Depending on who you listen to, the bear cycle could be over. And Litecoin survived. Many coins have been brutally damaged or killed in cryptos latest bear phase. Litecoin not only survived the bear attack but is now in or nearing the top 10. Recently surpassing Polygon (Matic) and Polkadot.
It appears that Litecoin has its blue laser eyes focused on Solana. This Proof of Work coin is overcoming some of the glamorous venture capitalist supported Proof of Stake coins. A pretty sight to see.
The good news for Litecoin doesn't stop there, many cryptos are hurting because of Operation Chokepoint 2.0. Many exchanges supporting various coins are folding. Coins are being deemed securities by the SEC and exchanges are getting worried about holding them. Robinhood and others are delisting many popular coins. One thing you will not find being delisted, is Litecoin. Why? Litecoin has been determined as a commodity by many thought leaders in the space (and even mentioned by the SEC) as a commodity. Exchanges aren't overly worried about listing and allowing trading for a coin that may officially be deemed a commodity. Whether you agree with the regulation or not, Litecoin appears to be safe. Litecoin plays exceptional defense, has withstood the attack, and is gearing up to go on the offensive. People are building on Litecoin, and new types of exchanges are dipping their toes in the ecosphere of Litecoin. Wall street is clearing a path for a new exchange, EDX.
Many people (especially U.S. retail) at the moment, will simply not be able to buy many of the various cryptocurrency coins. Bitcoin, Litecoin, Ethereum, and Bitcoin Cash appear to be the ones that have no fear of being regulated away from centralized exchanges. Other coins are being regulated out of the game. Why does Ethereum get a safe pass? I really don't know, and it's probably just because its so big as the #2 crypto.
True, decentralized exchanges and the spirit of decentralization lives on in the grander crypto market. However, network effect matters. And if regulation hurts other coins while helping Litecoin, the network effect of Litecoin will grow and support its longevity. Why buy a coin with regulatory uncertainty? This is just one of many reasons why Litecoin is headed in the right direction. I still think Litecoin holds the edge technologically over many other coins. The limited amount, the low transaction fees, the portability, and the security are some of the original reasons people who love Litecoin think it will continue to rise. Go Litecoin! Now that Litecoin has reached $90 who knows where we will go:
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