Benzinga - Litecoin (LTC) is a fork of Bitcoin (CRYPTO: BTC) that came into existence in 2011. The cryptocurrency was created by former Google (NASDAQ:GOOGL) 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.
See Also: Where To Buy Cryptocurrency?
The Investment: LTC saw a spike in its price on Tuesday night. At the time of writing, in the early hours of Wednesday, LTC was trading 28.9% higher intraday at $79.84.
However, the LTC price is still way below the all-time high of $412.96 it hit 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 an all-time high once again.
| Litecoin (LTC) | Nov. 23, 2022 | $100 | $78.84 | 1.27 | $523.80 | 423.80% |
The investor's $100 can potentially turn into $523.80 if LTC goes all the way back to its May 2021 ATH level. The gain, in this case, would be 423.8%.
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