Why coins like Litecoin failed to make it big ?

Taskford

hero member

Activity: 2520

Merit: 783

Quote from: arhipova on June 28, 2024, 09:05:24 AM

There was a time when litecoin was under top 10 in market cap. It has many advantages also like less fees in transfer and faster transfer time. Still if we see current position, it is number 21 based on market cap. Why have coins like litecoin failed to make it big ? Did they lack marketing budget and it caused this issue ?

Maybe because it always been compare with bitcoin but people figure out that bitcoin is more better that's why the attention goes with BTC and not for LTC. Also when people discuss about altcoin investment usually majority goes if not with those new coins or tokens listed in the market they go with Ethereum and Solana then LTC is been out of discussion that's why it didn't get any big movements just like what other curious people thought about this coin.

But don't worry even if they are way behind by bitcoin and other altcoins which surpass this coin from the list LTC still a good coin to acquire. Maybe for now it didn't get much attention and it gets less discussion but for sure LTC is a good coin to have rather than those meme coins or any shitcoins around.

re-start

member

Activity: 156

Merit: 58

Free City Individual

Litecoin will remain one of the top in the market even if it is ranked 20th. Litecoin is one of the old currencies and it may be in the investment portfolio of many digital currency activists. But you made a good point. Litecoin needs an advertising-marketing or an important news to return to its original position. But we must know that Litecoin will not go away easily.

X-ray

hero member

Activity: 3038

Merit: 526

Leading Crypto Sports Betting & Casino Platform

Quote from: Coin_trader on June 28, 2024, 09:14:42 AM

Litecoin hype was died when their own Founder decided to sold his holdings long time ago when the price is on ATH. There’s no big development happening on this project already since it just follow Bitcoin footsteps unlike other blockchain that innovate with the current trend in the world of DeFi that boost the valuation of the project.

It’s simple, if the founder itself decided to take profit on his holdings then why will you invest heavily on a project that a developer not holding his majority of shares. This show weakness to the project.

https://www.reddit.com/r/litecoin/comments/7kzw6q/litecoin_price_tweets_and_conflict_of_interest/?st=jbf703n1&sh=70857870

Also right now the trend is smart contract based blockchain, even bitcoin has many L2 that enables people with bitcoin to utilize it and interact with smart contract meanwhile Litecoin is just the same ol' coin like it was back in the past.
totally reasonable why people just don't really find investing in litecoin to be interesting anymore.

not to mention that the price of lite coin in this bullish just don't really get any heat and decide to stay linear for the entire year, people are starting to forget this coin in favour of other more hyped up coin such as BTC, ETH, BNB, SOL and so on.
there's just simply no bright future with this coin in my opinion.

peter0425

sr. member

Activity: 2618

Merit: 439

Quote from: arhipova on June 28, 2024, 09:05:24 AM

There was a time when litecoin was under top 10 in market cap. It has many advantages also like less fees in transfer and faster transfer time. Still if we see current position, it is number 21 based on market cap. Why have coins like litecoin failed to make it big ? Did they lack marketing budget and it caused this issue ?

I don’t think ranking at 21 is a bad thing and should be considered a failure. Many altcoins do not even reach top 50 and they just end up dying. Litecoin is not really popular even among crypto enthusiasts like how Solana is or Ton nowadays even if litecoin is not doing so bad.

It just feels like it’s just there, existing with not much glamour and glitter. Since there were talks about etf litecoin maybe that will push it to become more popular.

goaldigger

sr. member

Activity: 2422

Merit: 357

Quote from: arhipova on June 28, 2024, 09:05:24 AM

There was a time when litecoin was under top 10 in market cap. It has many advantages also like less fees in transfer and faster transfer time. Still if we see current position, it is number 21 based on market cap. Why have coins like litecoin failed to make it big ? Did they lack marketing budget and it caused this issue ?

Innovation, many projects becomes more innovative and active when it comes to promoting their project. With Litecoin, we failed to see a good development aside from their halving which I think is not that ok for the investors. I believe, old coin is having a hard time to compete with new projects and introduce a more innovative progress on their platform, Though LTC remains in top 20+, there’s still a chance for it to climb higher again.

nelson4lov

hero member

Activity: 2212

Merit: 805

Top Crypto Casino

Imo, Only Bitcoin, Ethereum and XRP has stood the test of time on the top 10 ranked list. Every other one has since gone down. For Litecoin, it's due to some reasons. I'd list some I'm aware of:

— Bitcoin clone with no updates or innovation over the years.
— Litecoin may have cheap transaction fees but it's bound to suffer the same fate as ETH and Bitcoin has suffered in recent times and in the past.
— Founder sold and moved on a long time ago. Other members of their community too.

