In an article published in Forbes, analyst Billy Bambro said that the 4th largest market capitalization of the cryptocurrency Litecoin (LTC) will outpace XRP by the end of the year and take 3rd place.
Despite the fact that cryptocurrency prices are still at a low level, LTC has almost doubled its value since the beginning of the year. At the time of writing, the coin is trading at $ 57, which is above its lowest minimum in December 2018 – $ 23.
Bambro believes LTC pricing is a response to the active efforts of the Litecoin Foundation and developers to improve coin security and privacy, in addition to choosing several well-known partners.
The SFOX report states:
Litecoin volatility increased dramatically when the Litecoin Foundation announced that it was exploring the possibility of integrating Mimblewimble, a protocol that provides privacy and flexibility for blockchains. In March, watch how privacy news affects markets, for example, recent reports that a third-party service provider, Coinbase, sells customer data.
As for XRP, Bambro believes that JP Morgan’s announcement of the creation of JPM Coin has sparked investor interest in Ripple and XRP.
According to EWN, Binance Research refutes the idea that JPM Coin will compete directly with Ripple or XRP. However, Bambro argues that the changing cryptocurrency landscape, with a positive attitude, is now lulling towards LTC, may be enough for Litecoin to outrun XRP by the end of the year. At the time of writing, LTC has a market capitalization of $ 3.5 billion, compared with $ 13 billion for XRP, which represents a significant gap that needs to be bridged.
However, the analyst finds reason to be optimistic about LTC and its growing use and implementation in the real world, quoting a statement from eToro senior analyst Mati Greenspan, published earlier this week:
The use of Litecoin in the real world seems to be a calculation method for crypto traders. For people who often send money from the stock exchange to private wallets, it is much cheaper and faster to do it with Litecoin than with Bitcoin.
That is why it really deserves the name "digital silver", especially with the upcoming cut in half in August.
What do you think about Litecoin?
