1. QiAi QuestsHome
  2. Metaverse & Beyond

Why can’t I buy Litecoin (why can’t Litecoin rise in 2021)

• Metaverse & Beyond • 54 views

Why can’t I buy Litecoin Today we mainly analyzed some key problems of Litecoin and why can’t I buy Litecoin The first one is that LTC prices fluctuate greatly (although many may consider it a niche project, it does not have much investment value). The second reason is that people are too worried about the price of Litecoin because it is too unstable. The third reason is that due to its anonymity and the possibility of being hacked and manipulated in some cases, when this happens, it will affect other parts of the market, such as users, communities, and other stakeholders. The last reason may be that many Cryptocurrency holders are extremely greedy. The three reasons are Bitfinex, the largest exchange on the Bitcoin network, and Wu, CEO of Ethereum Foundation

Why can’t Litecoin rise in 2021

In the past few months, Bitcoin has been the leader of the Cryptocurrency market. However, not long ago, as the price of Bitcoin soared to around $10000, Litecoin did not rise as expected. Its market value fell from $1 billion last year to about 1.2 billion now. It was even reported that the unstable market sentiment led to similar problems in shanzhai coins, including the prices of XRP and BSV tokens are also constantly dropping; But at the same time, LTC’s recent performance has not been as strong as expected According to CoinMarketCap data, as of June 15th, there are nearly 80000 addresses worldwide with over 100 BTCs. These holders are currently worth approximately $377 million (at today’s prices), which is a huge expense. But if this money is spent, what will happen to the remaining assets of over $200 million locked in the custody account? The answer is: In the past two weeks, a total of over $2 billion has been transferred to one address. This number is much higher than the high point in May 2019, when the value was close to $150 million. In addition, the exchange has sent an email to some users requesting them not to trade Bitcoin. Although both websites support payment using Bitcoin, there seems to be no good way to prevent people from transferring or redeeming them In fact, many investors are waiting for the upcoming halving market. However, the cost of gas on Ethereum network has declined this year. At present, the daily consumption is about 25Gwei, which means the cost per hour has reached millions of gas For many people, this situation may be due to the potential negative impact of ETH2.0 upgrades on ETH. Because this will enable miners to perform their tasks more effectively and reduce costs Therefore, many analysts believe that 2021 may be the weakest year for LTC/USDT, but it will continue to decline in the following year and a half

For example, since mid July 2020, three different types of block production events have occurred on the Ethereum network:. The second time was the “TheDAO” hacker attack that occurred in late 2016, when someone attempted to obtain rewards by destroying ETH. (Note: TheDAO is a decentralized autonomous organization of the Ethereum blockchain) The main purpose of the second phase is to complete the upgrade by the end of 2020.

This article and pictures are from the Internet and do not represent qiAiAi's position. If you infringe, please contact us to delete:https://www.qiaiai.com/metaverse/22070.html

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 08/05/2023 01:48
Next 08/05/2023 02:10

Related recommendations