Basically, Once Litecoin wasn't perceived as a top 10 worthy project, people just moved on to the next best thing.
—

DiMarxist

sr. member

Activity: 448

Merit: 264

Quote from: arhipova on June 28, 2024, 09:05:24 AM

There was a time when litecoin was under top 10 in market cap. It has many advantages also like less fees in transfer and faster transfer time. Still if we see current position, it is number 21 based on market cap. Why have coins like litecoin failed to make it big ? Did they lack marketing budget and it caused this issue ?

I can also remember in the December period when Litecoin was used by many people in the forum here too and people were using it to received pay. But recently the coin is voiceless. Nobody makes mentioned of the coin any more. And I believed the coin has not issue with network congestion. I really don't know why the coin has gone down to that position but it was good in the crypto market.

Stalker22

legendary

Activity: 1526

Merit: 1359

I would say Litecoin is far from a failure. It is still around in the top 10 cryptocurrencies, or close enough, by trading volume anyway - not just market cap. And thats pretty impressive since its been around as one of the OG altcoins. I mean this thing is ancient in crypto years. Thousands of fly-by-night coins have come and gone since Litecoin showed up, but it remains relevant and

I know the price doesnt jump off the page but Litecoin still has its niche among traders and believers who respect its longevity and security. The tech aint fancy but it works. So while it doesnt grab headlines anymore, you cant exactly call it dead either. Litecoin is just plugging along steadily at its own pace after all these years. And not many cryptos its age can say that.

bluebit25

sr. member

Activity: 1708

Merit: 295

https://bitlist.co

Although it is not a category that interests me, I also have the feeling that in the altcoin space, litecoin still has interest from the community and it can completely receive unexpected pumps. Although at different times we talk about fud, technology, finance,... also to draw attention to any project, like the surprise that exists without a reason "why? "

I just took a look at the chart where it's going, there's a bit of technical interest that I think at this price level would make sense to accumulate, but anyway, it's up to each of us to make our own decisions reviews that fit your own category.

passwordnow

hero member

Activity: 3108

Merit: 577

Leading Crypto Sports Betting & Casino Platform

Quote from: arhipova on June 28, 2024, 09:05:24 AM

There was a time when litecoin was under top 10 in market cap. It has many advantages also like less fees in transfer and faster transfer time. Still if we see current position, it is number 21 based on market cap. Why have coins like litecoin failed to make it big ?

It didn't failed because if it does, we're not seeing it anymore on that the top coins list on the rnakings. Because check out all of the other altcoins that have been known during its popular time, they're never known by the new comers today. But take a look at litecoin, it's still known widely and still being used for its purpose for having cheaper and faster transactions.

Quote from: arhipova on June 28, 2024, 09:05:24 AM

Did they lack marketing budget and it caused this issue ?

Not really but I think one factor that it fell to its rank was due to the fact when Charlie Lee announced his departure from this project and said that he has sold most of his Litecoin holdings already. And just as Bitcoin, Litecoin don't need any marketing at all. The early projects like this have got privilege for being one of the first projects to appear. It's the silver of Bitcoin as it's labelled as that so, the chance was on it already and that's why it didn't need any marketing at all.

JeffBrad12

hero member

Activity: 2954

Merit: 533

Leading Crypto Sports Betting & Casino Platform

Quote from: arhipova on June 28, 2024, 09:05:24 AM

There was a time when litecoin was under top 10 in market cap. It has many advantages also like less fees in transfer and faster transfer time.

The golden days of Litecoin have passed and it is now nothing more than a coin relied upon bitcoin's name. Litecoin had no advantages at all. These days, litecoin is nothing, and it is not comparable to more scalable blockchains with several features, such as SOL or TON.
I can send my money through the TON blockchain with no fees and it takes only one second to get to its destination. Litecoin is a sluggish blockchain.

Quote from: arhipova on June 28, 2024, 09:05:24 AM

Still if we see current position, it is number 21 based on market cap. Why have coins like litecoin failed to make it big ? Did they lack marketing budget and it caused this issue ?

Even its creator had sold his litecoin bags a few years ago, and no further developments were planned. Litecoin lacks everything, starting with TPS, Utility, and so on.

d3nz

sr. member

Activity: 1372

Merit: 264

Quote from: mu_enrico on June 28, 2024, 10:25:15 AM

Quote from: Coin_trader on June 28, 2024, 09:14:42 AM

Litecoin hype was died when their own Founder decided to sold his holdings long time ago when the price is on ATH.

Yep, after Charlie Lee dumped his coins into the holder, LTC is basically "dead." It might not be an instant death, and there's still a pump, but it can't rise over its previous market cap position.

Moreover, too many coins have similar purposes, only for payment, such as Bitcoin Cash, XRP, Doge, etc. So #20 on the market cap is actually good, considering how outdated the technology is.

I don't think LTC will go beyond its ATH, and it doesn't have any purpose at all you're right that it is only used for payment transactions but I think that more people will switch to much faster and less fee transactions. And I would say that LTC will surely go dump its price time after time if people will no longer invest or use it for transactions.

