Litecoin (LTC) Price

Litecoin is an open source software project which makes use of the MIT/X11 licence. It is extremely similar to Bitcoin with regard to the technical details. In fact, it was inspired by Bitcoin. Litecoin allows the creation of coins and also their transfers by making use of an open source cryptographic protocol. As with Bitcoin and other cryptocurrencies, the entire ecosystem is decentralised and free of governmental supervision.

What is Litecoin ?

Litecoin was released by Charlie Lee who had previously been employed by Google. According to the official website, Litecoin is a peer-to-peer Internet currency. Also, users incur close to no cost in order to make payments to anyone in the world as it is a global payment network. The entire network is embedded in mathematical logic and helps individuals take control of the way their finances are handled. Litecoin also aims to reduce the amount of time taken to process a block compared to Bitcoin. Where Bitcoin takes about ten minutes, Litecoin aims to accomplish the same in about 2.5 minutes. The maximum number of coins available via Litecoin was higher compared to Bitcoin. Also, Litecoin is capable of handling a higher transaction volume compared to Bitcoin. Litecoin made use of a different algorithm compared to Bitcoin, making it faster. Thus, in essence it is a lighter more improved version of Bitcoin.

Where to buy Litecoin ?

Litecoin (LTC) can be bought on sites like Coinbase, BitPanda, CEX.io and Bitstamp. Users can either buy litecoin on these sites using a credit or debit card or they can opt to buy other cryptocurrencies and then exchange those for litecoins. Binance and Changelly are good options for exchanging various cryptocurrencies for litecoin.

Litecoin Wallet

Litecoin also makes use of a wallet that allows the user to secure their wallet using a strong wallet encryption method. The user can access the details of the wallet including the details of transactions performed and the balance amount remaining in the wallet without making use of a password. But, in order to spend litecoins, the user has to enter a password which will then be verified. Thus, the user cannot inadvertently spend their stock of litecoins. Since a password is required to spend litecoins, there is a strong layer of protection against viruses that might take control of the system or wallet the user is employing to trade in litecoins.

Litecoin Mining

Litecoin can be mined. At present, people who mine litecoins are rewarded with 25 litecoins per mined block. The plan is to halve the number of reward litecoins every four years or for every 840,000 blocks that are mined. The total number of litecoins that will be made available will be 84 million litecoins. It is worth noting that this is a four-fold increase over the total number of units that Bitcoin aims to make available.

Litecoin Price trends

In mid-April, 2018, one litecoin was worth about $140 (USD). Historical data indicates that the price of litecoins peaked in the period leading up to December 2017 and January 2018. This was a period of gain for most cryptocurrencies since that is when there was a strong public interest in such currency as a form of investment. Then, as public interest waned, the price of litecoins also decreased with time. But what is truly surprising is that litecoin went from being valued at less than $10 (USD) to over $320 (USD) within a very short span of time. In addition to this, the price later dropped to less than $160 (USD). Thus, we can see that there was a sea change in prices within a short duration. The historical price trends for litecoin for the duration of one year is indicated in the table.

