Litecoin (LTC) founder Charlie Lee details how high he thinks the 13th largest crypto could rise in the next bull market.
Lee tells are a million Twitter followers that Litecoin has value because the project has created a unique niche for itself.
According to Lee, Litecoin has managed to stay operational for more than a decade with no downtime while offering cost-effective rates.
“It is hard to deny that Litecoin has value, a coin that has a low cost, is protocol compatible with Bitcoin, has the same game-theoretic attack surfaces as Bitcoin, is secured with its own set of ASIC (application-specific integrated circuit) miners, is reasonable launched and has an 11.5 year history with no downtime.
The maker of Litecoin also says that LTC is currently reasonably priced, but he believes the altcoin has more room for growth as it has undergone significant upgrades in recent years.
“The market currently values Litecoin at just over 1% of Bitcoin. Is that fair? I think the market is right today, but Litecoin has huge potential. It has higher throughput by design and scalability with extension blocks and better fungibility and privacy of MWEB (MimbleWimble Extension Blocks).
MWEB was launched in May 2022 and is considered one of the biggest updates to Litecoin. MWEB allows users to send confidential LTC transfers without revealing how much money the senders have at their address.
Lee continues participation that he could see Litecoin rise as high as $719 in the next bull run.
“I see a 10% upside target (0.025 LTC/BTC worth $719). In the next bull market, 5% (0.0125 worth $359) should not be too hard to reach. I honestly don’t see it going much lower than 1% ($0.0025 worth $71.94). The next halving will be in ~92 days. This is going to be fun.”
At the time of writing, LTC is trading at $88.67, suggesting more than 710% upside potential should Litecoin reach Lee’s target.
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