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Why can’t Litecoin be transferred (why is Litecoin so weak in 2020)

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There are two reasons why Litecoin can’t be transferred to Litecoin: First, the exchange can’t handle a large number of transactions. Secondly, due to the user receiving the wrong token address when receiving LTC, the number of LTCs sent to the other party is insufficient to pay all the handling fees for that address (actually BTC), which makes many transfers “invalid”

Why can’t Litecoin move? The reasons are as follows:

1. Due to some transactions not being confirmed, for example, during certain time periods, a user’s ETH balance may be taken away by others If someone transfers a large amount of ERC20 tokens to another address through multiple wallets, they will need to redo the transfer operation 2. If users want to transfer their assets from the exchange back to the exchange and complete the transfer operation or transfer these assets out, they do not need to wait for a long time to resume the transfer

Why is Litecoin so weak 2020

Editor’s note: This article is based on evidence, and Odaily Planet Daily is authorized to reprint it

2020 is an unforgettable year for Cryptocurrency. At the end of 2020, when the price of Litecoin soared to about $2, there was a sharp decline. In the last two days of 2019, due to factors such as the halving of Bitcoin, the merger of Ethereum and the upgrade of ETH2.0, the encryption market fell sharply, and the total market value of the entire encryption market also fell sharply below $1 trillion. During the bull market in early 2018, prices briefly exceeded $1000, and subsequently quickly fell back to over 100 times; Since the beginning of April this year, the price of Litecoin has begun to decline, and it rebounded slightly again after reaching the lowest level of 0.1 US dollars; But just before the end of June, there was another brief adjustment, and the current price is still hovering around 0.8. If the future trend remains poor, there is a possibility of facing greater market volatility; Therefore, although the market has improved in the past few weeks, its prospects are not optimistic in the long run. At the end of 2017, with the upgrade of Ethereum 2.0 and the launch of Ethereum Layer-2 network, Litecoin became one of the most concerned digital assets. In the first quarter of 2020, the market value of Litecoin exceeded USDT for the first time. At the beginning of 2019, its token value has exceeded the US $300000 mark; As of press release, the current price of LTC with a market value of 1.3 million US dollars is only 0.08 US dollars per piece; Since the middle of 2020, its price performance has been significantly stronger than that of Bitcoin. As of August 26, Litecoin, the token with the second largest market value, has shrunk by nearly 50% (about 20 billion yuan). However, in the recent round of selling, Litecoin did not seem to have any advantages as some people said. (Note:

Source: coinmarketcap) In the middle of December 2019, according to BitInfoCharts data, the trading volume of Litecoin since the beginning of 2017 has reached US $1 billion; The average daily number of online transactions in March 2018 was 55000, which means that the number of Litecoin users nearly tripled in the same period last year, an increase of more than 30% over 2017. In the second quarter of 2020, the number of active addresses of Litecoin hit a new high, reaching 500000. However, by the end of the third quarter of 2020, the number of active Bitcoin addresses had decreased to 400000. Since then, new addresses have been registered every day. This trend shows that even users without new accounts recently are difficult to use Litecoin for daily transactions. However, in the long run, investors will still choose to deposit some funds in Litecoin. Although many early adopters believed that Litecoin could solve these problems, some insiders said that it might cause losses to a broader portfolio – they said, “We see people increasingly worried that price increases will hinder its development,” in addition, analysis shows that,

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