{"id":466935,"date":"2021-07-06T10:32:38","date_gmt":"2021-07-06T10:32:38","guid":{"rendered":"https:\/\/wncen.com\/?p=466935"},"modified":"2021-07-06T10:46:41","modified_gmt":"2021-07-06T10:46:41","slug":"litecoin-foundations-project-director-makes-the-case-for-ltcs-network-effect","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/litecoin-foundations-project-director-makes-the-case-for-ltcs-network-effect\/","title":{"rendered":"Litecoin Foundation\u2019s Project Director Makes The Case For LTC\u2019s Network Effect"},"content":{"rendered":"

Old faithful Litecoin turns 10 years old on October 7th. After a decade of activity, it\u2019s still going strong. A faster and lighter Bitcoin fork, LTC\u2019s objective has always been to be the silver to BTC\u2019s gold. And this crazy year of high fees, Litecoin might\u2019ve proved its worth. For many, it became the instrument of choice for sending money around without paying an exorbitant fee.<\/span><\/p>\n

Our sister site, <\/span>Bitcoinist caught wind of this development<\/span><\/a> and reported:<\/span><\/p>\n

Data compiled by <\/span>@MASTERBTCLTC<\/span><\/a> shows the number of Litecoin transactions is just under 75% of that of the number of Bitcoin transactions.<\/span><\/p>\n
\u201cLitecoin transactions are 75% of the total bitcoin transactions.
\n<\/span>When will litecoin transactions flip bitcoin transactions?
\n<\/span>Sometime in 2021 I predict.
\n<\/span>227k BTC vs 168k LTC transactions.\u201d<\/span><\/p>\n
More significantly, @MASTERBTCLTC suggests this could be the start of an uptrend leading to a flippening in transaction count sometime this year.<\/span><\/p><\/blockquote>\n
We wouldn\u2019t go as far as “a flippening in transaction count,” <\/em>but it definitely is an interesting development that deserves further study. Luckily for us, Litecoin Foundation\u2019s David Schwartz broke the case for its \u201c<\/span>network effect + ever growing status over the near past 10 years<\/span><\/i>.\u201d<\/span><\/p>\n
Related Reading | Grayscale Loads Up On Litecoin, Dumps BTC & Other Coins, But Why?<\/a><\/strong><\/em><\/p>\n
Litecoin\u2019s Transactions Are Cheaper And Faster\u00a0<\/span><\/h2>\n
This is by design. The cheaper and faster transactions are the reason for Litecoin\u2019s creation. However, the case hereby presented is that LTC \u201c<\/span>has changed from mostly a method to transfer BTC during peak cycle to one of more ‘regular’\/payment<\/span><\/i>\u201d and transaction usage. The asset seems to be changing.<\/span><\/p>\n
\n
When looking at trx volume vs. trx median value, you start to see how #LTC<\/a> has changed from mostly a method to transfer #BTC<\/a> during peak cycle to one of more 'regular'\/payment trx usage.<\/p>\n
Median $ value per trx is only $160.43 on 5\/13\/21, the same day it hit > $28 bln moved<\/p>\n
3\/ pic.twitter.com\/gPqHTrwte2<\/a><\/p>\n
— David Schwartz (aka – Dasch) (@DaddyCool1991) July 5, 2021<\/a><\/p><\/blockquote>\n