Litecoin (LTC) moved down to $56.15 in 24 hours

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Litecoin (LTC) had a bad 24 hours as the cryptocurrency declined $-0.68 or -1.20% trading at $56.15. According to Global Crypto Analysts, Litecoin (LTC) eyes $61.765 target on the road to $107.661216017062. LTC last traded at Coinbase exchange. It had high of $57.17 and low of $54.86 for March 13-14. The open was $56.83. About 340,949 LTC worth $19.07M traded hands.

Litecoin (LTC) is up 27.82% in the last 30 days from $43.93 per coin. Its up 81.42% in the last 100 days since when traded at $30.95 and the annual trend is down. 200 days ago LTC traded at $57.08. LTC has 60.87M coins mined giving it $3.42B market cap. Litecoin maximum coins available are 84.00M. LTC uses Scrypt algorithm and PoW proof type. It was started on 13/10/2011.

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Litecoin LTC – provides faster transaction confirmations (2.5 minutes on average) and uses a memory-hard, scrypt-based mining proof-of-work algorithm to target the regular computers and GPUs most people already have – which are its main differentials to Bitcoin. The Litecoin network is scheduled to produce 84 million currency units with a halving in reward every four years just like bitcoin. The coin was created by a Google employee, Charles Lee. Litecoin is in second spot to Bitcoin and has spawned numerous clones – however it has a solid base of support and dedicated development team.

The Litecoin project is currently maintained by a core group of 6 software developers, led by Charles Lee, with a large community that is growing in support.

In May 2017, Litecoin became the first of the Top 5 (By Market Cap) cryptocurrencies to implement the SegWit scaling solution. Later in May of the same year, the first Lightning Network transaction was completed through litecoin, transferring 0.00000001 LTC from Zurich to San Francisco in under one second.