DateOpenHighLowCloseVolumeMarket Cap
Nov 12, 2018 51.48 51.68 50.47 50.65 388,194,000 2,994,928,763
Nov 11, 2018 52.32 52.47 50.25 51.36 410,262,000 3,036,594,687
Nov 10, 2018 51.93 52.70 51.84 52.40 322,713,000 3,097,146,196
Nov 09, 2018 52.36 52.72 51.67 51.90 386,711,000 3,066,513,267
Nov 08, 2018 54.19 54.46 52.37 52.37 351,857,000 3,094,006,430
Nov 07, 2018 56.04 56.16 53.71 54.19 385,412,000 3,200,474,366
Nov 06, 2018 53.70 55.95 53.48 55.95 371,534,000 3,259,562,075
Nov 05, 2018 53.59 54.71 53.11 53.55 398,133,000 3,161,333,292
Nov 04, 2018 50.99 55.14 50.82 53.61 441,533,000 3,164,416,254
Nov 03, 2018 51.30 51.36 50.76 50.97 325,128,000 3,007,885,629
Nov 02, 2018 50.34 51.66 50.32 51.33 362,726,000 3,028,256,022
Nov 01, 2018 49.56 51.03 49.42 50.27 321,492,000 2,964,981,244
Oct 31, 2018 49.34 49.94 48.32 49.44 410,734,000 2,915,348,345
Oct 30, 2018 49.00 49.48 48.79 49.24 295,448,000 2,887,799,217
Oct 29, 2018 51.83 52.03 48.65 49.07 373,076,000 3,054,204,570
Oct 28, 2018 52.05 52.17 51.48 51.94 335,237,000 3,066,355,015
Oct 27, 2018 52.13 52.36 51.77 51.93 312,308,000 3,070,047,775
Oct 26, 2018 52.22 52.48 51.73 52.10 292,908,000 3,074,810,554
Oct 25, 2018 52.49 52.51 52.06 52.23 241,117,000 3,089,888,051
Oct 24, 2018 52.46 53.01 52.29 52.52 291,042,000 3,087,306,325
Oct 23, 2018 52.24 52.87 51.94 52.54 278,025,000 3,073,626,002
Oct 22, 2018 52.78 53.11 52.01 52.20 263,337,000 3,105,086,439
Oct 21, 2018 53.43 53.77 52.71 52.92 273,510,000 3,142,581,401
Oct 20, 2018 53.07 53.46 52.80 53.36 258,418,000 3,120,212,638
Oct 19, 2018 52.55 53.60 52.24 53.02 272,130,000 3,089,273,466
Oct 18, 2018 53.72 53.99 52.13 52.53 296,411,000 3,156,909,399
Oct 17, 2018 54.26 54.26 53.09 53.67 295,022,000 3,188,369,110
Oct 16, 2018 54.97 55.48 53.67 54.07 281,917,000 3,228,721,070
Oct 15, 2018 52.17 57.46 51.91 54.88 431,765,000 3,063,982,050
Oct 14, 2018 53.51 53.84 52.03 52.19 242,221,000 3,141,598,417
Oct 13, 2018 53.46 54.28 53.21 53.45 237,333,000 3,137,736,209
Oct 12, 2018 50.87 53.82 50.87 53.55 280,891,000 2,985,455,276
Oct 11, 2018 57.98 57.98 50.99 51.23 343,098,000 3,401,374,732
Oct 10, 2018 58.66 58.66 57.43 57.98 358,009,000 3,440,890,274
Oct 09, 2018 59.45 59.53 58.21 58.71 318,545,000 3,485,888,879
Oct 08, 2018 58.23 59.82 57.48 59.41 347,408,000 3,413,814,427
Oct 07, 2018 57.93 58.36 57.21 58.16 435,270,000 3,395,548,147
Oct 06, 2018 58.88 58.92 57.27 57.84 375,900,000 3,449,817,015
Oct 05, 2018 58.33 59.13 57.67 58.77 371,790,000 3,417,091,206
Oct 04, 2018 57.52 59.05 57.44 58.28 343,602,000 3,368,882,119
Oct 03, 2018 59.58 59.58 57.08 57.48 452,464,000 3,488,398,355
Oct 02, 2018 60.30 61.25 59.41 59.71 444,830,000 3,530,057,719
Oct 01, 2018 61.10 61.73 59.74 60.21 456,583,000 3,575,833,193
Sep 30, 2018 61.63 62.39 60.15 61.14 463,002,000 3,605,714,979
Sep 29, 2018 61.64 62.03 59.49 61.61 356,028,000 3,605,938,631
Sep 28, 2018 63.17 64.42 60.81 61.90 459,862,000 3,694,341,294
Sep 27, 2018 57.45 64.30 56.92 62.98 574,277,000 3,358,935,258
Sep 26, 2018 57.45 59.62 56.70 57.40 294,136,000 3,358,146,782
Sep 25, 2018 58.02 58.15 54.74 57.54 351,579,000 3,390,746,706
Sep 24, 2018 61.34 61.34 57.30 57.97 296,366,000 3,583,790,265
Sep 23, 2018 60.55 63.19 60.00 61.37 304,888,000 3,536,650,635
Sep 22, 2018 60.81 61.71 57.74 60.44 298,424,000 3,551,269,062
Sep 21, 2018 56.78 62.06 56.46 60.72 398,550,000 3,314,968,599
Sep 20, 2018 54.37 57.15 53.64 56.63 260,631,000 3,173,459,237
Sep 19, 2018 54.02 54.92 52.26 54.33 271,642,000 3,152,041,510
Sep 18, 2018 52.29 55.10 51.00 54.10 296,552,000 3,050,639,534
Sep 17, 2018 57.02 57.75 51.85 52.54 261,325,000 3,325,555,080
Sep 16, 2018 56.58 57.37 55.06 56.97 253,978,000 3,299,168,865
