Litecoin (LTC) is a fork of Bitcoin BTC/USD that came into existence in 2011. The cryptocurrency was created by former Google engineer Charlie Lee as an adaption of the apex coin's source code.
In 2014, Dogecoin DOGE/USD , the bellwether meme coin, implemented Auxiliary proof-of-work following Lee's suggestion. This has allowed the two coins to be merge mined. In a way, Dogecoin is a relative of Litecoin.
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The Investment: LTC saw a spike in its price on Tuesday night. At the time of writing, in the early hours of Wednesday, LTC was trading 28.9% higher intraday at $79.84.
However, the LTC price is still way below the all-time high of $412.96 it hit on May 10, 2021.
Should an investor be persuaded by the recent spike in LTC price to invest $100 in the coin, here's how much they'd have if the price returns to an all-time high once again. ?? Investment Date Of Purchase/Listing Purchase Amount Purchase Price Units/Shares Obtained Worth If Price Bounces To LTC All-Time High Percentage Change Litecoin (LTC) Nov. 23, 2022 $100 $78.84 1.27 $523.80 423.80%
The investor's $100 can potentially turn into $523.80 if LTC goes all the way back to its May 2021 ATH level. The gain, in this case, would be 423.8%.
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