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Digital coins have become vastly used in the last decade, especially, by companies like Tesla and institutional investors adding them to their investment portfolios. Also, it is worth noting the great potential inherent in web3, which is expected to take the crypto industry to a new level of mass usage.
Bitcoin (BTC) maintained its dominance, remaining the best-performing cryptocurrency overall. Ethereum (ETH) has become a worthy rival to Bitcoin due to its innovative and thriving ecosystem. Litecoin (LTC) is another asset, which has continued its dominance over the years.
Bitcoin, as a pioneer of the crypto space, has allowed the world to explore the possibilities of blockchain technology. This coin continues to update the high with each bull cycle. Part of Bitcoin's popularity is due to the astronomical returns of this coin for those who bought it for less than $100. Most of the time, altcoins move in the same direction as Bitcoin. It also has a robust architecture that allows cross-border payments quicker and less expensive than traditional banking systems.
Bitcoin is followed by Ethereum, the number two most popular crypto on the market. The community-driven platform has introduced the power of smart contracts and the utility of decentralized applications (DApps) on public display. Ethereum's popularity is by vi due to its secure technology, which has created a thriving developer ecosystem. In addition, the platform is constantly working to modernize its operations, making them faster and cheaper. In 2021, Ethereum began changing its consensus algorithm from proof of work (PoW) to proof of stake (PoS) and completed this upgrade called The Merge in September 2022. Ethereum effectively finalized another major update known as Ethereum Shanghai which started in April 2023. The update allows ETH stakers to withdraw assets that have been subject to staking on the platform for almost two years.
Litecoin has been existing since 2011 and has maintained its popularity, being considered one of the best coins in the world for making cryptocurrency payments. This digital currency has seen phenomenal growth in recent years. Litecoin is a “lighter” version of Bitcoin and continues to serve as a means for faster and more secure bargains. Litecoin has been around for over 10 years and has proven to be stable and secure. It also has one of the largest and most active communities in the cryptocurrency world that supports its development and innovation. LTC, like BTC, has had several periods of sharp price increases in the past, reaching new record highs. In 2023, the coin is available on many major cryptocurrency exchanges, where it accounts for significant trading volumes. Litecoin is often used as a testing ground for new features and technologies that could potentially be applied to Bitcoin. For example, LTC was one of the first cryptocurrencies to activate SegWit (Segregated Witness) and Lightning Network, two solutions to increase network scalability.
What is the best coin to invest in?
Bitcoin, Ethereum, and Litecoin are some of the most steadfast cryptocurrencies to invest in as they have solid architectures and have stood the test of time, however, it is important to consider their market capitalization, prices, and current changes in the ecosystem.
The successful implementation of the Shanghai Update has shed new light on Ethereum. You can now withdraw your tokens from staking at any time (which was previously impossible as they were locked indefinitely). The update is expected to attract more investors to the project, who will now be able to secure the network without sacrificing liquidity.
Since Bitcoin's halving will not happen until 2024 at the earliest, LTC vs ETH looks like the most profitable investment at the moment, given the upcoming event, which could lead to higher prices in the short term. Additionally, Litecoin has shown phenomenal growth despite downturns in the cryptocurrency market during bear cycles. Although nothing can be guaranteed in the extremely volatile crypto market, buying Litecoin can bring good profits.
These coins, being the main players on the market, can be bought on any exchange, but what if you need to make an MCO to ONT swap, i.e. to exchange not-so-popular assets? Godex anonymous crypto exchange has such an extensive assortment of coins, which diversify your crypto portfolio in a variety of ways.