Why is Litecoin a Chicken: Organic Growth Vs. Active Promotion
Litecoin (LTC) is one of the leading crypto assets still commanding a comparatively low price with a more gradual rise.
Litecoin is at $100: still a rather modest price compared to Dash, Monero, Ethereum, not to speak of Bitcoin. There is one factor around Litecoin that makes its growth appear stagnant, while in fact being more organic. But the last month saw Litecoin prices pick up again:
Litecoin's publicity has been low-key compared to crypto standards. DASH is perhaps the most prominently promoted crypto asset with the aim of becoming the go-to digital payment system. And its prominence has been boosted by professional PR and a large marketing team.
At the same time, Litecoin has taken up a voluntary approach, slowly accruing talent and promoters, with a relatively small compensation budget.
Top cryptocurrencies except LTC are all backed by well-funded foundations/companies at their core, but Litecoin is maintained by a few volunteers and a foundation with only $400K asset. So I would say Litecoin's tremendous growth this year is mostly organic and healthy.— Xinxi Wang [LTC] (@TheRealXinxi) December 3, 2017
The funds for the Litecoin Foundation are indeed small- compared to the amount poured into the now-defunct Confido ICO. But for those efforts, Litecoin remains one of the most robust digital assets in terms of exchange availability, merchant acceptance and mining.
But in fact the Foundation is well-covered by its crypto holdings, which may give it more influence. What is curious is that the LTC and BTC reserves are named "intangible assets":
Toward the end of 2017, the LTC market price tallies up a score of $100 easily reached and surpassed. LTC hovers around $98, down 4.5% in the past 24 hours.
Litecoin also continues to mark increased transactions that surpass the usage of other digital assets, while adding new users/
If you check the number of active addresses of both Bitcoin and Litecoin at the log scale, you will find Litecoin's growth is also exponential and is so much faster than Bitcoin, which confirms my previous number of tweets per day post here https://t.co/PmVp9fkfxu pic.twitter.com/wn9wjjLyHV— Xinxi Wang [LTC] (@TheRealXinxi) December 3, 2017
The community around Litecoin seems to demand more marketing and perhaps a dedicated conference- a move which has lifted the price of various coins temporarily. But without those moves, LTC market price sees less distortion.
What’s the most critical but missing part in the Litecoin ecosystem in your opinion?— Litecoin Foundation (@LTCFoundation) December 1, 2017
At the same time, Litecoin's founder, Charlie Lee, is only tangentially related to the Litecoin foundation, and instead deals more with general matters of blockchain technology and the potential for future partnerships between Bitcoin and Litecoin.
But Litecoin has attracted further attention, as its highly liquid market has made it appealing to XBT Provider as a crypto asset suitable for the issuance of another Exchange-Traded Note (ETN) along with Bitcoin and Ethereum-based ETNs.