Litecoin (LTC) Up Almost 30% This Year, TRON (TRX) Close Behind
Litecoin is the best-performing cryptocurrency in the Top 10 so far this year, up almost 30 percent since 2019 began seven days ago. LTC began the year slightly above $31 and has since grown to over $38, almost breaking $40 at one point yesterday.
Litecoin founder Charlie Lee has been in the new lately for his comments regarding Bitcoin maximalists – a term for crypto enthusiasts who believe Bitcoin will always be the dominant cryptocurrency. In a recent tweet, he accused Bitcoin Maximalists of actually being Bitcoin extremists who think all other coins will die.
“They think all other coins are scams and will go to zero. Maximalists think Bitcoin is and will remain the dominant cryptocurrency but there is room for altcoins to exist and even do well.”, he said.
Following up on the tweet, he included a poll asking users to vote how they feel they identify. The options included Bitcoin Extremist, Bitcoin Maximalist, Altcoin Maximalist and Nocoiner – someone who holds no cryptocurrency.
The poll has attracted over 28,000 votes, with the majority of users identifiying as Bitcoin Maximalists.
Despite the poll causing some controversy, Litecoin continues its upward trajectory. Technical analysis shows RSI in positive territory, indicating a bullish trend and predicting a potential target of $56 if the coin can break and sustain support above $47. However, a drop below $27 would indicate a trend reversal.
Tron (TRX) is the second best performing coin so far this year, recently taking 9th position by market cap. Last year the Tron Foundation puchased hugely popular peer-to-peer file sharing platform BitTorrent and recently announced it will be launching its own BitTorrent cryptocurrency, BTT coin.
Tron founder Justin Sun announced the development on Twitter, noting how the new token will help grow mass adoption of cryptocurencies. Two days ago TRX crossed the significant resistance level of $0.024 but is expected to face strong resistance at $0.028.