Litecoin’s Competition Against Ethereum Is Getting Tighter And Tighter. How Will The Second Cryptocurrency In The World React?


In 2015, precisely July 30 is a year to remember, as Ethereum is born. Ethereum was created for developers who want to build and make smart contracts available. Over time Ethereum has established itself as one of the most efficient and famous crypto and networks in the world. Competition in the crypto world has increased more and more over the years.

Among the competitors is Litecoin, one of the latest cryptocurrencies on the market. The OmniLite project launched this cryptocurrency. This project consists of a decentralized token creation platform with which Litecoin makes its smart contracts and functionalities available on NFTs. Many refer to this project as the “Ethereum Killer”. Not only Litecoin, but Cardano also fits into this category

How to evaluate these cryptocurrencies and where they stand relative to Ethereum

For the evaluation of individual cryptocurrencies, the TVL volume of transactions and the interest of the developers are taken as indicators. Obviously being more established, Ethereum has an advantage over the aforementioned cryptocurrencies. However, this does not mean that the other platforms are not used by users. In fact, the networks on which cryptocurrencies such as Cardano and Litecoin are based are constantly growing.

Not only that, other cryptocurrencies have also seen their value grow. This is thanks to the massive spread of platforms, such as Binance, Kraken that allow the community of investors to be able to trade cryptocurrencies. The growth was organic, thanks to the excellent activity of the developers of the individual networks.

Every investor looks to the future, that is, to the possible value of these digital assets. The growing value of crypto alternatives to Ethereum are the result of positive expectations from analysts and investors.

Can Ethereum Grow Further?

A year and a half ago, there was no such massive activity on Ethereum as is happening in recent times. According to Ryan Watkins of Messari, Ethereum can already own and secure $ 700 billion of assets.


As for transactions, the total volume remained under $ 100 billion in all quarters of 2019. During 2020 there was a sensational growth, 5 times that of 2019, with over 577 billion dollars moved

Ethereum Graphic Analysis

Since July, Ethereum’s rally has brought its price from $ 1,788 to $ 4,025. As expected, there was a correction, but not as violent (-12%). Ethereum is now holding the $ 3,367.62 level as support, corresponding to the resistance that lasted throughout August, which broke at the end of last month.

After the downside, the RSI drops significantly, finding itself in a calm zone. Volumes are still too low, so the American markets are expected to open for more information. The holding at $ 3,367.62 is a sign of the strength of the current primary bullish trend.

For a look at all of today’s economic events, check out our economic calendar

This article was originally posted on FX Empire



Leave a Comment