The Bitcoin-like coin Litecoin has surged over 10% in the last couple of days. This surge is being attributed to the fact that Litecoin’s Lightning Network went over 100 nodes recently.
The Litecoin is seeing double-digit gains in the market because its lightning network has just crossed over 100 nodes and is expected to be driven further up with more adoption of the Lightning Network.
With a lot of talk going on in the community of Bitcoin attaining the same status as gold, Litecoin is being heralded as the silver of the market. Litecoin is being called the silver to Bitcoin’s gold.
The team at Litecoin have also come out and said that the Lightning network is only now translating into price variation, for the good, because at the time of launch there was no urgency to adopt the technology and hence there were only a handful of nodes for the same.
According to a recent statement released by Litecoin, “Litecoin’s Layer 1 blockchain remains free from congestion thanks to its 4x quicker block time, allowing it to process roughly 4x as many transactions than its big brother Bitcoin over the same time period.”
The team also claims that the Litecoin blockchain is predominantly congestion free because of the introduction of the Litecoin Lightning Network.
Given the rise following the announcement, Litecoin has been performing quite well in the past two days. The cryptocurrency is currently trading at $35.37 USD. And is showing double-digit gains to the tune of 10%.
The coin has been the butt of many a critic saying that the coin lacks innovation and is just a copy of the Bitcoin with a few tweaks here and there, but with all that being said, the Litecoin price seems to speak for itself.
The coin is performing just well and pays little to no regard for what the outer community has to say about the way it does business. The Litecoin community is strong and the price is a direct reflection of it.
Litecoin is currently trading at $35.37 USD.
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