Find the best broker for your trading or investing needs It has been just a few days since the litecoin blockchain was forked, and so far, litecoin cash (LCC) has failed to make much of a splash. It appears that the offshoot of the popular digital currency has yet to draw in a following.
After a small spike in price late in the week, at which point litecoin cash climbed above $7 per token, the new cryptocurrency fell to around $3 over the weekend. This means that litecoin cash is just a tiny percentage of the value of the official litecoin project.
A report by Coindesk explores the first few days of the new cryptocurrency’s existence and attempts to explain why investors have yet to take particular interest in LCC so far. Litecoin cash was valued at close to $1.40 and surged all the way up to an all-time high of $9.25 on February 20, shortly after it launched.
This constituted a leap of nearly six times. Even by the standards of extreme volatility which are hallmarks of the cryptocurrency space, this represents an impressive start for the new token.
Litecoin itself also benefited from the fork and the quick gains for LCC, as litecoin’s value climbed while investors secured their holdings on the fifth-largest digital currency in the world in an effort to secure more litecoin cash at the time of the fork. Following this impressive beginning, though, LCC has sputtered. Read more from investopedia.com…
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