Litecoin Founder Reveals Major Crypto Shift 14 Years After LTC Creation

Litecoin creator Charlie Lee is reflecting on LTC's 14-year journey.  Lee, a former Google engineer, launched Litecoin in October 2011 as a source-code fork of Bitcoin.

The Litecoin creator reiterated this in a recent tweet, saying: "I created Litecoin as a fun side project in 2011."

This makes Litecoin one of the oldest and most established cryptocurrencies still in active use. Often referred to as "the silver to Bitcoin’s gold," Litecoin sought to improve on its design by offering faster settlement times, lower transaction costs and a larger supply, while Bitcoin launched the decentralized digital money era.

While Litecoin was created as a fun side project 14 years back, the LTC creator points out that a lot has changed since, with recent developments demonstrating Litecoin's relevance.

Litecoin has found its way to the balance sheets of companies, with the first Litecoin ETF being launched in the U.S.

"14 years later, institutions are adding it to their balance sheets and can access it through traditional markets," Lee said, adding, "Wild to think that it will outlive me."

Litecoin's recent developments

On Oct. 28, Canary Fund's Litecoin spot ETF listed on the Nasdaq under the ticker LTCC kicked off trading, becoming the first-ever Litecoin ETF to be launched in the United States.

In ETF news, WisdomTree recently filed Form S-1 seeking to launch the "WisdomTree Coindesk 20 Fund" to be listed on the NYSE, which includes Litecoin.

In a recent milestone, the Litecoin network has processed three million blocks in its lifetime, while celebrating 14 years of uptime.

The Litecoin price is seeing a positive boost alongside the markets, currently trading at $107 as the network added new whales. Over the weekend, Santiment reported a 6% increase in wallets with more than 100,000 LTC (whales) in three months and an ATH of $15.1 billion in daily on-chain volume.