01 Aug Litecoin Price ‘Massively Discounted’: Cryptocurrency Analyst
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Supporters of litecoin often tout the sixth-largest cryptocurrency as “silver to bitcoin’s digital gold,” but one cryptocurrency says it’s also a diamond in the rough.
Writing in an eight-page report published on Tuesday, eToro senior market analyst Mati Greenspan argues that the litecoin price is trading at a “massive discount to what it should be worth.”
Greenspan bases this assessment and several technical and fundamental factors.
Technical Features
On the technical side, he notes the importance of Litecoin, a Proof-of-Work (PoW) blockchain, being the dominant coin mined using the scrypt algorithm. As long as this remains the case, Litecoin will remain highly-resistant to 51 percent attacks since there is not enough surplus hashpower to mount an assault on its network.
He also lauds Litecoin’s developers for structuring the cryptocurrency as a complement to Bitcoin rather than a competitor, enabling LTC to tether itself to the flagship cryptocurrency by…
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