Sep 15, 2018 56.34 58.40 56.18 56.71 252,020,000 3,284,120,510
Sep 14, 2018 54.65 58.44 53.32 56.58 336,190,000 3,184,827,073
Sep 13, 2018 51.88 55.05 51.76 54.54 295,074,000 3,022,963,505
Sep 12, 2018 52.39 52.41 47.67 51.66 290,357,000 3,051,719,206
Sep 11, 2018 54.61 54.78 51.08 52.37 272,379,000 3,180,107,654
Sep 10, 2018 54.99 56.07 53.50 54.60 251,240,000 3,201,828,775
Sep 09, 2018 53.27 56.40 52.72 54.92 253,320,000 3,100,996,124
Sep 08, 2018 56.13 57.61 52.58 53.24 223,684,000 3,266,162,074
Sep 07, 2018 57.34 58.12 55.51 56.20 229,626,000 3,336,112,275
Sep 06, 2018 58.32 58.32 54.91 57.49 351,270,000 3,392,254,978
Sep 05, 2018 67.67 68.12 58.44 58.44 409,226,000 3,934,880,105
Sep 04, 2018 65.32 68.98 65.23 67.71 308,206,000 3,797,429,073
Sep 03, 2018 65.82 66.20 64.32 65.37 235,034,000 3,825,380,407
Sep 02, 2018 65.98 66.90 64.33 65.65 265,104,000 3,834,196,980
Sep 01, 2018 61.74 67.25 61.74 65.95 306,586,000 3,586,539,202
Aug 31, 2018 60.42 62.25 59.32 61.93 265,252,000 3,509,223,899
Aug 30, 2018 61.77 62.03 58.92 60.32 219,094,000 3,586,334,101
Aug 29, 2018 63.03 63.39 60.74 61.77 220,637,000 3,658,762,571
Aug 28, 2018 60.23 63.40 59.62 63.02 246,764,000 3,495,213,551
Aug 27, 2018 57.26 60.42 56.93 60.25 228,072,000 3,322,225,838
Aug 26, 2018 58.05 58.11 56.24 57.33 206,572,000 3,367,399,961
Aug 25, 2018 57.92 58.21 57.37 57.91 187,571,000 3,359,086,797
Aug 24, 2018 57.60 58.28 55.95 57.93 194,676,000 3,339,735,942
Aug 23, 2018 55.19 57.81 54.39 57.54 205,125,000 3,199,198,043
Aug 22, 2018 56.66 59.01 54.38 55.32 228,893,000 3,283,311,296
Aug 21, 2018 53.77 56.80 53.77 56.35 187,486,000 3,115,224,954
Aug 20, 2018 57.91 58.55 53.98 54.00 244,192,000 3,353,997,581
Aug 19, 2018 57.22 58.74 56.54 57.94 204,484,000 3,313,462,882
Aug 18, 2018 61.56 62.03 55.80 57.28 243,057,000 3,563,463,493
Aug 17, 2018 55.33 61.51 55.19 61.51 263,383,000 3,202,237,916
Aug 16, 2018 54.54 57.43 54.51 55.36 211,779,000 3,155,571,817
Aug 15, 2018 54.68 58.95 54.30 54.50 282,699,000 3,163,069,897
Aug 14, 2018 57.00 57.05 51.16 54.56 250,440,000 3,296,807,676
Aug 13, 2018 59.48 60.60 56.31 56.85 223,061,000 3,439,377,606
Aug 12, 2018 58.22 61.71 57.96 59.33 276,383,000 3,365,435,195
Aug 11, 2018 59.49 59.80 55.67 58.36 259,948,000 3,438,106,385
Aug 10, 2018 63.98 64.93 58.86 59.39 259,781,000 3,696,593,391
Aug 09, 2018 62.47 65.58 61.30 63.98 270,095,000 3,608,822,421
Aug 08, 2018 68.16 68.16 62.14 62.49 313,187,000 3,936,491,327
Aug 07, 2018 74.00 75.23 68.13 68.17 299,418,000 4,272,623,450
Aug 06, 2018 75.06 76.59 72.79 73.89 265,134,000 4,332,627,259
Aug 05, 2018 73.38 75.00 72.69 74.59 265,627,000 4,234,412,046
Aug 04, 2018 77.42 77.82 72.76 73.20 262,765,000 4,466,615,542
Aug 03, 2018 76.30 77.57 74.47 77.54 298,295,000 4,400,933,177
Aug 02, 2018 77.71 78.54 75.61 76.14 285,466,000 4,481,269,783
Aug 01, 2018 80.39 80.73 76.40 77.86 301,530,000 4,634,665,748
Jul 31, 2018 82.69 82.94 76.81 79.70 319,362,000 4,766,077,935
Jul 30, 2018 84.15 84.71 80.60 82.85 313,998,000 4,849,456,855
Jul 29, 2018 84.05 85.21 83.38 84.08 276,696,000 4,842,466,816
Jul 28, 2018 84.54 84.63 82.83 83.62 279,804,992 4,869,081,088
Jul 27, 2018 83.73 85.22 82.04 84.46 358,798,016 4,821,521,408
Jul 26, 2018 86.28 88.02 83.19 84.03 286,579,000 4,966,810,000
Jul 25, 2018 88.66 89.92 85.41 86.28 310,157,000 5,102,440,000
Jul 24, 2018 82.68 89.29 81.93 89.29 440,573,000 4,757,310,000
Jul 23, 2018 83.23 86.05 82.31 82.43 296,071,000 4,787,580,000
Jul 22, 2018 84.26 84.63 82.87 83.16 245,917,000 4,845,890,000
Jul 21, 2018 82.66 85.25 80.67 84.46 246,153,000 4,752,440,000
Jul 20, 2018 86.68 86.68 82.42 82.75 287,448,000 4,982,580,000
