Litecoin {LTC} declines as losses impact performance; can the Foundation recover?

Fibo Quantum

The Litecoin Project has been active for more than 6 years. This peer-to-peer cryptocurrency network has been a top-ranked venture since its inception. However, recent rumors suggest that Charlie Lee and others at the Litecoin Foundation may be running out of viable options.

Lee sold all of his LTC back in December 2017 and January 2018. According to the latest report by Trustnodes published a day back, merchandise attracted far less attention compared to the previous year’s situation. Charlie Lee claims that the Foundation has around $200k left, which might help them skate by for the next 2 years.

The development of the mainchain is being scrutinized to this day. While Litecoin might seem like a great project at first glance, careful research will show one that LTC varies from BTC in several ways. Unless a price surge occurs or a key partnership comes in, the financial hole will keep going deeper. This might cause Lee to abandon ship and disappear [much like Satoshi Nakamoto].

Let’s hope the Summit scheduled for Las Vegas this year is a profitable event.

Litecoin is positioned at #6 in the market. The price decreased at a rate of 2.46% in the course of the past 24-hours; this brought LTC all the way down to $56.86 where it currently holds. The trading volume recorded stands at roughly $2.577 billion, while the supply has 63,443,879 LTC coins involved as part of the circulation. The total market cap of Litecoin amounts to $3.607 billion for now.