Litecoin takes the lead in the race against Ripple

Considerable changes have occurred in the last weeks of the year 2020 for the world of cryptocurrencies, leaving people waiting for new events who still seem to be spectators of this surprising competition to reach the top of the most quantified in the current market.

Among the first 3, Ripple could be reflected previously in third place, however, the considerable increase in prices and other events that will be mentioned in the following article, have put Litecoin in third place for a while, raising expectations of many by 2021.

How big was the growth?

It is estimated that the increase in Litecoin from last month to today was approximately 100 percent in a powerful market rally, however, it has to be mentioned that one of the things that cause this growth was the fall of Ripple (XRP) and the flow transmitted towards Litecoin and the most popular altcoin on the market.

From what has been taken into account recently, there is a type of institutional force that is directly influencing the growth of Litecoin, where the Grayscale Litecoin Trust (LTCN) has more than 145 million assets under its management.

The main reason

However, it should be mentioned that regardless of the different existing reasons why the digital silver currency has increased its price considerably, it is nothing more and nothing less than the development of the final protocol for the LTC MimbleWimble code, which has filled the developers with great enthusiasm.

On the other hand, the activation of this project will be decided by both the Litecoin miners and their community, as one of the developers, David Burkett, mentioned in one of his tweets:

“I first attempted to design a secure way to support one-sided MimbleWimble transactions back in January. Nearly one year and a dozen or so design iterations later, we finally have working code!”

The enthusiasm that David has on par with the other developers and Charlie Lee with this coming quarter of the year is quite high considering the possible outcomes for the coin.

Real-time price

Currently, the price of Litecoin is in the range of $154, when in previous days it reached $ 167, taking place in the first 3 positions. Considering this, expectations continue to remain high despite the fact that the price remains stable and the positioning reaches the top 5 according to coinmarketcap.

Conclusion.

After the protocol is initiated, increases for the silver coin are taken into consideration, which is expected to occur in the first quarter of 2021, so it will not belong to wait for this to happen.

For this reason, many investors, traders, and holders are looking for the most suitable moment to carry out the imperative movements that generate a change in their economy. Everything will depend on the decisions taken in the coming months.

Risk warning: Trading forex and CFDs with leverage carries a high risk of losing money. This page is for information only and is not investment advice.