Jul 19, 2018 86.90 88.83 85.79 86.67 307,786,000 4,993,770,000
Jul 18, 2018 89.82 93.65 86.03 86.96 375,429,000 5,160,440,000
Jul 17, 2018 84.30 90.31 83.00 89.81 341,836,000 4,842,040,000
Jul 16, 2018 78.96 84.60 78.21 84.60 307,904,000 4,533,970,000
Jul 15, 2018 76.70 79.65 76.02 78.94 230,467,000 4,403,320,000
Jul 14, 2018 76.97 77.54 76.18 76.72 197,776,000 4,417,610,000
Jul 13, 2018 77.29 78.43 76.11 76.94 256,038,000 4,434,770,000
Jul 12, 2018 78.59 78.59 75.31 76.81 267,397,000 4,508,380,000
Jul 11, 2018 76.13 80.80 76.07 78.70 284,915,000 4,365,970,000
Jul 10, 2018 80.78 80.88 75.38 76.08 321,614,000 4,631,730,000
Jul 09, 2018 82.54 83.26 80.75 80.86 263,326,000 4,731,470,000
Jul 08, 2018 86.26 86.68 82.18 82.40 239,655,000 4,943,290,000
Jul 07, 2018 83.40 86.20 80.70 86.20 238,937,000 4,778,260,000
Jul 06, 2018 83.84 84.60 81.32 83.38 253,160,000 4,801,850,000
Jul 05, 2018 85.65 86.67 82.54 83.76 306,122,000 4,904,710,000
Jul 04, 2018 85.17 89.12 84.02 85.49 282,222,000 4,876,070,000
Jul 03, 2018 85.39 89.28 84.73 85.10 343,901,000 4,887,240,000
Jul 02, 2018 80.27 86.27 78.69 85.26 302,471,000 4,593,140,000
Jul 01, 2018 81.50 81.61 78.36 80.24 343,402,000 4,662,740,000
Jun 30, 2018 78.95 83.24 78.95 81.37 276,550,000 4,515,210,000
Jun 29, 2018 74.81 80.18 73.17 78.77 309,339,000 4,277,420,000
Jun 28, 2018 80.63 81.04 74.44 74.93 263,414,000 4,608,940,000
Jun 27, 2018 76.93 81.34 75.86 80.66 274,128,000 4,396,790,000
Jun 26, 2018 81.82 82.50 76.85 76.87 258,433,000 4,674,780,000
Jun 25, 2018 80.37 86.07 79.02 81.83 458,366,000 4,590,840,000
Jun 24, 2018 82.74 83.39 74.29 80.78 449,885,000 4,725,190,000
Jun 21, 2018 97.88 98.87 96.36 96.93 261,544,000 5,585,770,000
Jun 20, 2018 98.96 99.20 95.97 97.99 261,392,000 5,645,730,000
Jun 19, 2018 98.73 100.82 97.40 98.84 284,982,000 5,631,290,000
Jun 18, 2018 95.77 99.81 93.91 98.82 282,938,000 5,461,460,000
Jun 17, 2018 97.72 98.66 95.53 96.10 242,331,000 5,570,890,000
Jun 16, 2018 96.58 98.35 93.97 97.58 259,325,000 5,504,580,000
Jun 15, 2018 101.12 101.12 95.60 96.68 293,285,000 5,761,820,000
Jun 14, 2018 93.99 102.42 93.61 101.15 367,742,000 5,354,700,000
Jun 13, 2018 100.80 102.42 93.61 101.15 367,742,000 5,354,700,000
Jun 12, 2018 107.43 108.06 99.37 100.75 333,163,000 6,116,840,000
Jun 11, 2018 106.54 108.85 104.12 107.52 331,430,000 6,064,930,000
Jun 10, 2018 117.56 117.56 104.08 107.04 399,890,000 6,690,700,000
Jun 09, 2018 120.11 121.03 117.74 117.74 242,235,000 6,833,840,000
Jun 08, 2018 121.52 121.95 118.70 120.08 285,831,000 6,912,170,000
Jun 07, 2018 121.34 123.18 119.62 121.43 365,670,000 6,900,220,000
Jun 06, 2018 121.89 122.14 118.56 121.18 324,158,000 6,929,530,000
Jun 05, 2018 119.90 122.01 116.44 121.70 300,892,000 6,814,300,000
Jun 04, 2018 125.21 126.33 118.73 119.9 299,781,000 7,114,600,000
Jun 03, 2018 123.28 127.37 122.37 125.50 322,787,000 7,003,430,000
Jun 02, 2018 119.83 123.89 118.95 123.31 310,800,000 6,805,430,000
Jun 01, 2018 118.03 120.20 117.12 119.92 290,886,000 6,701,530,000
May 31, 2018 117.32 120.59 116.64 118.07 297,183,000 6,659,590,000
May 30, 2018 119.54 122.38 116.02 117.53 305,275,000 6,784,180,000
May 29, 2018 111.84 121.96 110.90 119.57 350,520,000 6,345,820,000
May 28, 2018 117.93 119.08 111.48 111.60 295,723,000 6,689,480,000
May 27, 2018 118.50 118.85 116.99 117.99 258,727,000 6,720,320,000
May 26, 2018 119.35 122.25 117.87 118.28 275,851,000 6,766,700,000
May 25, 2018 122.56 124.20 117.82 119.44 297,743,000 6,946,970,000
May 24, 2018 119.19 124.37 115.89 122.61 345,858,000 6,754,480,000
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Risks associated with litecoins

