. These days, there was loads of FUD over the crypto asset, and most of it’s utterly tenuous and pointless.

Litecoin Survives 8 Years

Cryptocurrencies come and go, some in only a quick house of time. The market clearly isn’t sufficiently big but to assist even a fraction of the virtually 3,000 cash and tokens listed on Coinmarketcap.com. One good option to discover out which of them have the mettle is to take a look at people who have survived the take a look at of time.

CMC’s historic snapshot software doesn’t even return so far as the time LTC was spawned and its earliest day is April 2013. Again then simply seven cryptocurrencies have been listed and as we speak solely two of them nonetheless exist within the high 300: BTC and LTC.

Litecoin creator, Charlie Lee, celebrated this achievement with a birthday tweet for the phrase’s sixth largest crypto asset.

Litecoin community has been up and operating constantly for the previous 8 years with zero downtime. And in that span of time, over $500,000,000,000 value of LTC have been transacted.

Joyful eighth birthday to Litecoin! 🎉

Litecoin community has been up and operating constantly for the previous 8 years with zero downtime. And in that span of time, over $500,000,000,000 value of LTC have been transacted. 😮

Trying ahead to the subsequent 8 years and extra! 🚀 pic.twitter.com/ItcDWrdCf1

— Charlie Lee [LTC⚡] (@SatoshiLite) October 13, 2019

Naturally, loads of crypto tribalism and mudslinging adopted that tweet with many traders remembering how Lee offered out on the peak when Litecoin topped $350 nearly two years in the past.

There have been additionally calls of chapter following a media FUD storm focusing on the mission. Lee was fast to refute this adding;

It’s not close to chapter. Don’t take heed to silly fud and lies. We come up with the money for to final 2 years.

Granted, Litecoin has failed to carry on to its good points this 12 months, however so has each different altcoin so the FUD is only superfluous. For the reason that starting of the 12 months, LTC has gained 88% to its present ranges regardless of a large 60% correction from its 2019 excessive of $145.

LTC value YTD – Tradingview.com

The chart mirrors that of most different altcoins that are all nonetheless shifting in synch with one another. It did undergo the loss of life cross in late August because the downtrend intensified and is unlikely to recuperate till Bitcoin begins heading north once more.

LTC has been consolidating across the $55 stage for the previous three weeks however has been in a steep downtrend because the finish of June having gained little or no from the halving occasion.

The silver to bitcoin’s gold has survived 8 years and outlived many others which have come and gone, it is also prone to be round for a short while longer no matter what the detractors assume.

When will Litecoin value make a restoration? Add your ideas beneath.

Photos by way of Bitcoinist Media Library, Twitter: @SatoshiLite, LTC/USD charts by TradingView