A single trade of $99 million Litecoin was sent in one trade on Thursday. The incredible thing is that this whole transaction only took around two minutes and thirty seconds to complete and it also cost the person who did it $0.40 in fees. Those who work as crypto bulls have been pointed to the trade as being evidence that this cryptocurrency is a way better way for people to send money when compared to other payment systems.
The trade was done between two cryptocurrency wallets and this drew a lot of attention. It is not yet known who made the trade and this discussion was the third most popular on the Litecoin Reddit page. Reddit users were incredibly impressed by the data and the fact that the whole thing only took a couple of minutes to do. They were also surprised to see that the whole trade only cost them $0.40 in mining expenses as well. One person who wrote the thread could not quite believe how little fees the user experienced when he made the trade. Other users saw that it was important to point out the fact that similar transactions would have taken multiple days to clear and that more than one person would have to sign off on this as well.
This, combined with the fact that they would have experienced a ton of fees, really does just go to show how incredible cryptocurrency really is. Litecoin have continually stated that they have the potential to provide a much cheaper and a much quicker payment alternative. They believe that they are able to create payment rails and that they can also lend a hand when it comes to international transactions as well.
When you look at the statistics you’ll find that Litecoin is easily the sixth biggest cryptocurrency on the market. There is over $8.4 billion worth of coins in circulation at the moment and this is incredible to say that it was only created in the year 2011. Litecoin is said to be much cheaper when compared to Bitcoin and that it has much more potential, but only time will tell if this is the case or not.