Litecoin, Bitcoin's Fourth-Biggest Rival, Is up almost 5800 Percent This Year


Notably, bitcoin futures trading now represents little more than a blip in the market. Reaching €333 throughout the day, Litecoin has seen its price stuck around €70-80 during the past week. Litecoin was quick to point out the system issues faced by the Bitcoin exchanges, with the markets quick to move into Bitcoin's main altcoin competitor.

Now look at this, the Blockchain size for Bitcoin is 172.96 GB while that of Litecoin is 10.68GB, so it takes faster and less computing to process a transaction for a Litecoin. Litecoin has shown an exponential increase in the year alone, but what also makes it stand out better than bitcoin is the transaction time.

The bitcoin price rallied after US exchange CBOE launched regulated bitcoin futures contracts on Sunday, but the most prominent cryptocurrency's performance was a bit more tepid during the first full day of trading. Possibly one of only a handful couple of things worth purchasing with bitcoin right now is litecoin. The faster transaction rate and block generations increase supply at more rapid than bitcoin, creating a much larger circulating supply.

With the massive surge, Litecoin also managed to displace Ripple and IOTA from their spots on CMC, in terms of market cap, and now sits on number 4, just under Bitcoin Cash, which has a market cap of over $26 billion, compared to Bitcoin's $18 billion.

The Coinbase cryptocurrency exchange said trading for litecoin was temporarily disabled today, after the fourth-most-valuable cryptoasset soared by 80% in intraday trading.

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"If the size of the Bitcoin mempool is high, transaction fees recommended by the wallet platforms surge and failing to attach high fees could result in a transaction being delayed for many days if the Bitcoin mempool does not clear".

Bitcoin has continued to grab all the headlines and, while some of the news has been negative, has continued to find support this morning, gaining 7% to $15,721 at the time of writing.

For now, it's all to play for however and Litecoin has added a sparkle into the cryptocurrency markets this week, following the launch of the Bitcoin futures contracts on Sunday.

Experts have already anointed Litecoin to be the "silver" to Bitcoin's gold.