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Litecoin [LTC] hasn’t achieved its final objective yet, despite its success, claims Charlie Lee

Biraajmaan Tamuly

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Litecoin [LTC] hasn't achieved its final objective yet, despite its success, claims Charlie Lee
Source: Pixabay

In a recent episode of Unchained Podcast, Charlie Lee, the creator of one of the market’s leading altcoins, Litecoin, discussed his vision behind Litecoin and where it was heading in the future.

Lee revealed that he bought Bitcoin [BTC] when its valuation was $30 per coin. After he made his first investment, the coin plummeted significantly in value, dropping down to just $2.

Laura Shin, host of the Unchained podcast, asked Lee about how the price fall affected his early perception regarding cryptocurrency. Lee responded by stating that he was still convinced that cryptocurrencies had a future as the fundamentals hadn’t changed. The prices fell owing to the initial hype, but the idea behind the development of crypto did not vary, Lee claimed. Hence, Lee decided to remain patient with his initial investment in Bitcoin

When Lee was asked why he created Litecoin, he explained that he wanted to develop a virtual asset that would have faster blocks and cheaper transaction fees than Bitcoin [BTC]. This followed his failure with Fairbrix, Lee’s first crypto project.

He stated,



“I wanted to develop a crypto which was as fair as possible. I realized people don’t want to invest and put effort into a coin that is unfairly benefiting the creators rather than the investors.”

Charlie Lee went on to say that despite the success of Litecoin, it was yet to achieve its objective. He stated,

“The general idea is just to have more and more places that you can spend Bitcoin and Litecoin. For it to be truly successful you have to be able to spend it anywhere.”

Additionally, Lee mentioned that he would have liked to have remained anonymous as the creator of Litecoin in the community. Being a prominent figure in the community affected his privacy and also raised concerns over his security, he added.





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Biraajmaan is an engineering graduate who is exploring the ever-changing crypto verse while traversing his passion for cryptocurrency news writing. He is a Chelsea fan and a part-time poet and does not hold any value in cryptocurrencies yet.

Altcoins

Tron [TRX] DApps surpass Ethereum, EOS in terms of weekly active and new users

Namrata Shukla

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Tron [TRX] DApps surpass Ethereum and EOS in terms of Weekly active and new users
Source: Pixabay

Tron [TRX], the eleventh largest coin on CoinMarketCap, has been crossing new milestones recently, with its block height and partnerships. Despite the coin performing rather poorly in a relatively bullish market, its adoption and the popularity of its DApps have made Tron lead the DApps market.

Tron’s popular proponent, Misha Lederman, shared with the community Tron’s recent achievement. Compared to Ethereum [ETH] and EOS, Tron registered a higher number of new users and active users. It noted 60k new users, while Ethereum reported 25K and EOS reported 9k. The active users on Tron’s DApps platform were 172k, followed by EOS with 170k and ETH with 54k.

Lederman in his tweet commented,

“#TRON growing fastest in terms of new users among Top 3 platforms:
New Users:
TRON 60K; #ETH 25K; #EOS 9K
Active Users:
TRON 172K; EOS 170K; ETH 54K”

Source: Twitter

Source: Twitter

He added that BitTorrent Speed’s launch in Q2 would provide Tron and BitTorrent users with BTT as an incentive for seeding, which might lead to a growth in the user base of TRX and BTT.



Source: Twitter

Source: Twitter

According to Tron foundation and BitTorrent CEO Justin Sun, TRX will make its way into the top 10 by the end of June, whereas BTT will be a part of top 30 by Q2. However, Tron’s current market cap is $1.87 billion, whereas Cardano [ADA] on the tenth position reported a market cap of $2.12 billion.

At press time, Tron was valued at $0.0279, with a market cap of $1.87 billion. The 24-hour trading volume of the coin was noted to be $664 million, as it fell by 2.80% in a day. TRX managed to register 12.60% growth over the past seven days. However, it fell by 0.53% in an hour.





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