The trading of Litecoin on world exchanges started at the end of July 2012. During that year, the Litecoin value was under 10 cents. It did not have the same demand as Bitcoin during its first few months. These were tough times for the new currency.
Everything changed in less than a year. It suddenly got attention. The name started to grow. Values reached $4.49 in the beginning of April 2013. This shocked many of the Litecoin users. Most sold their coins right away during the time.
Litecoin’s price had fallen since then. By October 2013, it was priced at $1.7-$2. Price movements were up and down. This is a feature known to most currencies of the same kind.
After a month, prices started to go up. The beginning of November saw prices increase. This continued for the whole month. By December, it reached a record of $42.97.
From $42.97, the Litecoin value started to go down. Before the end of December 2014, its price reached just above $3. By the beginning of January 2015, it was only above $1. These were testing times for Litecoin.
After the sudden Litecoin value changes, the cryptocurrency started to rise from this low point. It never went down that low since then. This provided users with hope.
The Litecoin value was stable in 2015. Prices went over $3 by July 2015. Since then, the price stayed within the $3 mark.
Litecoin’s price chart for 2015 had two major events. First was at the end of July where it reached $5. Second was in November. It was over $4. Many expected big changes in 2015. These instances led to the growth of the market again.
Another famous event for Litecoin involved an unknown user. This individual started a scheme. It involved Litecoin. He accepted deposits only in the cryptocurrency. Large sums of dividends were offered. Accounts for new investments opened. Participants received profit. All of this came from dividends and the increase of Litecoin value. The organizer was said to take over 6 million in litecoins. He then fled with the amount of about $18 million.
This event greatly affected the currency and its value. Thankfully, the growth of Bitcoin during the time affected it as well. It eventually helped the prices scale once more.
By the start of 2016 Litecoin found stability. Users were happy once more. This means the Litecoin value still has the room for growth. Experts criticized the currency for its conservative features. However, everything changed in 2016 and 2017.
Litecoin is similar to Bitcoin. It is a peer-to-peer currency. You can use it to send and receive money via the Internet. Convenience is the key here.
See what Litecoin has to offer. Take advantage of its unique features, including the Litecoin wallet. Who knows, you might have fun exploring it.