Transaction costs have been one of the most noted drawbacks of several cryptocurrencies. It’s the single reason Ethereum shifted from PoW to PoS. The move cut electricity costs by 99% to lower gas fees (gwei) of trading. Litecoin has aged gracefully unlike other top 10 coins however. And today the cryptocurrency took to twitter to remind people its averaging under US$0.01 in fees per transaction.
“The average fee for a Bitcoin transaction is less than a penny,” tweeted the crypto-brand Friday afternoon. The elder digital currency highlighted their achievement to make the Metaverse take notice.
And this could be one of the reasons the token is an investment to watch in 2023.
Litecoin ranks very highly on the list of coins with minimal gas costs.
Top 7 Cryptos By Lowest Transaction Fees
- Solana ($SOL)
- XRP ($XRP)
- Stellar ($XLM)
- Dogecoin ($DOGE)
- TRON ($TRON)
- Litecoin ($LTC)
- Dash ($DASH)
Litecoin by Market Cap
Of those top 7 coins listed only Dogecoin ranks above Litecoin by Market cap. $LTC is the 12th most popular token of 2023 by market capitalization with US$5.46-Billion being reported by crypto.com. The second oldest crypto ranks 1 place below DAI ($5.74B) and 1 above Polkadot ($5.41B) with far less promotional efforts than other brands.
With Litecoin being 12th most popular by market capitalization and rated the 6th most economical coin to use in transactions (by fees), it has a bright future.
Litecoin Prediction For 2023
Currently valued at US$77.36, it’s highly possible the token could see its all-time high of $371.15 again in 2023. This is much dependent on a Bull run that some analysts predict should happen in February however.
If that does not happen, it is still highly unlikely the coin will find a much lower floor price. Litecoin has not seen below $60 USD since 3rd quarter 2021. Since then both the Lightning Network and MimbleWemble (MWEB) have both been integrated into LTC payments to improve performance. And to add to the upgrades of tokenomics, the third halving of block rewards will occur.
Don’t be surprised if this “under 1 penny per transaction” tweet becomes the winning formula to Litecoin leaping back into the Top 10 of cryptocurrencies by market cap this year. “Save your money” is a reminder that’s better than any over-hyped promise or well-written news update on added technology.