After years of relative obscurity, Litecoin is finally having a moment in the sun

After years of relative obscurity, Litecoin is finally having a moment in the sun

Jul. 3, 2023

By Jacob Oliver

A fork of the original Bitcoin network, Litecoin never gained the same reputation as a hot investment as its predecessor. But, having survived several bear cycles, crypto's "digital silver" is drawing investor attention.

Litecoin, one of the oldest digital assets in the industry, has recently seen a significant resurgence. After a period of relative obscurity, the “digital silver” to Bitcoin’s digital gold suddenly surged into the limelight.

Litecoin’s price has risen by 183% since last year’s June lows, with a 60% increase in just the last two weeks. This surge is attributed to several factors, including its survival through multiple bear markets, increased adoption, and an upcoming halving event.

Resilience

In a detailed analysis by Reddit user u/TarkovRedditor, Litecoin’s resilience in market downturns has made it a safer bet for many investors. Since 2017, only 41 assets have outperformed Bitcoin, and Litecoin is one of them. This resilience and its high adoption rate have made it an attractive investment. Further, Litecoin is one of the most popular cryptocurrencies adopted for payment, alongside Bitcoin and Ethereum.

Another factor contributing to Litecoin’s resurgence is its perceived undervaluation. Despite being in a downtrend since 2014, Litecoin has gained momentum during the recent bear market. This, combined with its increasing adoption, makes it a potential investment for future purchasing power. Major stores accepting Litecoin as payment could increase its value over time, unlike fiat currencies that lose purchasing power.