The Weiss Rating company evaluates Litecoin as an excellent investment with a very good adoption rate. As far as the investment risk is concerned, it is classified as an environment, which makes the total rating B-.
Weiss ranked Bitcoin first in the B + rating. Ethereum in second place, followed by EOS, Litecoin and Cardano. Iota, Binance Coin, Tron and Ripple are the other cripto rated projects rated B.
The Weiss Rating evaluates Litecoin as an excellent investment and because of the half-way reward that will take place in August this year.
Recently, Weiss has dropped the rating of EOS Cryptomonas because of concerns about centralization of the network.
A slow evolution
Litecoin is an open-source crypto project launched in 2011 as a quicker and cheaper alternative to Bitcoin (BTC). It was initially rated at $ 2.30 with a maximum of $ 54 in November 2013. After it dropped to $ 4.30 and stayed at that value by 2017. That year, the LTC rose to a record high of 375 dollars.
Over the past year, Litecoin remained somewhat volatile, down to $ 23.32 in December 2018. This year’s highest value was $ 141.6 at the end of June.
At present, Litecoin has a market cap of about $ 7.4 billion, while its daily trading volume is about $ 4.9 billion.
Significant developments this year
The Litecoin Foundation, which is behind the LTC, has recently collaborated with Bibox Exchange and the Ternio blockchain company to launch a crypto debit card called “BlockCard.” It will allow users to spend their crypt funds both online and in physical stores locations around the world.
In February, the Foundation collaborated with Beam software development company to explore the implementation of a new protocol that would improve privacy and scalability. Litecoin creator Charlie Lee announced the collaboration on Twitter, pointing out that “fungility is the only property of missing fiasco currencies from Bitcoin & Litecoin.”
Lee argued that “the next stage of development will focus on functionality and confidentiality.”
He revealed that the work of the Foundation will focus on the implementation of confidential transactions. He suggested that this option could be achieved without recourse to a hard fork.