In the report, eToro breaks down Litecoin’s technological and economic advantages relative to other cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Dash (DASH), Bitcoin Cash (BCH), and Ethereum Classic (ETC).
The majority of the report covered the comparison between Litecoin and Bitcoin, detailing why Litecoin became known as the “silver” to Bitcoin’s “gold”.
Litecoin, being cheaper, more numerous and permitting faster and quicker transactions, aims to become a standard for smaller transactions, while Bitcoin can remain as the coin of choice for very large payments and store of value.
According to eToro, Litecoin’s widespread adoption is superior in terms of total addresses, transactions, and trading volume to many of the competing cryptocurrencies. Perhaps most notable is the fact that Litecoin’s ratio of market cap to daily active users is the lowest among all of the analyzed digital currencies, except for Dash.
eToro also emphasized the fact that Litecoin has a working product, which is a missing factor among most of the top-100 cryptocurrencies.
Given that Litecoin has an established and stable working product, as well as significant adoption, this bear market of the whole cryptocurrency industry could have lead to Litecoin being oversold.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.