The founder of Litecoin reveals a price target for LTC during the next bull run and claims that the altcoin has a great deal of potential
Charlie Lee, the inventor of Litecoin (LTC), describes how high he believes the thirteenth-largest cryptocurrency could rise in the next bull market.
Lee reassures his one million Twitter followers that the Litecoin project is worthwhile because it fills a specific need.
According to Lee, Litecoin has been operational for over a decade with no outages and low transaction fees.
The creator of Litecoin also asserts that LTC is fairly priced at present, but he believes the altcoin has more space for development given the substantial enhancements it has undergone in recent years.
“Currently, the market values Litecoin at barely more than 1% of Bitcoin. Is that just? I believe the current market is accurate, but Litecoin has enormous potential. Better fungibility and privacy can be achieved by using MWEB (MimbleWimble Extension Blocks), and it is designed to have a higher throughput.”
MWEB was released in May 2022 and is regarded as one of Litecoin’s most significant enhancements. MWEB enables users to send private LTC remittances without disclosing the amount of money in the sender’s address.
Lee speculates that Litecoin could reach $719 during the subsequent bull run. “I can envision a potential upside of 10% (0.025 LTC/BTC worth $719). Gains of 5% (0.0125 times $359, or $1,359) should be manageable in the next upswing.”
At the time of writing, LTC is trading for $88.67, indicating an upside potential of over 710% if Litecoin reaches Lee’s goal.
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