Litecoin, one of the biggest coins in the crypto money market, managed to rise up to $ 350, but then went down. Litecoin, which currently has a price of $ 51, has seen a decline compared to a few months ago. However, a price of $ 50 for Litecoin, according to Multicoin Capital, from crypto-money-based hedge funds, is too much.
Litecoin Doesn't Deserve Its Existing Value
Multicoin, a Texas-based hedge fund, has released a new article with its managing partner, Tushar Jain.
Jain cites the increase in Litecoin's 2017 experience with the investors' novice and the cryptocurrency of the crypto money market. To strengthen his argument, Jain states that Litecoin was the cheapest asset listed in Coinbase at that time. Of course, this situation will change with the addition of Coinbase's Ethereum Classic and several other coins to the platform.
Litecoin's Financial Status
Multicoin, as a result of his research revealed that the Litecoin Foundation is in a very difficult financial situation. According to research, there are around 320 thousand dollars in the Litecoin Foundation's safe.
The Multicoin does not have an obvious roadmap, but stresses that most of the updates to LTC are directly from BTC.
Bitmain, one of the largest companies in the crypto money sector, holds about 1 million LTC. However, Bitmain supports Bitcoin Cash, which introduces itself as co digital cash ’like LTC. According to Multicoin, Bitmain will start releasing Litecoin to support Bitcoin Cash or another coin over time.
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