For years the word in the cryptocurrency universe was that Ethereum was the new silver. This appears to have changed over the weekend. A research report released by one of the most respected analysts in the business argues that ETH has been dethroned.
The replacement candidate may come as a surprise to many. According to Mati Greenspan of LTC Market Research, Litecoin is the new digital silver. If this is the case, then it is an earth shattering development in the digital assets universe. Mati Greenspan is the expert and analyst who is renowned in the cyrptocurrency field. He was quick to make this judgment on Litecoin that few had expected. In fact, Greenspan is bullish on LTC for several solid reasons.
Litecoin Boasts A Highly Established Network
His report starts with words that have shaken the foundations of the cryptocurrency universe. “If Bitcoin is digital gold, then Litecoin is digital silver.” The differences between LTC and BTC are subtle. Litecoin is a great deal more like currency than a value store.
LTC has only ten percent of the market cap of ETH. This does not explain why it has been named the replacement for the digital currency silver standard. Judging by the market cap numbers, Bitcoin Cash should be the replacement if any digital asset rivals ETH.
Litecoin does have a highly established merchant network. It might be like the E-Toro analyst claims, among the best in the digital assets universe “by far.” It is true that many clients are already relying on it as a means of transacting purchases and services. He calls it as good as fiat money in this report. Their report concludes with the idea that it should all be bullish for LTC prices in the future.
Litecoin Versus Bitcoin: A Battle for the Ages?
E-Toro believes that Litecoin makes an excellent comparison to silver for a variety of reasons. LTC is far less expensive than BTC. Litecoin is also available in a higher quantity. Because it processes much quicker than the venerable cryptocurrency king does, it is often used for smaller transactions as well. Meanwhile BTC is the top digital asset for bigger transactions and payments and for storing value longer term.
Want the latest crypto news? Join our Telegram Channel