As can be seen from the table containing the historical data, it is noticeable that it has had a very high volatility. This makes it a risky investment for those looking to make a safe investment. Thus, it is recommended that people invest in traditional investment avenues like mutual funds instead of spending money on buying cryptocurrencies. As with all cryptocurrencies, litecoin also runs the risk of being banned or prohibited by a number of governments and other regulatory bodies.

Litecoin Recent News and Developments

  • The price of Litecoin (LTC) token has not witnessed a discernible bull run since the months of December and January. In that period, the price of 1 LTC token soared up to be valued at more $330 from a mere $80 in a matter of one month. In January, the price started to go down, signalling the start of a broader bear run. By early February, the price had dipped below the $150 mark.
  • However, in mid-February, the Litecoin token staged a small recovery to reach its previous level above the $200 mark. Once again, this rise was followed by another gradual drop. This pattern of ups and downs was seen over the course of the next few weeks. Eventually, the Litecoin cryptocurrency descended below the $100 mark in late June and failed to rise noticeably thereafter. In September, it went below the $60 mark and through the course of October, the token was mainly valued at levels close to $55

Disclaimer:

"The Reserve Bank of India (RBI) and Ministry of Finance has frequently cautioned the users, holders and traders of virtual currencies regarding the potential economic, financial, operational, legal, customer protection and security related risks associated in dealing with virtual currencies. RBI also further clarified that it has not given any licence/authorisation to any entity/company to operate schemes or deals related to Bitcoin or any virtual currency. RBI has also barred its regulated entities from dealing or providing services to any individual or business entities dealing with cryptocurrency. The Ministry of Finance has also officially stated that virtual currencies are not legal tender or coin.

A&A Dukaan Financial Service Private Limited (“BankBazaar”) does not endorse investing or dealing in virtual currencies in any manner. The information provided on our website is solely for illustrative purposes and should not constitute investment advice or assistance in investing or dealing with crypto currencies. If you decide to invest or deal in cryptocurrencies, you should be aware that you will be dealing with the respective individuals or business entities dealing in cryptocurrency and BankBazaar has no role in any manner in such transactions or dealings. We strongly advise our visitors to invest in legally recognised financial instruments rather than risking their capital on virtual currencies which are unregulated instruments."

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