With Litecoin focused on providing quick payments to its users Monero is a privacy based blockchain network. Which of the two will come out on top in 2018?
Litecoin (LTC) and Monero (XMR) are both top 10 market cap coins as of press date. However, both coins have had a fair share of successes and challenges since the beginning of 2018 (similar to the cryptocurrency market in general). Most HODLers and crypto analysts still believe in 2018 being the time to see mass adoption of the technologies and underlying currencies across the globe. Litecoin and Monero projects aim at capturing a share of the new market in the future.
This article highlights a brief comparison of two digital assets; Litecoin and Monero, to track the progress and prospects of these two crypto-based projects as blockchain era takes shape.
Litecoin Vs Monero Fundamental Value
As it would emerge, there has to be good and bad digital assets just like the securities within the financial markets. Litecoin’s purpose is to increase the efficiency of blockchain transactions within its ecosystem while Monero is popular for its privacy level. This is the fundamental value of the two altcoins, already priced by the crypto markets right now with LTC at $54 and XMR at $107. However, Litecoin holds a higher market cap which is almost double Monero’s position.
Litecoin’s instant payments
The Litecoin infrastructure is an open source protocol that enables users to make modifications, run and make copies of software suitable for them under the MIT/X11 license. This makes Litecoin highly scalable enabling the blockchain to handle a larger volume of transactions at a faster rate in comparison to Bitcoin. This is supported by Litecoin’s network’s ability to facilitate block generations more frequently. LTC serves its users within reasonable confirmation spans hence an increase in Litecoin payments, its 24 hour volume is currently well over the $250 million mark!
Litecoin will benefit from Bitcoin’s dominance
Inasmuch as the network provides faster and cheaper payments than Bitcoin, there exists other blockchains such as Stellar (XLM), IOTA (MIOTA) and XinFin (XDCE). Litecoin will however survive to keep Bitcoin alive which may yet give it an advantage over most cryptocurrencies today.
Monero privacy network
Monero on the other hand is a privacy coin facing completion from the likes of Zcash whose protocol is also private-oriented. The XMR ecosystem has brought to the crypto arena a secure, untraceable and private channel of sending and receiving digital assets. This in comparison to Litecoin’s focus is quite different but both coins seem to be making the most of their competitive edges despite the year being mostly bearish.
Monero (XMR) currently ranks as the largest privacy coin (in market capitalization) with ZCash (ZC and ZClassic (ZCL) being the next biggest competition. The fall of Verge (XVG) has been a huge boost to Monero’s success with the successful hard fork earlier in the year also playing a huge role.
Price Analysis: LTC vs XMR
Both Monero and Litecoin have been adopted by a good number of coin exchanges to date. Litecoin is a year older than Monero dating back its initial trading day on April 28th 2013. Since then LTC has had a cumulative return of 1,179.50% while that of Monero in its 4 years of trading stands at 4,212.70%. Clearly, early XMR buyers are currently ripping way more value from their initial investment compared to their Litecoin counterparts.
A poor run for both XMR and LTC in 2018
Both the cryptocurrencies have shown a high level of volatility as is the trend with digital assets, an increase of 150% would be news but not a surprise to crypto speculators. Litecoin’s 30-day volatility is at 28% while that of Monero recorded a 38%. Both altcoins are way below their all-times high, XMR is 78% less than the $494 ATH price when the market rallied in late 2017 while LTC is 85% less than $366. This leaves potential room for breaking these all-time resistance levels once a market correction happens in future!
Both XMR and LTC were affected by the September 6th crypto bloodbath losing 24% and 7% respectively. However, XMR is slowly turning bullish according to the 1.12% increase in its price in the last 24 hours. LTC on the other hand has improved by a mere 0.02%.
All-time charts XMR vs LTC (Image: WalletInvestor)
In conclusion, both projects stand a good survival chance in the crypto space, although market correction might set the prices within a range out of analysts’ expectations given the uncertainty in coin markets today.