Although Bitcoin is known to be the most popular cryptocurrency in the world, litecoins are actually traded for dollars on a more frequent basis. Speculators seem to love the idea of daytrading litecoins and dollars, which means are frequent swings found in this market every day. Litecoin is often referred to as the silver to Bitcoin’s gold, and it has also been the most successful altcoin up to this point in time. At the end of 2013, the market cap of all the litecoins in existence topped out at around the $1 billion mark.
One of the perks of trading litecoins as opposed to bitcoins is that the currency comes with faster block confirmations. This means that it is easier to move litecoins between different exchanges and wallets, which can make all the difference in the world when a profitable trading opportunity arises. Being traded directly for dollars allows Litecoin to weaken the idea that the altcoin is nothing more than Bitcoin’s little brother.