I'm just think what's the reason behind why many people creating many addresses because Litecoin project doesn't promote their coins just like other crypto projects and usually most people know Litecoin after they know Bitcoin first.
I think Litecoin is deserve to get place on top 10 CMC because it's considered as a silver of gold (Bitcoin), though the project seems have very slow development and would likely just become like this in the future.
Topic: Crypto Adoption, Litecoin Wallets Rated Highest. (Read 94 times)
Well if the ranking was based on new wallet downloads, then it is erroneous to correlate it in such a way that it seems Litecoin is the top coin in regards to crypto adoption, because we both know that's not true, i don't really know too much about Litecoin, but i've prolly heard a thing or two good things from its users, and i'm glad quite a lot of people find it useful, but Bitcoin is basically the crypto that has an actual utility globally, that is why its adoption globally is something that is in continuous growth everyday, and sometime down the line, mass global adoption will be complete. Having said that, we can't even verify if this source is authentic and if the information provided is accurate, but it doesn't really matter if they are shilling, those who are knowledgeable still know the truth.
According to this information, it is very difficult to say that the coin has become in great demand. But it can be assumed that the coin has become a great authority in the cryptocurrency market. And it would certainly have become known that the LTC coin has been in great demand lately. But so far no one has heard of it. So you can continue to observe and draw your own conclusions.
I believe it's pretty much a shill.
I can't even find any mention regarding how these statistics were collected, and for sure there is a lot of uncertainty in this. Measuring adoption solely based on the number of downloads per wallet is shouldn't be concluded, what it means by adoption does not align with download. And if the detail of the data in this particular case doesn't exist, well it's pretty much a made up number.
After all, we'll surely get a better insight about adoption if the data are based on on-chain data.
Although the process of the rating was based on number of new wallets download which to.me may not be accurate for this kind of rating
I can't even find any mention regarding how these statistics were collected, and for sure there is a lot of uncertainty in this. Measuring adoption solely based on the number of downloads per wallet is shouldn't be concluded, what it means by adoption does not align with download. And if the detail of the data in this particular case doesn't exist, well it's pretty much a made up number.
After all, we'll surely get a better insight about adoption if the data are based on on-chain data.
As you have said, this is not that accurate though, maybe a user can have many wallets as well so it's not really a good gauge. But as we all know of, Litecoin is like a small brother to Bitcoin and maybe that is why up to this day it is still very relevant for some uses or maybe there are still a lot of investors on Litecoin and hoping that in the next bull run, it will have a good price. And if you look at the price still median at $50.00++, so that is still affordable for the majority of investors.
This ranking is based on percentages only. It is unlikely that this rating, like most rankings, shows any true alignment of forces and priorities in crypto adopting. It looks more like a case when they try to present information at a favorable angle, and cause some kind of excitement around the coin. LiteCoin may be better than Bitcoin in absolutely everything, faster than Bitcoin, etc., but it loses in bitcoin's global adoption, and in the number of new users around the world, and that is the most important thing.
So I was surfing through Reddit today and I stumbled open thos rating, and going through raised a lot of questions in my head, as to what extent that Litecoin rated highest in cryptocurrency adoption.
Although the process of the rating was based on number of new wallets download which to.me may not be accurate for this kind of rating, but a lot of litecoin fans are.of positive mindset that this is an indication of wider community acceptance of the coin because of it roles and the utility usage and flexibility of the coin compared to.other coins like Ethereum and bitcoin.
Source: https://www.reddit.com/r/litecoin/comments/x1hw8e/litecoin_adoption_continues_to_outpace_bitcoin/?utm_medium=android_app&utm_source=share
Although the process of the rating was based on number of new wallets download which to.me may not be accurate for this kind of rating, but a lot of litecoin fans are.of positive mindset that this is an indication of wider community acceptance of the coin because of it roles and the utility usage and flexibility of the coin compared to.other coins like Ethereum and bitcoin.
Source: https://www.reddit.com/r/litecoin/comments/x1hw8e/litecoin_adoption_continues_to_outpace_bitcoin/?utm_medium=android_app&utm_source=share
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