AVE5

full member

Activity: 350

Merit: 128

Quote from: arhipova on June 28, 2024, 09:05:24 AM

There was a time when litecoin was under top 10 in market cap. It has many advantages also like less fees in transfer and faster transfer time. Still if we see current position, it is number 21 based on market cap. Why have coins like litecoin failed to make it big ? Did they lack marketing budget and it caused this issue ?

Cryptocurrencies are units of digital currencies with competitions of which currency will stay at the top trends. The reason litecoin may have lost its market value position is as simple that the developers failed to keep the coins domain update with some sorts of marketing strategies potentialed to create new innovation around the projects to attract more investors.

mu_enrico

copper member

Activity: 2324

Merit: 2142

Slots Enthusiast & Expert

Quote from: Coin_trader on June 28, 2024, 09:14:42 AM

Litecoin hype was died when their own Founder decided to sold his holdings long time ago when the price is on ATH.

Yep, after Charlie Lee dumped his coins into the holder, LTC is basically "dead." It might not be an instant death, and there's still a pump, but it can't rise over its previous market cap position.

Moreover, too many coins have similar purposes, only for payment, such as Bitcoin Cash, XRP, Doge, etc. So #20 on the market cap is actually good, considering how outdated the technology is.

Helena Yu

hero member

Activity: 728

Merit: 633

Because people don't give damn with decentralization and privacy.

If Bitcoin isn't the mother of cryptocurrency, I don't expect Bitcoin will be the top cryptocurrency and unbeaten in the last decade. Most coins that stay in the top 10 are supported by centralization, that's why Litecoin fell to #20.

But there's a rumor LTC ETFs will be launched, this might able to pump the price.

pawanjain

hero member

Activity: 2702

Merit: 716

Nothing lasts forever

Quote from: Coin_trader on June 28, 2024, 09:14:42 AM

Quote from: arhipova on June 28, 2024, 09:05:24 AM

There was a time when litecoin was under top 10 in market cap. It has many advantages also like less fees in transfer and faster transfer time. Still if we see current position, it is number 21 based on market cap. Why have coins like litecoin failed to make it big ? Did they lack marketing budget and it caused this issue ?

Litecoin hype was died when their own Founder decided to sold his holdings long time ago when the price is on ATH. There’s no big development happening on this project already since it just follow Bitcoin footsteps unlike other blockchain that innovate with the current trend in the world of DeFi that boost the valuation of the project.

It’s simple, if the founder itself decided to take profit on his holdings then why will you invest heavily on a project that a developer not holding his majority of shares. This show weakness to the project.

https://www.reddit.com/r/litecoin/comments/7kzw6q/litecoin_price_tweets_and_conflict_of_interest/?st=jbf703n1&sh=70857870

That's right. Even I had heard this news few years back when Litecoin founder was in news and was about to sell his holdings.
The hype literally died around Litecoin and that's the major reason why it's not on the top of the list.
It just became a stale altcoin since last few years.

Coin_trader

copper member

Activity: 2800

Merit: 1179

Leading Crypto Sports Betting & Casino Platform

Quote from: arhipova on June 28, 2024, 09:05:24 AM

There was a time when litecoin was under top 10 in market cap. It has many advantages also like less fees in transfer and faster transfer time. Still if we see current position, it is number 21 based on market cap. Why have coins like litecoin failed to make it big ? Did they lack marketing budget and it caused this issue ?

Litecoin hype was died when their own Founder decided to sold his holdings long time ago when the price is on ATH. There’s no big development happening on this project already since it just follow Bitcoin footsteps unlike other blockchain that innovate with the current trend in the world of DeFi that boost the valuation of the project.

It’s simple, if the founder itself decided to take profit on his holdings then why will you invest heavily on a project that a developer not holding his majority of shares. This show weakness to the project.

https://www.reddit.com/r/litecoin/comments/7kzw6q/litecoin_price_tweets_and_conflict_of_interest/?st=jbf703n1&sh=70857870

Charles-Tim

legendary

Activity: 1512

Merit: 4795

Leading Crypto Sports Betting & Casino Platform

Litecoin is bitcoin carbon copy. Although, it is decentralized like bitcoin but other projects that are a bit different from bitcoin came and people went for them instead as they see potential means to make money from it. I also noticed that people are gambling on what is trending. You can see how new coins of less than 4 years ago have been the ones that rose more in price this time while those like Polygon did not that increased in price. That is why you will see most altcoins not getting to all-time high.

arhipova

member

Activity: 136

Merit: 16

There was a time when litecoin was under top 10 in market cap. It has many advantages also like less fees in transfer and faster transfer time. Still if we see current position, it is number 21 based on market cap. Why have coins like litecoin failed to make it big ? Did they lack marketing budget and it caused this issue ?

Topic: Why coins like Litecoin failed to make it big ? (Read 121 times)