With cryptocurrencies being more popular than ever, several different “meme” tokens are showing up as well. These meme tokens are basically tokens that are inspired by some social media joke. An example of this is the crypto Shiba Inu that recently took the world by storm. Shiba Inu, which is actually a dog breed, became so popular because of the dog that is the face of Dogecoin. The breed of this dog was a Shiba Inu, which means that since Dogecoin was a memecoin itself, Shiba Inu is a meme coin that came from another meme coin. This meme factor of crypto further explains the popularity of crypto, and how Gen Z became so invested into cryptocurrency.
This dog also happens to be a Shiba Inu(Type of Breed)
However, disregarding the meme coins, most investors know that the three most popular coins are still Bitcoin, Ethereum and Litecoin. As per October 27th, Bitcoin is currently sitting at around $60,000, Ethereum is sitting at around $4,300, and Litecoin is sitting at around $190. As one can tell there is a dramatic difference between the value of these coins and that is what I am going to discuss. Is this vast difference in value of each token truly deserved? Or is it just caused by investors who blindly hop on the waves of “hot” cryptos.
In my opinion Litecoin is the most undervalued crypto by far. The first reason I say this is because of its revolutionary transaction times. While Bitcoin has a transaction speed of around 7 per second, Litecoin doesnt even allow room for debate as its transaction speed is 8 times faster than bitcoins. With 56 transactions per second, payments can be processed more efficiently than ever, leaving no room for buffering or loading within the system. Furthermore, while Bitcoins transaction fee lies at $2.77, Litecoin’s transaction fee only lies at $0.041. This statistic is actually very relevant to the overall use of the coin as a transaction fee is a fee one must pay when transferring a certain amount of that crypto to someone else. This means that in the future if major stores like Target, Walmart and many others start to accept crypto, Bitcoins transaction fee will slowly but surely “hurt someone’s pockets”. Lastly, it is also estimated that the number of Litecoin tokens will surpass the number of Bitcoin tokens in circulation. For the average Joe this means easier accessibility when it comes to purchasing things with crypto. Even though this act has not yet been normalized, soon as companies start to trust it more and more, Litecoin has a good chance of surpassing Bitcoin due to its unmatched characteristics.