Benzinga - Litecoin (LTC) is a fork of Bitcoin (CRYPTO: BTC) that came into existence in 2011. The cryptocurrency was created by former Google engineer Charlie Lee as an adaption of the apex coin's source code.
In 2014, Dogecoin (CRYPTO: DOGE), the bellwether meme coin, implemented Auxiliary proof-of-work following Lee's suggestion. This has allowed the two coins to be merge mined. In a way, Dogecoin is a relative of Litecoin.
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The Investment: At the time of publishing LTC traded 3.4% higher at $99.50 as it hovered around the key $100 mark. The cryptocurrency has shot up 9.9% over the span of the last seven days.
Litecoin touched an all-time high of $412.96 on May 10, 2021. Should an investor be persuaded by the recent spike in LTC price to invest $100 in the coin, here's how much they'd have if the price returns to those highs.
| Litecoin (LTC) | April 17, 2023 | $100 | $99.50 | 1.005 | $415.03 | 315.03 |
The investor's $100 can potentially turn into $415.03 if LTC goes all the way back to its May 2021 ATH level. The gain, in this case, would be 315.03%.
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