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As of today, according to the TabTrader Converter, Litecoin is valued at $129.618, with a 24-hour trading volume amounting to $3.76B. LTC has risen by +8.02%% in the past 24 hours and has increased by +90.87%% over the last month. The total supply of LTC is $84M, while the current circulating supply is $75.26M.
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Litecoin (LTC) is a decentralized peer-to-peer virtual currency created from a copy of Bitcoin’s (BTC) source code. Founded in October 2011 (two years after BTC) by former Google engineer Charlie Lee, Litecoin (LTC) is considered one of the first successful altcoins in the industry.
Litecoin (LTC) seeks to improve on some of Bitcoin's shortcomings by offering lower transaction fees, faster block times, higher transaction throughput, and better decentralization.
Bitcoin (BTC) and Litecoin (LTC) are both secured by the proof-of-work (PoW) consensus mechanism but use different hash functions. Litecoin’s (LTC) Scrypt hashing algorithm is more memory-intensive than Bitcoin’s SHA-256, making it less susceptible to ASIC mining dominance.
Additionally, Litecoin has a shorter block generation time compared to Bitcoin, allowing for faster transaction confirmations and quicker network updates.
Due to its fast block times and low transaction costs, Litecoin is widely considered a good fit for microtransactions and point-of-sale payments.
Litecoin (LTC) currently has a market capitalization of $9,755,449,398.15
The current circulating supply of Litecoin (LTC) is $75,262,849.55